Some of the world’s wealthiest and most powerful individuals are forming a new organization known as the Breakthrough Energy Coalition to invest in technologies that could help solve problems associated with climate change and other clean tech initiatives. The coalition includes Microsoft co-founder Bill Gates, Amazon.com founder Jeff Bezos, Salesforce CEO Marc Benioff, Facebook co-founder Mark Zuckerberg; Alibaba CEO Jack Ma and many others. (Full list below). The organization is not announcing a specific monetary figure that it plans to invest, but the collective wealth of the inaugural members is in the hundreds of billions of dollars. They plan to invest in a range of technologies that will help “transition the world to a near zero emissions energy future.”
Those areas of investment include electricity generation and storage; transportation; industrial use; agriculture; amd energy system efficiency “Our primary goal with the Coalition is as much to accelerate progress on clean energy as it is to make a profit,” Gates wrote in a blog post announcing the new effort. The organization says it plans to invest early, wisely and boldly, looking especially at “novel technologies” which are “dramatically more efficient, scalable, or cheaper” than existing technologies.
We are committed to doing our part and filling this capital need by coming together in a new coalition. We will form a network of private capital committed to building a structure that will allow informed decisions to help accelerate the change to the advanced energy future our planet needs. Success requires a partnership of increased government research, with a transparent and workable structure to objectively evaluate those projects, and committed private-sector investors willing to support the innovative ideas that come out of the public research pipeline.