Nearly two dozen of the world’s most successful business leaders, entrepreneurs, and venture capitalists will invest up to $1 billion in a fund led by Microsoft-co-founder Bill Gates that aims to reduce greenhouse gas emissions to almost zero by financing emerging clean energy technology.
The Breakthrough Energy Ventures Fund includes John Doerr, chairman of venture firm Kleiner Perkins Caufield & Byers, Alibaba founder Jack Ma, Khosla Ventures founder Vinod Khosla, Laura and John Arnold Foundation co-chair and former energy hedge fund manager John Arnold, Amazon founder and CEO Jeff Bezos, and SAP co-founder Hasso Plattner.
“I am honored to work along with these investors to build on the powerful foundation of public investment in basic research,” BEV chairman Bill Gates said in a statement Sunday night. “Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”
Originally published on the FORTUNE website.