“We need new technologies to avoid the worst impacts of climate change,” Gates said. (Photo: Bloomberg)
(Bloomberg) –Breakthrough Energy Ventures, the startup fund founded by billionaire Bill Gates, opened a 100 million euro ($116 million) investment fund to help European companies develop clean technologies.
“We need new technologies to avoid the worst impacts of climate change,” Gates said in Brussels, where he met with European Commission President Jean-Claude Juncker. “Scientists and entrepreneurs who are developing innovations to address climate change need capital to build companies that can deliver those innovations to the global market.”
The $1 billion Breakthrough Energy fund established by Gates in 2016 was founded to pursue the long-shot technological breakthroughs needed to avert climate change that are too risky for venture capitalists.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.