WHAT?
Breakthrough Energy is created in 2016, its mission is to help lead the world to net-zero emissions by 2050 by supporting R&D, investing in companies with clean products and tools as well as advocating for policies that accelerate innovation from lab to market.
Several investors from different countries had committed to the Breakthrough Energy initiative. Among the principal investors of BEV’s first fund were:
Richard Branson
Virgin Group
Jeff Bezos
Amazon Inc.
Jack Ma
Alibaba Group
Mukesh Ambani
Reliance industries
Michael Bloomberg
Bloomberg LP
Chris Hohn
Hedge fund manager
Rodi Guidero, the executive director, said many of BEV’s original investors are involved in the second round joined by some new ones without providing any names.
WHAT'S NEXT?
The next $1 billion will be invested in 40 to 50 startups. The fund will place a special focus on “tougher climate challenges” in greener steel and cement, long-haul transport, direct air capture and hydrogen.
Finding enough investible startups in the the areas that BEV targets may not be a simple task, that is why the fund intends to launch new companies itself by relying on its own technical expertise.
Follow Techngood on social media:
