Bill Gates touts European clean-energy fund

Iceland geothermal energy

One of the companies in Breakthrough Energy Ventures’ portfolio is Sweden’s Baseload Capital, which invests in geothermal facilities including Varmaorka in Iceland. (Photo Courtesy of Baseload Capital)

Microsoft co-founder Bill Gates is celebrating the official launch of Breakthrough Energy Ventures Europe, an investment fund that aims to boost clean-energy innovation in Europe to the tune of 100 million euros. That translates to $112 million at the current rate of exchange.

Half of the money is coming from the European Commission’s Horizon 2020 program, via a financing channel known as InnovFin. The other half is coming from Breakthrough Energy Ventures, the $1 billion fund backed by Gates and other heavyweight investors including Amazon CEO Jeff Bezos, Softbank Group CEO Masayoshi Son, Virgin Group founder Richard Branson and Alibaba Group executive chairman Jack Ma.

Breakthrough Energy Ventures was created in 2016 to invest in zero-carbon energy technologies, and it’s laid down bets on 15 ventures since then. But most of those ventures are based in the U.S. and Canada. Breakthrough Energy Ventures Europe, or BEV-E, will make sure Europe is well-represented on the clean-energy frontier.

Get the full story on GeekWire.

About Alan Boyle

Aerospace and science editor for GeekWire, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
This entry was posted in GeekWire and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.