Monday, January 24, 2022
More

    Latest Posts

    Bill Gates BEC Climate Fund plans to invest $ 15 billion in clean technology

    Evan Vucci | AFP | Getty Images

    Breakthrough Energy Catalyst, Supported Public-Private Fund Microsoft Bill Gates of Billionaire reportsly plans to invest up to $ 15 billion in clean technology projects across the United States, the United Kingdom, and the European Union.

    BEC, a fund within the broader Breakthrough Energy Group founded by Gates in 2015, Raised over $ 1.5 billion From traditional businesses and charities. But Jonagoldman, managing director of Breakthrough Energy, said: Financial Times The fund will eventually mobilize ten times that amount, or $ 15 billion. BEC did not immediately respond to CNBC’s request for comment.

    Goldman told FT that the fund plans to use innovative financial structures and partnership agreements to roll out $ 15 billion. “We’re raising the last mile, so it’s going to be the riskiest capital there,” Goldman said. “We are actually trying to demonstrate which technical path is most effective.”

    On its website, Breakthrough Energy describes BEC as “a program that demonstrates how to finance, produce and buy new solutions that underpin a low-carbon economy.” The BEC will initially focus on direct air capture, green hydrogen, long-term energy storage, and sustainable aviation fuels. According to the FT, the fund plans to invest in large projects that are otherwise not economically feasible, making charitable donations, submarket equity investments, and product off-take contracts.

    BEC Announced in September Securing investment from Microsoft, Black lock, General Motors, American Airlines, Boston Consulting Group, Bank of America When ArcelorMittal.. It is also supported by the US Department of Energy and the European Commission, the EU’s executive body.

    Read the full text of Click here for the FT website..

    Bill Gates BEC Climate Fund plans to invest $ 15 billion in clean technology

    Source link Bill Gates BEC Climate Fund plans to invest $ 15 billion in clean technology

    The post Bill Gates BEC Climate Fund plans to invest $ 15 billion in clean technology appeared first on Eminetra.

    Latest Posts

    Don't Miss

    Stay in touch

    To be updated with all the latest news, offers and special announcements.