Patient... and green

Patient... and green

climate change fund.png

Breakthrough Energy Ventures has announced a raft of climate change-tackling investments. The fund, which is backed by Bill Gates, Jack Ma and Michael Bloomberg, among others, has plans to pump a plump $1bn into start-ups developing new technologies that deliver more efficient and cheaper energy.

Among the latest recipients of BEV cash are:

QuantumScape, a solid-state battery start-up

Commonwealth Fusion Systems, which is working with MIT  on fusion power involving superconducting magnets

Zero Mass Water, a maker of rooftop tech – Hydropanels – that extract drinking water from the air

Pivot Bio, a developer of microbes that fix nitrogen in soil to help cereal crop growth

CarbonCure, which is working on using carbon dioxide in concrete manufacturing

Fervo Energy, a manufacturer of enhanced geothermal systems

DMC Biotechnologies, a tester of strains of microbes used to generate biofuels and other bio-products.

BEV did not disclose the levels of investments made in the start-ups, but the fund has invested $100m to date, with a deal range of under $1m to $20m.

The fund says aims to leverage innovation as broadly as possible. It doesn’t limit itself to early- or late-stage companies, nor to small, medium, or large enterprises, nor to particular geographies or technologies.

BEV has adopted a patient capital model, making its investments over a 20-year period.

“Fully deploying new technologies will take decades, not years,” says BEV. “Given this timeline, it is critical not just to respond to today’s circumstances but also to anticipate tomorrow’s urgent needs.”

Image: BEV

Living live music

Living live music

1 billion for batteries

1 billion for batteries