Bill Gates Rallies With Tech Leaders To Launch A Multi-Billion Dollar Energy Fund

This summer, Bill Gates announced that he is committing $2 billion of his personal wealth to energy innovations. Gates’ reported worth is $79 billion.  Not a small chunk of change.

This morning in Paris, where the UN Climate Change talks are taking place this week, Gates explained that his commitment is part of a larger, multi-billion dollar clean energy and development fund. Backed by entrepreneurs like Mark Zuckerberg, Jeff Bezos, Mukesh Ambani, Reid Hoffman, and Richard Branson, Gates argues that innovation will be the key to solving the environmental crisis.

“We need to bring the cost premium for being clean down,” Gates told CNN.

He’s rallied 28 partners for the Breakthrough Energy Coalition. These include a variety of public and private institutions, such as national governments, wealthy philanthropists, fund managers and tech CEOs.

Gates wrote on his Gates Notes blog that the Coalition will take “innovative clean-energy ideas out of the lab and into the marketplace.”

Much like with the Gates Foundation, the focus of the fund clearly appears to be on R&D.

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