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Breakthrough Energy Europe

Company


Owners:
Gates Bill

2018: Start of fund for 100 million euros Bill Gates

On October 17, 2018 Bill Gates started Breakthrough Energy Europe fund from which means will go for development "essentially new" technologies in the field of environmentally friendly power.

The volume of fund is 100 million euros. A half of this amount will arrive from Breakthrough Energy Ventures fund (its size — $1 billion) to which money is sent not only by Bill Gates, but also several other richest people on Earth, including the founder of Amazon Jeff Bezos, the media manager Michael Bloomberg, the head of Alibaba Jack Ma, the head of Virgin Group Richard Branson.

The second half of means for Breakthrough Energy Europe will be taken from InnovFin — division of the European Investment Bank specializing in research and innovation projects.

Bill Gates created in Europe fund for development of environmentally friendly power and gave it 100 million euros
Bill Gates created in Europe fund for development of environmentally friendly power and gave it 100 million euros

Breakthrough Energy Europe will invest in the projects connected with decrease in emissions of greenhouse gases and also directed to increase in energy efficiency in the field of electricity generation, transport, agriculture, the industry and construction.

According to Gates, 100 million euros will be transferred to Breakthrough Energy Europe for "few years" then activity of fund can be in addition financed.

By October, 2018 Breakthrough Energy Ventures invested in 20 startups most of which part works in North America. Breakthrough Energy Europe is the European project, its offices will be opened in EU countries. Money from fund will receive the European companies which are engaged in the energy technologies which are not allowing environmental pollution.

Bill Gates noted that Europe "showed the importance as the leader in the field of environmentally friendly power, investing heavily in research and development".[1]

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