Bill Gates has launched a new $1-billion fund as part of the Breakthrough Energy Coalition, Fortune reported.
The fund, called Breakthrough Energy Ventures Fund, includes several billionaires who have put money forward to develop next-generation clean energy technology.
Among the fund’s 20 investors are Alibaba head Jack Ma, Amazon founder Jeff Bezos, and South African mining billionaire Patrice Motsepe.
“I am honoured to work with these investors to build on the powerful foundation of public investment in basic research,” said Gates.
“Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.”