Published Date : Dec 02, 2015
Bill Gates and Mark Zuckerberg have teamed up and announced that they will be creating a substantial fund pool for renewable energy. The two will team up other prominent names and companies from the world of technology and establish a new fund which will be intended solely for clean energy investments.
As mentioned in a Facebook post by Zuckerberg himself, he has joined forces with Bill Gates to create the Breakthrough Energy Coalition. The body will have the potential to invest in new ideas that aim to transform the way the world produces, stores, and consumes energy. The website of the Coalition states that it is going to focus on companies in the early stages of growth and which have shown possibilities of near zero carbon emissions. The companies also need to provide reliable and affordable energy to everyone.
Other members of the partnership include bigwigs Jack Ma of Alibaba, Richard Branson of Virgin, and Jeff Bezos of Amazon. Currently, there is no update on the actual figures that will be made available through the fund, but experts believe that it is expected to be a substantial one, given the credibility of the names involved.
The highlight of the Coalition however, Zuckerberg said, will not be the money. It will be the model that the Coalition uses. According to the website, the challenges faced by even the most promising of ideas can be sufficient in creating an impasse between the concept and a final product. This impasse cannot be cleared even if the startup receives government funding or even private investments. It can be solved through a dramatically upscale pipeline of public research, which the Coalition provides.