In order to curb the rise in global temperatures and reduce dependency on the fossil fuels, two of the world’s most famous entrepreneurs are coming together to kick start a clean-tech revolution.
Facebook CEO Mark Zuckerberg and Microsoft founder and ex-chairman Bill Gates are collaborating on a new project called the Breakthrough Energy Coalition. Making the announcement on Facebook, Zuckerberg revealed yesterday that this new initiative in partnership with Microsoft is focused on channelizing private sector investment in the clean-tech sector. Zuckerberg’s wife Priscilla Chan will be also be part of this initiative.
Other prominent entrepreneurs and industry leaders who have agreed to join hands for the initiative include the likes of Richard Branson, Jeff Bezos, Jack Ma, and Masayoshi Son.
Priscilla and I are joining Bill Gates in launching the Breakthrough Energy Coalition to invest in new clean energy technologies.
Solving the clean energy problem is an essential part of building a better world. We won’t be able to make meaningful progress on other challenges — like educating or connecting the world — without secure energy and a stable climate. Yet progress towards a sustainable energy system is too slow, and the current system doesn’t encourage the kind of innovation that will get us there faster,
wrote Zuckerberg in a post.
The initiatives will be focused on investments in the clean-tech sector, which is aimed at developing technology aimed at releasing zero-carbon particles through the use of clean energy.
At the U.N. Climate Control Conference on Monday, Gates is slated to make a public announcement about the Mission Innovation initiative. Gates will be sharing ideas and strategies about the initiative with the U.S President Barack Obama at the event.
The two projects might come together to collaborate and prove beneficial to companies that are spending time and effort on research in the clean-tech segment. The Mission Innovation is the government’s plan for the future that will see increase in government funds in the field of clean-tech innovation.
As of now the Mission Innovation initiative has over 19 countries as its members. This will be a significant aid to Breakthrough Energy Coalition initiative. Facebook and Microsoft’s initiative will be working in tandem with the Mission Innovation team and its 19 member countries. Mission Innovation focuses on reaching the ambitious target of $20 billion in investments by 2020.
The Breakthrough Energy Coalition will invest in ideas that have the potential to transform the way we all produce and consume energy. As leaders prepare for the UN Climate Change Conference: in Paris this week, we hope this will encourage more partners to make innovation a priority in the fight against climate change.
We already invest in renewable and clean energy for our Facebook facilities today, but we believe that building a positive future for the next generation also means investing in long term projects that companies and governments don’t fund. This is an important focus for us, and we’ll share more about it in the coming days,
elaborated the Facebook founder.
Breakthrough Energy Coalition explains will also back emerging start-ups through investment in the incubator stage or Series A funding in sectors that are not solely limited to clean tech but also include transportation, industrial use, and agriculture.
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