Breakthrough Energy


Breakthrough Energy is a global group of 28 high net-worth investors from ten countries committed to funding clean energy companies emerging from the initiatives of Mission Innovation, which was also announced at the 2015 United Nations Climate Change Conference. Breakthrough Energy is the umbrella name for the originally announced Breakthrough Energy Coalition and its venture arm Breakthrough Energy Ventures.

History

In November 2015, the group announced that it would aim to bolster governmental assistance in renewable energy such as solar energy and wind power to $20 billion.
In December 2016, a group of investor's collectively worth announced more personal commitment to funding the efforts of a fund "focused on fighting climate change by investing in clean energy innovation." The fund is named Breakthrough Energy Ventures fund.

Members

The group is spearheaded by Bill Gates, who previously announced a personal $2 billion investment, and includes:
There has been criticism that the coalition was announced too early, before crucial details had been confirmed. At launch, a Gates Foundation spokesman confirmed that investment professionals had yet to be appointed, named investors—other than Gates—hadn't publicly stated their level of investment and a financial structure hadn't been confirmed.
The scale, at $20 billion of public cash over five years and the initial $2 billion of private cash, has also been criticised as inadequate: the World Bank suggests that $100 billion would be needed annually.