Bill Gates launched the Breakthrough Energy Ventures on Monday, a $1 billion fund to invest in clean energy. 

Breakthrough Energy Ventures was a spin-off from the Breakthrough Energy Coalition that was launched by Gates in December 2015 with a view to increase investment in early-stage clean-tech research. This new fund will finance emerging energy breakthroughs that can deliver cheap and reliable zero carbon emissions or clean energy to the world as it also counteracts the climate change.

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"We need affordable and reliable energy that doesn't emit greenhouse gas to power the future-and to get it, we need a different model for investing in good ideas and moving them from the lab to the market," Gates wrote on his  blog.

Breakthrough Energy Coalition is a group of business leaders and institutional investors from around the world who are committed to invest to new forms of energy that will bring the new zero-emissions energy technologies to market.

Gates has gathered a group of like-minded investors to join him in the fund including Amazon founder and CEO Jeff Bezos, Virgin Group founder Richard Branson, Alibaba executive chairman Jack Ma, Kleiner Perkins venture capitalist John Doerr, LinkedIn co-founder Reid Hoffman, and SoftBank founder and CEO Masayoshi Son.

This project is not limited to the private sectors as it needs the help of the government to achieve its goal.

Bill Gates, as a technologist and investors, understands that this project will face a lot of challenges in the market, that is why the Breakthrough Energy Coalition created the Breakthrough Energy Ventures  to address some of those challenges in the energy market.

Meanwhile, the fund's investors are confident that the world can meet its energy needs in a way that is fair, safe, and sustainable with a significant step on the $1 billion fund added with patience, collaboration, flexibility, and a clear vision.

TagsBill Gates, CLEAN ENERGY, Climate Change, Breakthrough Energy Ventures, Breakthrough Energy Coalition