Mukesh Ambani, Gates join hands to donate for $1-bn clean fund

Moneycontrol Bureau Microsoft co-founder Bill Gates will lead the newly formed Breakthrough Energy Ventures (BEV) with investments over USD 1 billion. The BEV will fund new and emerging energy breakthroughs that will be affordable and will help reduce the greenhouse emissions. The aim is to build companies that will bring in reliable and emission-free energy to the world, said Gates, Chairman of BEV. The directors of BEV include Reliance Industries Chairman Mukesh Ambani, Alibaba founder Jack Ma, former energy hedge fund manager John Arnold, venture capitalists like Vinod Khosla and John Doerr and SAP founder Hasso Plattner. The fund, which has a 20-year lifeline, has collaborated with Mission Innovation wherein over 20 countries have pledged to double clean energy research investment in five years.