Focusing on Mission Innovation countries, an announcement of clean energy R&D investment fund, named the Breakthrough Energy Venture (BEV) was made by Break through Energy Coalition (BEC).
Breakthrough Energy Coalition (BEC) — a group of entrepreneurs, business leaders, and institutional investors committed to help bring promising new zero-emissions energy technologies to market—has announced a commitment to invest more than US$ 1 billion in a fund called Breakthrough Energy Ventures (BEV). BEC was launched one year ago in parallel with Mission Innovation.
India is partnering with other 22 member countries in the Mission Innovation on Clean Energy.
The BEV fund focuses its investments in Mission Innovation countries, knowing that the foundation of many energy innovations will likely come through government research pipelines. Through Mission Innovation, 22 countries and the European Union are taking action to double their public clean energy research and development (R&D) investment over five years.
The BEV fund invests patient capital, having a 20-year horizon, and utilizes scientific research and market priorities to take advantage of huge opportunities. The fund focuses on companies and technologies that show sizeable promise for moving the world toward an emission-free future.
BEC is already investing in multiple ways—individually, through partnerships, and directly in companies. BEC has spent the past year developing the structure for the BEV fund, raising the initial capital, and building an investor-led structure that can take advantage of the significant capital and the relationships, experience, and expertise of this unique group of investors.
Mission Innovation and complementary private sector efforts such as BEC are continuing to identify R&D and other investment opportunities that will revolutionize energy systems throughout the world over the next two decades and beyond.
To learn more about how BEC is encouraging a broad network of public and private capital to work together to provide clean, reliable, and affordable energy, view this infographic.