Breakthrough Energy Ventures

I have some issues with Bill Gate's Breakthrough Energy Ventures fund. Gates seems to believe that we need a lot more research before we can make the transition to renewable energy. And I'm sure he's right that there are some mind-blowing technical breakthroughs ahead of us as we become a renewable energy society.

But we have sufficient technology in hand to push for implementation on a massive scale right now. And we need megawatts of renewable energy now, not twenty years in the future.

Tracy Staedter at Seeker has the report on what Gates and his supporters are doing.

Although the size of the fund is impressive, its duration is also a surprise. Whereas most investors want to see their startup companies turning a profit within a few years, those under Breakthrough Energy Ventures' wing will have 20 years to take the research and development time often necessary to push energy innovation to new levels.

Link: Bill Gates and Wealthy Allies Have Launched a $1B Clean Energy Fund