Breakthrough Energy Ventures (BEV) is a fund led by investors, guided by science, and equipped with patient and flexible capital to make risk-tolerant investments in next generation technologies to provide reliable, affordable, zero-carbon energy, food, and products to the world.
The Breakthrough Energy Coalition is a large group of individuals and institutions committed to investing in new energy technologies emerging out of government research institutions to provide reliable, affordable power with zero emissions. The coalition is investing in multiple ways – individually, through partnerships, directly in companies, or through pooled capital vehicles. Breakthrough Energy Ventures is one of those investment vehicles that a majority of the BEC has created to invest science focused, patient, and flexible capital in new companies that show promise to fulfilling the BEC mission.
Mission Innovation is a global initiative of 22 countries and the European Union – which represent more than 80 percent of global clean energy R&D budgets – to accelerate the pace of energy innovations through smart government spending on research and private spending on commercialization. Because the foundation of many energy innovations will likely come through government research pipelines, BEV will focus its investments in those countries that have committed to increase the size of their research pipelines by participating in Mission Innovation.
The Landscape of Innovation is an outline of the broad mix of technologies that deserve both public and private investor attention in order to reduce emissions while also providing affordable, reliable energy to the world.
BEV was started to address the challenges in investing in new energy technologies while taking advantage of a huge investment opportunity. The global energy market is currently sized at six trillion dollars, and energy demand is expected to grow by one-third by 2040. In addition, the urgency of climate change and the commitment of countries around the world to limit emissions requires an aggressive global push for zero-emission energy innovation.
BEV shares the market definition of success used by traditional funds in that its goal is to make a profit. Thus, BEV will measure the success of its investments through risk-adjusted returns. BEV has a longer lifespan than many other funds, the in-house science and technical expertise, the flexibility to invest wherever opportunities present themselves and the global network of its investors will help address the challenges of investing in energy innovation while positioning the fund to take advantage of the tremendous market opportunity in the expanding energy market.
BEV investors include people who have built some of the world’s biggest companies, delivered energy in challenging circumstances, pioneered new technologies to change lives, and succeeded in investing over long periods of time.
BEV will focus its investments on breakthrough technologies around the world. Our board and management team will explore the many technological pathways outlined in the Landscape of Innovation and evaluate those pathways based on their climate impact, market potential, scientific promise, and need for the unique capital BEV provides.
Collaboration between the public and private sector leads to meaningful innovations. We have seen big successes in the past, with government-funded research programs in space, defense, technology, and medical research spurring private creativity to produce many of the innovations that define our current way of life. Public support continues to be crucial in providing the foundation of basic research that unlocks private investment in company-building and industry creation. Together, we will focus on investments with the potential to create an energy future that produces zero carbon emissions and provides everyone with affordable, reliable energy.
BEV will explore opportunities to engage strategic corporate partners to coordinate expertise and capital to move breakthrough technologies forward. BEV will also partner with research institutions to develop an investment pipeline of projects as well as identify other investment partnership opportunities.
Thank you for your commitment to creating reliable, affordable and emissions-free energy for all of us. We need as many people as possible working worldwide on energy breakthroughs.
As you know, BEV is just getting started, so we aren’t considering any unsolicited investment opportunities at this time.
When our team is assembled and we are ready to evaluate proposals, we will post more information on our website about how best to engage.