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Breakthrough Energy Coalition has committed to investing more than $1 billion to deliver affordable and reliable energy.

"Members of the Breakthrough Energy Coalition (BEC) have committed to invest more than $1 billion in Breakthrough Energy Ventures (BEV), an investor-led fund that will finance emerging energy breakthroughs to deliver affordable and reliable energy with the goal of reducing global greenhouse gas emissions to near-zero," said Breakthrough Energy Coalition a press release.

The coalition is group of investors and institutions committed to investing in technology to solve urgent energy and climate challenges.

"It is extremely exciting for us to launch this fund as the next step in the commitment made by the Breakthrough Energy Coalition last year," said BEV Chairman Bill Gates.

"Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world."

The BEC was launched alongside Mission Innovation, a global initiative of 22 countries and the European Union to accelerate the pace of clean energy innovations through smart government spending that increases the rate of innovation in their domestic sectors as per the statement.

http://economictimes.indiatimes.com/articleshow/55966564.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst