Bill Gates’ League of Billionaires will spend $1 Billion on Energy Research
Bill Gates is organizing a $1 billion fund that will invest in fusion and other clean energy technology. Breakthrough Energy Ventures (BEV) has the backing of some of the world’s richest people; and it might invest in cold fusion or low energy nuclear reaction (LENR).
Gates will serve as chairman of the fund which is designed to commercialize clean-energy technologies to combat climate change, Market Mad House reported. In the press coverage Gates did not discuss LENR but he did say something interesting.
“Anything that leads to cheap, clean, reliable energy we’re open-minded to,” Gates said. Gates himself was careful not to name any specific technologies but he has invested in hot fusion and nuclear fission research in the past. Gates has pledged to invest $1 billion of his own money in such research in the past.
BEV is the work of the Breakthrough Energy Coalition, a league of the super-rich dedicated to fighting climate change with clean energy. Bill Gates is the leader and organizer of the effort.
The Coalition boasts some impressive members including Alibaba founder Jack Ma, Amazon CEO and founder Jeff Bezos, former New York Mayor Michael Bloomberg, Sir Richard Branson of the Virgin Group, venture capitalist John Doerr, Masayoshi Son of Japan’s Softbank, hedge fund genius George Soros, Ratan Tata of the Tata Group, Hewlett Packard CEO Meg Whitman, Mark Zuckerberg of Facebook and Prince Alwaleed bin Talal, a member of the Saudi Royal family.
Will League of Billionaires invest in LENR?
Strangely enough the billionaire most closely connected with Gates; Warren Buffett, is not mentioned. Since Buffett has already pledged to donate his fortune to Gates’ foundation that may not matter.
It is not clear how much money any of these people have donated but Quartz estimated their combined wealth at $180 billion. That should be good news to people like Andrea Rossi and Brillouin Energy who have been trying to commercialize LENR.
Even though there’s no evidence BEV would invest in cold fusion, Gates has been linked to LENR in the past. Gates visited the Italian Agency for New Technologies in 2014 and reportedly discussed LENR with that agency’s commissioner Federico Testa.
More recently there have been unconfirmed rumors that Gates is financing LENR research at Texas Tech University (TTU) in Lubbock. The Martin Fleischmann Memorial Project claimed Gates gave $4 million to the Center for Emergency Energy Sciences at TTU to study the “anomalous heat effect.”
The name cold fusion is not mentioned but the research effort will be headed by Professor Robert Duncan a well-known LENR enthusiast who is vice president of Research Initiatives and a Professor of Physics at Texas Tech. Another well-known LENR researcher Michael McKubre of the Stanford Research Institute who has conducted LENR tests for DARPA in the past, is being paid $100,000 to act as a consult for the TTU research.
There’s no indication that BEV money will be spent on LENR but given Bill Gates’ reputed interest there is a possibility. This is certainly good news because massive spending on new energy technologies is needed, regardless of beliefs about climate change. The world needs energy sources and Bill Gates might be the man to make them a reality.