As Donald Trump prepares to take office, three of the most prolific technology leaders join forces to invest in a $1 billion venture to fight climate change.
Microsoft’s Bill Gates is leading an effort to pour more than $1 billion into clean energy companies.
The Microsoft founder declared his intention to initiate the fund at the climate talks in France last year as a means to quicken the steps of innovation for climate change.
Gates stated that his goal was to create firms that will assist in providing dependable, cheap and zero-emissions energy to the world and to the next generation.
Jack Ma added that more often than not, people allow what they believe they know restrict what is attainable, that when it comes to energy, people think one cannot make any profit, meet the need at the same time aid the environment.
“But we can and we will.” Ma said.
The fund is created to lend its money for 20 years. It plans to help companies needing support from seed funding to the most expensive needed for introduction into the market.
Backers define the investment as “patient capital” leaning toward a carbon-free future BEV.
The effort comes as U.S president-elect Donald Trump prepares to take over the presidency with intentions to assign a cabinet that includes ardent oppositions of energy control and doubters of climate change.
Leading the cabinet is Scott Pruitt, Trump’s pick to head the Environmental Protection Agency, who is a close coadjutor of the fossil fuel industry and a major foe of President Obama’s endeavors to regulate carbon emissions.