Website: [breakthroughenergy.org](https://www.breakthroughenergy.org) ### Introduction Breakthrough Energy Ventures (BEV) is a venture capital firm founded in 2016 by Bill Gates, alongside a coalition of high-profile investors including Jeff Bezos, Jack Ma, and Mukesh Ambani. Headquartered in Kirkland, Washington, BEV operates as part of the larger Breakthrough Energy network, which focuses on accelerating the transition to a net-zero emissions economy by 2050. The firm does not publicly disclose its employee count, but it is known for assembling a team of experts in energy, technology, and investment. BEV is a private entity and not publicly traded, with no ticker symbol. The mission of BEV is to fund and support early-stage companies developing innovative clean energy technologies that can significantly reduce greenhouse gas emissions. The firm targets breakthroughs in areas such as renewable energy, energy storage, transportation, industrial processes, and agriculture, aiming to bridge the gap between scientific innovation and commercial scalability. With a patient capital approach, BEV is committed to long-term investments in high-risk, high-reward technologies that traditional venture capital might overlook. ### Key Products and Technology As a venture capital firm, BEV does not develop its own products or technologies but invests in a portfolio of startups across various clean energy and climate tech sectors. Below are examples of key technology areas and companies in their portfolio, based on publicly available information from their website and news sources: - **Fervo Energy (Next-Generation Geothermal Technology)** - **Type**: Geothermal energy generation - **Technical Specifications**: Focuses on enhanced geothermal systems (EGS) with potential for 24/7 carbon-free baseload power; specific output and efficiency metrics vary by project but aim for scalability to multi-MW capacities. - **Fuel Type or Energy Source**: Geothermal heat from subsurface reservoirs. - **Key Differentiators**: Utilizes advanced drilling techniques inspired by oil and gas industries to access deeper, hotter reservoirs, lowering costs and expanding geothermal potential beyond traditional hotspots. - **Development Stage**: Operational pilot projects, with a notable project in Milford, Utah, delivering clean power and community benefits. - **Target Customers**: Utilities, data centers, and grid operators seeking reliable renewable baseload power. - **Verdox (Carbon Capture and Removal Platform)** - **Type**: Direct air capture and carbon removal technology - **Technical Specifications**: Uses electrochemical processes to capture CO2 with lower energy requirements compared to traditional methods; specific efficiency data not publicly detailed. - **Fuel Type or Energy Source**: Electricity-driven process, ideally paired with renewable energy sources. - **Key Differentiators**: Claims to offer a scalable, energy-efficient solution for carbon capture with potential cost reductions. - **Development Stage**: Early-stage scaling, with BEV participating in an $80 million funding round in February 2022 to support platform development. - **Target Customers**: Industrial sectors, governments, and companies seeking carbon offset solutions. - **ZeroAvia (Hydrogen-Powered Aviation Systems)** - **Type**: Hydrogen fuel cell powertrains for aviation - **Technical Specifications**: Developing systems for short-haul aircraft with zero-emission capabilities; specific power output and range details are project-specific. - **Fuel Type or Energy Source**: Green hydrogen. - **Key Differentiators**: Focuses on decarbonizing aviation, a hard-to-abate sector, with applications extending to UAVs and eVTOL markets. - **Development Stage**: Advanced testing phase with recent funding to extend runway for scaling. - **Target Customers**: Aviation industry, defense, and emerging electric aircraft markets. Note: Specific technical details for many portfolio companies are not fully disclosed due to their early-stage nature. Information is derived from [breakthroughenergy.org](https://www.breakthroughenergy.org) and recent posts on X. ### Regulatory and Licensing Status Since BEV is a venture capital firm and not a direct technology developer, it is not subject to specific regulatory processes like NRC licensing for nuclear technologies. However, many of its portfolio companies operate in regulated sectors such as energy generation, aviation, and carbon capture, requiring compliance with environmental, safety, and industry-specific regulations. For instance, Fervo Energy’s geothermal projects must adhere to state and [[Federal|federal]] permitting for drilling and environmental impact, while ZeroAvia’s hydrogen aviation systems require certification from aviation authorities like the FAA or EASA. BEV supports its portfolio companies in navigating these regulatory landscapes, often leveraging partnerships with government entities to accelerate approvals. There are no specific timelines or milestones directly tied to BEV itself for regulatory achievements, as these are managed at the portfolio company level. Investors and stakeholders can track individual company progress through updates on [breakthroughenergy.org](https://www.breakthroughenergy.org). ### Team and Leadership BEV’s leadership team comprises experienced professionals in energy, technology, and finance, guided by its founder and chair, Bill Gates. Key figures include: - **Bill Gates (Founder and Chair)**: Co-founder of Microsoft and a prominent philanthropist, Gates leads the vision for Breakthrough Energy, focusing on climate innovation. ([@BillGates](https://x.com/BillGates)) - **Carmichael Roberts (Investment Committee Member)**: A seasoned entrepreneur and investor, Roberts oversees investment strategies and portfolio development, bringing expertise in materials science and energy tech. - **Eric Toone (Managing Director)**: With a background in biochemistry and venture capital, Toone focuses on identifying and nurturing early-stage innovations in clean energy. Additional team members and advisors are listed on [breakthroughenergy.org](https://www.breakthroughenergy.org), though specific roles and social media handles for others are not publicly verified or widely available. ### Funding and Financial Position BEV has raised significant capital to support its mission. Its initial fund, Breakthrough Energy Ventures I, launched in 2016 with over $1 billion in commitments from high-profile investors including Jeff Bezos, Jack Ma, and others. In August 2024, BEV announced the closing of its third fund, raising $839 million to continue investments in climate innovation across energy, transportation, and other sectors ([ESG Dive](https://www.esgdive.com/news/bill-gates-backed-energy-investment-firm-pulls-in-839m-for-new-climate-fund/723472/)). As a private entity, BEV does not disclose detailed financials such as revenue or profit. Its portfolio companies are generally pre-revenue or in early commercial stages, with funding directed toward R&D and scaling. Key institutional backers include a mix of billionaires, family offices, and strategic partners, reflecting a broad base of support for long-term climate goals. ### Recent News and Developments | Date | Event | Details | |---------------|--------------------------------|---------------------------------------------------------------------------------------------| | Dec 17, 2025 | Community Impact Highlight | BEV highlighted Fervo Energy’s geothermal project in Milford, Utah, for delivering clean power and boosting local economies ([@Breakthrough](https://x.com/Breakthrough)). | | Aug 6, 2024 | Third Fund Closing | BEV raised $839 million for its third fund to invest in climate tech across key sectors ([ESG Dive](https://www.esgdive.com/news/bill-gates-backed-energy-investment-firm-pulls-in-839m-for-new-climate-fund/723472/)). | | Jun 13, 2024 | Portfolio Update | BEV updated its portfolio list, showcasing investments in diverse climate solutions ([breakthroughenergy.org](https://www.breakthroughenergy.org)). | | Feb 2022 | Verdox Funding | BEV joined an $80 million syndicate to fund Verdox’s carbon capture technology scaling ([Wikipedia](https://en.wikipedia.org/wiki/Breakthrough_Energy)). | | Oct 19, 2021 | UK Government Partnership | BEV’s Catalyst program partnered with the UK to invest £400 million in climate-smart tech ([@Breakthrough](https://x.com/Breakthrough)). | Note: Information for 2025 is limited to recent posts on X and may not reflect a complete picture of the year’s events. Additional updates may be available on [breakthroughenergy.org](https://www.breakthroughenergy.org). ### Partnerships and Collaborations - **UK Government (via BE Catalyst)**: A £400 million collaboration to fund next-generation climate technologies, enhancing BEV’s global reach and policy influence. - **US Department of Energy**: Bill Gates pledged $1.5 billion over three years through Breakthrough Energy for climate partnerships, facilitating R&D and deployment support ([CNN on X](https://x.com/CNN/status/1425932889305370632)). - **European Commission (Breakthrough Energy Europe)**: A €100 million pilot fund to support European clean energy innovators, signed in 2018, strengthening transatlantic climate efforts. These partnerships provide strategic value by aligning BEV with governmental resources, regulatory frameworks, and international markets, accelerating portfolio company growth. ### New Hampshire Relevance BEV’s relevance to [[New Hampshire]] lies in its potential to fund technologies that align with the state’s energy goals and infrastructure needs. New Hampshire, home to [[Seabrook Station]] (a nuclear power plant) and part of the ISO-NE grid, seeks reliable, low-carbon energy solutions to meet growing demand, particularly for data centers and industrial applications. BEV portfolio companies like Fervo Energy (geothermal) could offer baseload power alternatives to complement Seabrook’s output, while ZeroAvia’s hydrogen tech might support decarbonization of regional transport or industrial heat processes. Technology readiness varies across BEV’s portfolio, with some solutions (e.g., Fervo’s geothermal) closer to deployment than others (e.g., early-stage carbon capture). New Hampshire’s legislative initiatives, such as HB 710 supporting clean energy, align with BEV’s mission, though no specific SMR provisions directly tie to their current investments. There is no documented interest from BEV or its companies in the Northeast US specifically, but their focus on scalable, grid-compatible solutions suggests potential fit. Deployment timelines for NH would depend on individual portfolio company progress and local policy support. ### Competitive Position BEV operates in a competitive venture capital landscape for climate tech, alongside firms like: - **[[Lowercarbon Capital]]**: Focuses on a broad range of carbon reduction startups, often with shorter investment horizons compared to BEV’s patient capital model. BEV’s advantage lies in its high-profile backing and long-term commitment. - **[[Energy Impact Partners]]**: Targets energy transition with a utility-focused approach, contrasting with BEV’s broader sector coverage. BEV risks over-diversification across too many early-stage bets. - **[[Clean Energy Ventures]]**: Emphasizes smaller, targeted investments in renewables, while BEV’s larger funds allow for bigger, riskier plays with potentially higher impact. BEV’s unique strength is its founder-led vision and global partnerships, though it faces risks from the inherent uncertainty of early-stage tech development. ### Closing Note Breakthrough Energy Ventures remains a pivotal player in climate tech investment, with a robust portfolio and ambitious trajectory to drive net-zero innovation by 2050. (Note: No official RSS feed for press releases or news was found on [breakthroughenergy.org](https://www.breakthroughenergy.org) or related investor pages after a thorough search.) *Report generated December 24, 2025*