August 13, 2021 Read More →

Gates fund to commit $1.5 billion for joint U.S. government projects

Wall Street Journal ($):

Microsoft Corp. co-founder Bill Gates said his climate investment fund will commit $1.5 billion for joint projects with the U.S. government if Congress enacts a program aimed at developing technologies that lower carbon emissions.

A roughly $1 trillion infrastructure bill passed by the Senate this week would give the Energy Department $25 billion for demonstration projects funded through public-private partnerships, part of more than $100 billion to address climate change. The House hasn’t yet approved the legislation.

Mr. Gates, in an interview with The Wall Street Journal, said a fund run by his Breakthrough Energy could spend the money over three years on projects aimed at slowing the greenhouse-gas emissions that cause climate change. The Breakthrough projects, which would have to compete with other applicants for the funds, could include emissions-free fuel for planes and technology to suck carbon dioxide out of the air.

[Timothy Puko]

More: Bill Gates Pledges $1.5 Billion for Infrastructure New Climate Projects

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