AEIC Praises Breakthrough Energy Ventures' Commitment to Commercializing Public Energy Research

Washington, D.C. – The American Energy Innovation Council (AEIC) congratulates Bill Gates, John Doerr, and all the leaders of Breakthrough Energy Ventures for their bold commitment to U.S. competitiveness and global sustainablity. AEIC believes this group of investors will play a critical role in building on important public investments in energy R&D to commercialize new technologies. This $1 billion fund, aimed at countries participating in the Mission Innovation initiative, shows that the private sector is an important partner in the development of clean, affordable, and reliable energy. It also demonstrates clearly that despite challenges, markets for advanced energy technologies present an enormous economic opportunity. Those with the foresight to invest in a 21st century energy future will reap benefits that will transform entire economies.

Breakthrough Energy Ventures is a solution accelerator that could make an enormous difference in the lives of people all over the world.

Throughout the long and storied history of public-private partnerships in energy research, persistence and vision have been decisive. AEIC believes the long-term approach and focus on partnering with public research institutions will position Breakthrough Energy Ventures for success. Unconventional gas production is a perfect example of how this model can operate: technologies developed by public research that began in the mid-1970s were later commercialized by visionary private sector partners and have led to a 12 percent reduction in U.S. carbon dioxide emissions since 2005. In 2014 alone, these technologies supported 2.7 million jobs and contributed $430 billion to U.S. GDP.

“We do not have the technologies today to solve the climate problem and advance global prosperity,” said Jason Grumet, president of the Bipartisan Policy Center, which supports AEIC. “Breakthrough Energy Ventures is a solution accelerator that could make an enormous difference in the lives of people all over the world.”