When well-known investors support startups or projects, the hype is usually inevitable. And if it’s none other than Bill Gates, you can probably expect a lot from the companies he funds.
As reported by the US news portal “Bloomberg”, Bill Gates and other investors are providing a billion US dollars (830 million euros) to cleantechs with their Breakthrough Energy Ventures (BEV) fund. And that after they have already supported 45 companies in the renewable energy sector with one billion dollars in an initial financing round.
BEV only expects profits after 20 years
According to “Bloomberg”, financing cleantech between 2006 and 2011 already experienced a hype. But most investors went out of business with losses. In between there was the financial crisis. But the decisive factor was that they had hoped for a development similar to that of Internet startups and expected a return within five years. To make matters worse, profitability depended heavily on government regulators.
The BEV fund, which was founded in 2016, is therefore designing its financing model for 20 years. And although this is also profit-oriented, the financed companies should be able to show that they will one day be able to save 500 billion tons of CO₂ emissions per year. That corresponds to a good one percent of global emissions. Among other things, BEV has invested in a US startup called Quidnet, which stores energy using hydraulic pump technology.
Nine officially promising German cleantechs
But promising cleantechs have also established themselves in Germany. Once a year the Cleantech Group selects the 100 companies that promise the most in the field of renewable energies worldwide. Nine of them come from Germany. The only conditions to be able to participate: You must be independent, work for profit and must not be listed on the stock exchange.
Landing on this list offers the mostly very young companies a good chance of getting the focus of well-known investors: like Shell Ventures or BNP Paribas.
Envelio, Next Kraftwerke, the thermostat manufacturer Tado, the storage technology provider Skeleton Technologies, the urban farming company Infarm and the hydrogen mobility start-up Hydrogenious were able to stay on the list. New are Enapter, Cloud and Heat and Twaice. In contrast to last year, the air taxi startup Lilium is no longer represented.
See which companies have made it here: