Bill Gates and Chris Sacca invest $50 million in renewable energy startup
Photo: Reuters
Microsoft founder Bill Gates' Breakthrough Energy Ventures has partnered with Chris Sacca's investment firm Lowercarbon Capital to invest $50 million in Antora Energy, a renewable energy (RES) startup. It is reported by CNBC.
Founded in 2018, Antora Energy derives zero-emission energy from wind and solar. It is turned into heat and placed in blast-furnace blocks, insulated in a thermal battery the size of a small house. After the energy is used in the production of cement and steel or converted into electricity. It is expected that such a battery will replace the gas boiler. Antora Energy plans to sell its product to large industrial companies, providing them with cheap and planet-friendly fuel.
Investing in a startup along with Gates, Sacca noted that it is the low price that will attract customers. “Antora has made heat and electricity from solar energy cheaper than using gas. The oil and gas industry can ignore global warming as much as they want, but buyers always choose the best deal. And this means that fossil fuels will lose popularity, ”said the investor.
At the moment, the Antora Energy project is still in development. The company plans to begin rollout no earlier than the end of 2023. It was only a couple of years ago that solar and wind energy became cheap enough to compete with fossil fuels, according to startup CEO Andrew Ponets.
In January, a U.S. startup developing solar-powered windows received funding. Ubiquitous Energy has created coated glass that converts sunlight into energy. The creators of the startup believe that with the help of their product they will be able to provide skyscrapers and private houses with green energy.
