Leading energy investor Breakthrough Energy Ventures invests USD 12,5 million in Baseload Capital
Breakthrough Energy Ventures, an investor-led fund backed by some of the world’s leading business executives, has invested USD 12.5 million in Baseload Capital to accelerate the global deployment of low temperature geothermal heat power.
Breakthrough Energy Ventures invests in cutting-edge companies that demonstrate the potential to reduce at least a half gigaton of greenhouse gas (GHG) emissions every year. The fund focuses on five grand challenges with the most opportunity for impact: electricity, transportation, agriculture, manufacturing and buildings.
Breakthrough Energy Ventures has invested USD 12.5 million in Baseload Capital to accelerate the global deployment of low temperature geothermal heat power, a significant opportunity to address GHG emissions in the production of electricity.
- We believe that a baseload resource such as low temperature geothermal heat power has the potential to transform the energy landscape. Baseload Capital, together with Climeon’s innovative technology, has the potential to deliver GHG-free electricity at large scale, economically and efficiently, noted Carmichael Roberts of Breakthrough Energy Ventures.
- We look forward to working together with Breakthrough Energy Ventures. Their investment team consists of some of the world’s most knowledgeable people within the energy industry. They are in turn supported by several of our time’s greatest entrepreneurs. We see that Breakthrough Energy Ventures will add international expertise and a network that will accelerate the deployment of heat power globally, says Alexander Helling, CEO of Baseload Capital.
The capital injection will be used to invest in Heat Power Operators to accelerate the deployment of geothermal heat power plants that can produce clean electricity 24/7. Baseload Capital, Breakthrough Energy Ventures and Climeon will collaborate on this effort.
About Breakthrough Energy Ventures
Breakthrough Energy Ventures (BEV) is a for-profit, investor-led fund created to accelerate the world’s transition to clean energy. BEV has more than $1 billion in committed capital to fund scientific breakthroughs with the potential to deliver affordable, reliable clean energy. The fund prioritizes investments across the five grand challenges that contribute most to greenhouse gas emissions: electricity, transportation, agriculture, manufacturing and buildings. BEV was created by the Breakthrough Energy Coalition in 2016 and is backed by an investor group that includes many of the world’s top business leaders.
For more information visit www.b-t.energy/ventures/
For more information, please contact:
Alexander Helling, CEO, Baseload Capital
+46 73 772 4020