Monday, March 4, 2019

Sweden: Billionaires Invest in Climeon Geothermal Heat Power Modules

Bill Gates and Jeff Bezos-backed fund invests in a global geothermal energy project developer (Tech Crunch)

Breakthrough Energy Ventures, the investment firm financed by billionaires like Jeff Bezos, Bill Gates, and Jack Ma that invests in companies developing technologies to decarbonize society, is investing $12.5 million in a geothermal project development company called Baseload Capital.

Baseload Capital is a project investment firm that provides capital to develop geothermal energy power plants using technology developed by its Swedish parent company, Climeon.

The company’s modules — which stand around two meters cubed, produce 150 kilowatts of electricity, which is enough to power roughly 250 European households, according to a company spokesperson.

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