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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