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Tag: Breakthrough Energy Ventures

  • Bill Gates’ Breakthrough Energy Ventures Leads Investment in Ag Robots

    Bill Gates’ Breakthrough Energy Ventures Leads Investment in Ag Robots

    Breakthrough Energy Ventures has led a $53 million Series C investment round in Iron Ox, a leading agricultural robot company.

    Since retiring from Microsoft, Bill Gates has dedicated his time to a number of causes, including climate change. His Breakthrough Energy Ventures is a climate fund that encompasses a number of different organizations.

    Breakthrough Energy’s latest investment is in Iron Ox, a company that launched autonomous farming in 2018.

    Iron Ox, which launched autonomous farming in 2018, grows produce in proprietary greenhouses designed from the ground up to mitigate the environmental impacts of agriculture — a data-driven approach backed by plant science, robotics and artificial intelligence.

    The closed-loop system optimizes plant yield, expands growth cycles and maximizes crop quality. The result is delicious, nutritious, locally sourced fruits and vegetables that currently cost about the same as produce from conventional farms, with substantially lower environmental impacts.

    This round of $53 million brings total funding to $98 million.

    “World-class investors know that humanity’s most important pursuit is to reverse climate change. To get there, we can’t settle for incrementally more sustainable crops — and we can’t ask consumers to compromise on taste, convenience or value,” said Iron Ox CEO and Co-Founder Brandon Alexander. “We are applying technology to minimize the amount of land, water and energy needed to nourish a growing population. The team at Iron Ox will not stop until we achieve our long-term mission of making the produce sector carbon negative.”

  • United and Mesa Buying 200 Electric Aircraft From Heart Aerospace

    United and Mesa Buying 200 Electric Aircraft From Heart Aerospace

    United Airlines and Mesa Air Group are each buying 100 electric aircraft from Swedish company Heart Aerospace.

    Electric automobiles may get the bulk of the the media’s attention, but electric aircraft are on the verge of going mainstream. Mesa and United Airlines Ventures, along with Breakthrough Energy Ventures, are taking a big step in that direction, with each airline ordering 100 electric aircraft from Heart Aerospace. The companies plan on using them for short-haul trips, where the limited range will not be a factor.

    “Breakthrough Energy Ventures is the leading voice of investors who are supporting clean-energy technology creation. We share their view that we have to build companies who have real potential to change how industries operate and, in our case, that means investing in companies like Heart Aerospace who are developing a viable electric airliner,” said Michael Leskinen, United’s Vice President Corp Development & Investor Relations, as well as UAV’s President. “We recognize that customers want even more ownership of their own carbon emissions footprint. We’re proud to partner with Mesa Air Group to bring electric aircraft to our customers earlier than any other US airliner. Mesa’s long serving CEO, Jonathan Ornstein has shown visionary leadership in the field of electric-powered flight.”

    The companies hope to introduce the aircraft to the market as early as 2026.

    “As we continue to explore opportunities in electric aviation, we are excited to expand our efforts to reduce the reliance on fossil fuels in the airline industry and are proud to work with Heart to launch the world’s first electric regional aircraft. Mesa intends to continue its expansion through the introduction of revolutionary technology that benefits our passengers and the environment. We are delighted to take this important step in the de-carbonization of air travel through our co-investment with Breakthrough Energy Ventures and United Airlines Ventures in Heart”, said Jonathan Ornstein, Mesa Air Group Chairman and Chief Executive Officer. “These technological innovations are good for the environment, will expand the national transportation system, and provide significant growth opportunities for Mesa. We look forward to reconnecting with communities and passengers we previously served.”