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Grumet: Gates’ Energy Investment Plan Will Accelerate Innovation

Monday, November 30, 2015

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Washington, D.C. – Bipartisan Policy Center President Jason Grumet today made the following statement in support of Bill Gates’ announcement of an international energy research and development investment fund:

“The Bipartisan Policy Center applauds Bill Gates, other leading investors, and numerous countries for their unprecedented effort to accelerate clean energy breakthroughs. BPC is proud to support innovation through our work with the American Energy Innovation Council (AEIC), a group of business leaders, including Mr. Gates, who are working to reestablish America’s energy technology leadership. New and revolutionary technologies are often too risky to secure private sector investment at the scale needed for timely commercialization. As a result many promising ideas languish and others never leave the laboratory. Mission Innovation and the Breakthrough Energy Coalition Fund will bridge critical chasms in the technology development process. While many of the high-risk projects supported by the Breakthrough Energy Coalition Fund will fail, one or two of these technologies could change the world by providing global access to affordable non-carbon energy.

“It’s critical that we leverage these types of investments if we are to improve our energy security and create the economic and environmental benefits Americans deserve. The best way to do that has always been and will continue to be smart federal investments built on effective public-private partnerships. While technology commercialization must be led by the private sector, government R&D has been the indispensable catalyst behind many of the technological marvels we take for granted. In concert with today’s private sector announcement and the President’s support for increasing public investment, BPC reiterates our support for AEIC’s recommendation to triple federal investment in energy innovation. While the debate over climate change will remain polarized, we urge Congress to double down on the broad based support for accelerating energy innovation.”