Breakthrough Energy Ventures, run by the Bill and Melinda Gates Foundation, has made some aggressive moves in the recent months, including becoming the lead investor in Type One Energy.
Type One Energy is an energy startup that seeks to provide clean energy to the developing world through the use of fusion energy. The fusion process, which creates a clean, self-sustaining energy source, is made by combining lithium and deuterium into a machine known as a stellarator. The stellarator converts the lithium into tritium and then binds it to the deuterium to create an ultra-dense fuel combination of helium and neutrons.
According to Type One, this energy is so dense and rich that just 1 gram of it releases as much energy as burning 10,000 kilograms of coal. What that translates to for cities and areas with developing infrastructures is an energy source so powerful that just a few hundred kilograms of it can power an entire city for a year.
The investment is one among many by the prominent venture capital firm. Bill Gates's Breakthrough Energy Ventures is one of the most prominent investors in startups looking to reduce humanities carbon footprint. Retail investors have also invested substantially into the space. For example, Qnetic is creating a low-cost energy solution. The startup recently launched on Wefunder, which means anyone can invest for a limited time, and already seen substantial traction on the platform.
The deuterium used for the process is a basic component of seawater, which means it is an almost limitless source material for the stellarator fusion process. The lithium used by the process can be harnessed from already existing production sources. When put together with the stellarator, you end up with an energy source that is clean, renewable and incredibly powerful.
Not only can the fusion process create more than enough energy for large cities, but the stellarator process is also driven by magnetic fields, which means it is 100% stable and not subject to disruption. The stellarator and energy fusion process pioneered by Type One is scalable and can be used to augment the production capabilities of local energy grids, which means it can be installed without the long permitting process that usually bogs down new energy infrastructure projects.
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The Type One stellarator is capable of reaching an important threshold known as net energy, which means it generates energy that meets the following critical criteria of energy production:
- The energy is hot enough to provide power.
- The energy is close enough to the dependent infrastructure to power it.
- The energy burns long enough to provide continuous power.
More importantly, the helium and neutrons produced in the stellarator process are inert, which means the process shuts down automatically if the stellarator fails or malfunctions. That means there is no chance of meltdowns or some of the other hazards presented by nuclear power.
Microsoft Corp. Founder Bill Gates has made no secret of his concerns about the big issues facing humankind. Foremost in his mind of these big issues is climate change, which is posing a bigger threat every day. Accordingly, he's invested a significant portion of his own wealth, and that of his foundation, into companies advancing technology like renewable and sustainable energy.
Considering all the upside provided by Type One, it's not hard to understand why Gates and Breakthrough Energy are so bullish on its future and became lead investors. Type One's system could be connected to existing electrical infrastructures that don't currently generate enough reliable power to serve their customers without raising the amount of carbons and fossil energy consumed by the plant. It has the potential to revolutionize energy production in both developed and developing economies.
Type One is in the pre-seed funding stage of its development. But the stellarator process is sound, and the long-term potential of the stellarator is nearly limitless. The renewable energy sector is lucrative and this could be a game-changer. That means there is a tremendous opportunity for investors when Type One enters the next stage of the fundraising process.
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