Bill Gates Foundation invested $50 million in Startup that turns Alcohol into aviation fuel
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Bill Gates Breakthrough Energy Fund which was founded in 2015 with the motive to boost innovation in Renewable and Clean Energy has funded $50 million to a startup which is making renewable jet fuel from alcohol.
The startup named as LanzaJet has been granted fund by The Breakthrough Energy Fund. LanzaJet is building its first commercial plant in Soperton, Georgia and the funding will be helpful for achieving their goal. Lanzajet is making Ethanol from products like waste corn and sugarcane.
Breakthrough Energy Fund has granted $50 million to LanzaJet a startup to build a huge refinery plant that will produce Jet fuel from Ethanol.
LanzaJet has officially announced that they have received a funding from Breakthrough Energy fund founded by Bill Gates. Breakthrough Energy Fund has been investing in start-ups which are doing innovations in achieving Green and Renewable Energy.
As we have a limited amount of Natural resources like petroleum, coal etc. and its effects to the environment has made us think for the alternative options, Renewable Energy is something that will completely change the current scenario in coming 10 to 15 years or so.
Many Big Tech Giants as well as startups has been continuously working on renewable energy domain but due to the limited production its hard for the industry's to quickly adopt it and turn carbon free.
LanzaJet will start production in their new plant starting from 2023. As per the reports shared by LanzaJet the plant will produce 9 million gallons of Jet fuel and 1 million gallons of diesel each year. and it will reduce the emissions upto 70% as compared with traditional method.
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