Philanthropist and investor Bill Gates increased his investment in automotive engine maker EcoMotors International, the company announced Tuesday. Gates, venture firm Braemar Ventures and Khosla Ventures – run by billionaire investor Vinod Khosla – put $32.5 million into EcoMotors, bringing total funds raised to date to $66 million. Gates’ specific dollar investment was not announced.
EcoMotors, founded in 2008 and based in Allen Park, Mich., is working on building automotive engines that consume half the fuel and emit 50% fewer greenhouse gases than traditional engines. Gates first invested in EcoMotors in 2010, alongside Khosla Ventures.
Over the years Bill Gates has invested in a number of clean technology and energy companies, including ethanol maker Pacific Ethanol (PEIX, Financial) back in 2005 (he sold his stake in the company in 2008) and nuclear power company TerraPower in 2010. He’s also made a large investment in water- and food-processing giant Ecolab (ECL, Financial).
Continue reading here.
EcoMotors, founded in 2008 and based in Allen Park, Mich., is working on building automotive engines that consume half the fuel and emit 50% fewer greenhouse gases than traditional engines. Gates first invested in EcoMotors in 2010, alongside Khosla Ventures.
Over the years Bill Gates has invested in a number of clean technology and energy companies, including ethanol maker Pacific Ethanol (PEIX, Financial) back in 2005 (he sold his stake in the company in 2008) and nuclear power company TerraPower in 2010. He’s also made a large investment in water- and food-processing giant Ecolab (ECL, Financial).
Continue reading here.
