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Breakthrough Energy Ventures leads with energy-storage investments

This is what a climate-action deal pipeline looks like.

The BEV, with $1 billion in commitments from Bill Gates, Jeff Bezos, Jack Ma, Mukesh Ambani, Richard Branson and others, joined a $6.4 million funding round for Quidnet Energy, which turns old oil wells into energy storage vaults.

ImpactAlpha readers know Quidnet as the first investment from Prime Coalition, Sarah Kearney’s network of clean-energy investing foundations, which spots high-potential, early-stage climate solutions.

BEV also invested in a $9 million round for Form Energy, which is developing battery chemistries to lower renewable-energy storage costs, reports Quartz.

Grid-scale energy storage is one of BEV’s five priority clean-energy sectors.

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