Instructions: In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.
Input: Nearly two dozen of the world’s most successful business leaders, entrepreneurs, and venture capitalists will invest up to $1 billion in a fund led by Microsoft-co-founder Bill Gates that aims to reduce greenhouse gas emissions to almost zero by financing emerging clean energy technology. 
  
 The Breakthrough Energy Ventures Fund includes John Doerr, chairman of venture firm Kleiner Perkins Caufield & Byers, Alibaba founder Jack Ma, Khosla Ventures founder Vinod Khosla, Laura and John Arnold Foundation co-chair and former energy hedge fund manager John Arnold, Amazon founder and CEO Jeff Bezos, and SAP co-founder Hasso Plattner. 
  
 “I am honored to work along with these investors to build on the powerful foundation of public investment in basic research,” BEV chairman Bill Gates said in a statement Sunday night. “Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world.” 
  
 The new fund is part of the Breakthrough Energy Coalition, which Gates launched in December 2015 in an effort to bring together a global group of investors who were committed to developing the nest-generation of energy technologies. The BEC was launched alongside Mission Innovation, a multi-billion clean energy research and development initiative on the opening day of the U.N. climate change summit in Paris. The countries participating in the initiative committed to doubling their clean energy technology research and development budgets by 2020 and private investors will boost their own investments in the sector. 
  
 BEV will help build companies based on the promising technologies that come out of these countries’ scaled-up public research pipelines, according to participants in the fund. 
  
 The new fund, which will have a 20-year lifespan, is designed to be both broad and scientific—two seemingly contradictory focuses—in its investment approach. The fund will not be confined to a specific segment of the investment pipeline, which means it will put money into startups at the earliest of stages all the way to companies that have reached commercialization. The fund will consider investments across a broad number of energy sectors, including electricity generation and storage, transportation, industrial system use, agriculture, and energy system efficiency. 
  
 At the same time, BEV will collaborate with other investors, governments, research institutions, and corporate partners to develop a fund with internal scientific expertise. The goal here isn’t for a quick flip, in terms of return on investment. Instead it’s meant to look towards startups and companies with the best energy technology—with the understanding that these might be long-term and involve the kind of risks required to transform energy markets,according to the coalition. 
  
 The coalition also shared its “Landscape of Innovation,” a guide of sorts for public and private investors interested in putting their money towards technology that could lead to a zero-carbon emissions world. 
  
 Cleantech was a rising venture star a decade ago with funds, including those started by Kleiner Perkins Caufield & Byers and Khosla Ventures investing in startups such as Bloom Energy and geothermal company AltaRock Energy. But cleantech lost it’s luster for some firms even as the global population and the planet’s temperature continue to rise. Some of these investments have helped fund breakthrough in clean energy that have led to commercial adoption. While others, have fallen flat. 
  
 Solar panel installations have boomed in the U.S., China, and parts of Europe thanks to a combination incentives, venture funding, and regulations. While commercializing low-cost biofuels, energy storage, as well as carbon capture and storage have hit a myriad of headwinds. ||||| Bill Gates is leading a more than $1 billion fund focused on fighting climate change by investing in clean energy innovation. 
  
 The Microsoft co-founder and his all-star line-up of fellow investors plan to announce tomorrow the Breakthrough Energy Ventures fund, which will begin making investments next year. The BEV fund, which has a 20-year duration, aims to invest in the commercialization of new technologies that reduce greenhouse-gas emissions in areas including electricity generation and storage, transportation, industrial processes, agriculture, and energy-system efficiency. 
  
 “Anything that leads to cheap, clean, reliable energy we’re open-minded to,” says Gates, who is serving as chairman of BEV and anticipates being actively involved. 
  
 The directors of BEV include Alibaba founder Jack Ma, Reliance Industries chairman Mukesh Ambani, venture capitalists John Doerr and Vinod Khosla, former energy hedge fund manager John Arnold, and SAP cofounder Hasso Plattner. The combined net worth of the directors is nearly $170 billion, based on estimates of their individual wealth by Bloomberg and Forbes. 
  
 “It’s such a big market that the value if you’re really providing a big portion of the world’s energy, the value of that will be super, super big” 
  
 Gates had last year announced his intention to personally invest an additional $1 billion in clean energy technology. He was also among the 28 wealthy individuals and families signed on to the Breakthrough Energy Coalition, a group broadly committed to investing in this area. The new fund, which includes many of them, is a next, concrete step toward actually deploying their capital. 
  
 Gates says that he’s been surprised that technology innovation isn’t discussed more as a solution to climate change, since clean-energy advances could limit any economic trade-offs from switching off carbon-emitting fossil fuels. ”All of that takes place just as a normal market mechanism as you replace energy sources with other ways to do it,” he says. 
  
 But a recent wave of clean energy technology investing turned out miserably for many venture capital investors, with one study estimating that VC firms invested over $25 billion from 2006 to 2011 and lost more than half that money. Institutional investment in this area has remained limited as a result, which Gates and his fellow investors describe as a market failure that large-scale, long-term private investments can address. 
  
 Gates acknowledges that investing in energy is harder than investing in information technology: “People think you can just put $50 million in and wait two years and then you know what you got. In this energy space, that’s not true at all.” 
  
 But he adds that it’s an uncrowded investing field. “It’s such a big market that the value if you’re really providing a big portion of the world’s energy, the value of that will be super, super big.” BEV estimates the global energy market at $6 trillion, with energy demand increasing by one-third by 2040. 
  
 The BEV effort suits Gates’s nerdy interest in science research and experience investing in energy technology. He has personally made extensive investments in various energy technology companies over the years, including nuclear energy startup TerraPower, which he helped launch and where he serves as chairman. His $1 billion investment pledge from last year spans investments he has made subsequently, this fund, and other investments he might make down the line. 
  
 Energy storage technology is among the areas where BEV will likely invest as part of a first wave, as more efficient and cheaper storage permits greater reliance on intermittent clean energy sources such as solar and wind power. 
  
 One thesis driving the fund is that only governments have the resources to invest in fundamental research, through government labs and funding for university research, at a scale that is needed for breakthrough advances. Government funding in areas such as battery technology and materials used for solar power, for example, has seeded the growth of those areas, with their commercialization subsequently funded by private investors. 
  
 “You need investment to take things out of a research lab at a university like Stanford, or MIT, Berkeley, and many other places, or national labs, for example, they’re doing a lot of research,” says Arun Majumdar, a Stanford University professor who was the acting US undersecretary of Energy and is advising BEV. 
  
 Gates was involved in last year announcing an initiative called Mission Innovation, where 22 countries and the European Union aim to double investment in clean energy research over five years. The US is among those countries, but president-elect Donald Trump and his appointees have been vocal climate-change deniers and could potentially be skeptical of US investment in clean-energy technology. 
  
 “The dialogue with the new administration as it comes in about how they see energy research will be important,” Gates says. “The general idea that research is a good deal fortunately is not a partisan thing.” 
  
 The richest group of investors ever assembled? 
  
 Gates and his co-directors first convened at the Four Seasons hotel in Seattle in August for two days to hash out their approach to the fund, with Ma and Plattner conferencing in. Among the topics the group actively debated was whether there really was a good existing pipeline of companies to fund, and what that meant for how quickly they could invest, according to Arnold. 
  
 “Being a 20-year fund with patient capital that’s not needing short-term gains allows us to have a longer-term outlook as well as fund technologies that don’t fit into the traditional VC model as it exists today,” says Arnold. 
  
 The list of 20 initial investors in the fund is an even-more comprehensive catalog of the world’s richest and most powerful, including Kingdom Holding’s prince Alwaleed bin Talal, Amazon’s Jeff Bezos, Virgin’s Richard Branson, Bridgewater Associates’ Ray Dalio, African Rainbow Minerals’ Patrice Motsepe, Iliad Group’s Xavier Niel, SoftBank’s Masayoshi Son, and SOHO China’s Zhang Xin and Pan Shiyi. 
  
 The directors are currently recruiting a management team for the fund, the core of which Gates hopes will be in place within about three months. 
  
 The fund, which won’t charge investors management fees beyond its operating costs, will likely start with a temporary office in the heart of the US venture capital industry on Sand Hill Road in Menlo Park, California. It’s expected that the size of the initial fund will increase, with more investors coming on board, and it’s possible that Breakthrough Energy Ventures eventually launches additional funds. 
  
 Gates says that the success of the effort for clean, reliable, affordable energy depends on deploying far more than the $1 billion in capital committed to the BEV fund. He plans to work personally to get strategic partners such as energy companies involved in funding and supporting the promising technology breakthroughs. ||||| Bill Gates and more than a dozen of the world’s wealthiest individuals revealed a new $1 billion investment fund late Sunday to foster major advances in clean energy production. 
  
 Dubbed Breakthrough Energy Ventures, the 20-year fund is backed by a mix of technology luminaries and heavyweights from the energy industry. The goal is to pump money into risky, long-term energy technology that could dramatically reduce greenhouse gas emissions, according to a statement. The investments will likely go into areas such as electricity generation and storage, agriculture and transportation. 
  
 Bill Gates. Photographer: Andrew Harrer/Bloomberg 
  
 Investors include Jeff Bezos, founder and chief executive officer of Amazon.com Inc., Richard Branson, the founder of Virgin Group Ltd., Jack Ma, the executive chairman of Alibaba Group Holding Ltd., John Arnold, a billionaire natural gas trader, and Prince Alwaleed Bin Talal, the founder of Kingdom Holding. 
  
 Last year, a number of these investors joined Gates in announcing the Breakthrough Energy Coalition -- a group of wealthy investors who pledged to aim a large portion of their fortunes toward energy technology. The arrival of the fund marks a more concrete step by this group toward their stated goals. 
  
 "I am honored to work along with these investors to build on the powerful foundation of public investment in basic research,” Gates said in a statement. “Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world." 
  
 Gates, co-founder of Microsoft Corp., spent much of the last year stumping for advances in energy production. He maintains that things like solar plants, nuclear power and electric cars will do little to solve global warming in the relatively near-term. The only way to halt global warming is to find an energy source that produces no greenhouse gases, Gates has said. 
  
 He has personally backed a number of radical energy startups and has encouraged other wealthy individuals to follow suit. Clean energy was a hot niche of venture capital investing several years ago, but many of those investments didn’t pan out and some VC firms pulled back. 
  
 "The dearth of venture funding for clean energy technologies threatens to create a valley of death for the industry, with emerging ideas unable to find the necessary capital to reach commercialization," Arnold said in a statement. "As an investor led effort, Breakthrough Energy Ventures is designed as a source of patient capital to spur innovation to meet the growing demand for low-cost, clean energy solutions." 
  
 Two venture capitalists who have invested in clean energy startups -- John Doerr and Vinod Khosla -- are among the backers of the new fund. |||||
Output:
Bill Gates has lined up more than a dozen of his fellow billionaires to go where many investors now fear to tread: cleaner energy technologies. Gates announced Sunday night that he's leading the Breakthrough Energy Ventures fund, which plans to invest up to $1 billion in technology that could dramatically cut greenhouse-gas emissions, Fortune reports. "Our goal is to build companies that will help deliver the next generation of reliable, affordable, and emissions-free energy to the world," Gates said. The fund, which has a 20-year life span, plans to invest in sectors including electricity generation, agriculture, and transportation. "Anything that leads to cheap, clean, reliable energy we're open-minded to," Gates said, per Quartz. He said investing in energy is tougher than investing in IT, but the potential rewards are "super, super big." Gates has brought together investors worth $170 billion, including Amazon's Jeff Bezos, Alibaba chief Jack Ma, and natural gas trader Jack Arnold. ("The richest group of investors ever assembled?" asks Quartz.) Bloomberg notes that many venture capitalists backed clean energy several years ago, but investment dried up after the gambles failed to pay off. "The dearth of venture funding for clean energy technologies threatens to create a valley of death for the industry, with emerging ideas unable to find the necessary capital to reach commercialization," Arnold said in a statement. "As an investor-led effort, Breakthrough Energy Ventures is designed as a source of patient capital to spur innovation to meet the growing demand for low-cost, clean energy solutions." (Gates' recent dealings with chickens.)