Secretive energy startup backed by Bill Gates achieves solar breakthrough
CNNNew York CNN Business — A secretivestartup backed by Bill Gates has achieved a solar breakthrough aimed at saving the planet. “We are rolling out technology that can beat the price of fossil fuels and also not make the CO2 emissions,” Bill Gross, Heliogen’s founder and CEO, told CNN Business. “And that’s really the holy grail.” Heliogen, which is also backed by billionaire Los Angeles Times owner Patrick Soon-Shiong, believes the patented technology will be able to dramatically reduce greenhouse gas emissions from industry. “You’ve ended up with technologies that can’t really deliver super-heated systems,” said Olav Junttila, a partner at Greentech Capital Advisors, a clean energy investment bank that has advised concentrated solar companies in the past. “Its capacity to achieve the high temperatures required for these processes is a promising development in the quest to one day replace fossil fuel.” Heliogen, founded by Bill Gross, must convince industrial companies it's worth the investment to switch over to its solar technology.
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