|19 November, 2019

Bill Gates’ energy ventures have 50% success chance, still he supports innovations

The world’s richest man said he would be interested in collaboration with the UAE in renewable energy sector

Microsoft founder Bill Gates smiles while playing bridge with Warren Buffett, CEO of Berkshire Hathaway Inc, as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018.

Microsoft founder Bill Gates smiles while playing bridge with Warren Buffett, CEO of Berkshire Hathaway Inc, as part of the company annual meeting weekend in Omaha, Nebraska U.S. May 6, 2018.

Reuters/Rick Wilkins

ABU DHABI - The world’s richest man Bill Gates said the energy ventures supported by him risked a 50 percent failure, still he wanted to encourage innovations.

He was answering a question about the venture of Heliogen, a California-based company, which invented a technology using artificial intelligence and a field of mirrors, to turn sunlight into a source of heat above 1,000 degree Celsius that could help replace fossil fuels.

"It is even harder than normal venture capital the energy space is very difficult. But we have to accelerate the innovation," Gates explained.

He said he would be interested in collaboration with the UAE in renewable energy sector after the successful cooperation in polio eradication efforts across the globe.

He appreciated the efforts of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, who pledged on Tuesday US$160 million for global polio eradication efforts.

Gates said his foundation’s 8-year long investments in polio vaccine would make some breakthrough in the next year.

He expressed optimism that polio would be completely eradicated from remaining countries such as Pakistan and Afghanistan.

The political leadership in those countries have extended sincere support towards this mission, Gates concluded.

© Copyright Emirates News Agency (WAM) 2019.