CHENGDU, Dec. 13 (NBD) -- The Breakthrough Energy Coalition announced on Monday to establish a fund worth one billion US dollars. The fund is to invest in new energy enterprises in the initial stage and the growth stage in the next 20 years, seeking the breakthrough technology without greenhouse gas emission.

The Breakthrough Energy Coalition was founded at the 2015 United Nations Climate Change Conference by 27 global billionaires including Bill Gates (Co-chair of Bill & Melinda Gates Foundation), Jack Ma (Executive Chairman of Alibaba Group),the couple Pan Shiyi and Zhang Xin (Co-founder and CEO of SOHO) and Jeff Bezos (the founder and CEO of Amazon).

New energy projects used to be Silicon Valley stars attracting a total of 6.1 billion US dollars before 2008. However, enterprises, surviving merely on VC investment, government loan and tax preference, failed ultimately. Those abortive projects have been widely criticized.

Now, with the support of those influential icons in the business circle, startups in new energy are likely to access more opportunities.