Philanthropist and investor Bill Gates
increased his investment in automotive engine maker EcoMotors International, the company announced Tuesday. Gates, venture firm Braemar Ventures and Khosla Ventures – run by billionaire investor Vinod Khosla – put $32.5 million into EcoMotors, bringing total funds raised to date to $66 million. Gates’ specific dollar investment was not announced.
EcoMotors, founded in 2008 and based in Allen Park, Mich., is working on building automotive engines that consume half the fuel and emit 50% fewer greenhouse gases than traditional engines. Gates first invested in EcoMotors in 2010, alongside Khosla Ventures.
Over the years Bill Gates
has invested in a number of clean technology and energy companies, including ethanol maker Pacific Ethanol (PEIX
) back in 2005 (he sold his stake in the company in 2008) and nuclear power company TerraPower in 2010. He’s also made a large investment in water- and food-processing giant Ecolab (ECL
).Continue reading here
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