October 7, 2019

Philanthropy’s Critical Nuclear Moment


Philanthropy’s potential role in the science and development of nuclear power is significantly constrained, both by the overlap with impact investors and the traditionally dominant role played by government, especially abroad. Yet, the urgency of the need to address climate with technical solutions demands more of those with the ability to donate.  So, it may not surprise many, that there are now dozens of funders, grantees and other nonprofit organizations working in the pro-nculear space, who are committed to the mission of ensuring that nuclear thrives and succeeds in helping to decarbonize the planet.

Inside Philanthropy reporters interviewed more than a dozen of these individuals who share the belief that the fate of the Earth is dependent upon mankind's ability to support the continued deployment of safe and abundant nuclear, since, according to the IPCC and numerous key scientists, like James Hansen, it will be impossible to decarbonize the entire global economy with it within the appropriate time frame.

Among those interviewed included Armond Cohen, executive director and co-found of the non-profit Clean Air Task Force and Rachel Pritzker, president and founder of the Pritzker Innovation Fund, one of the earliest and best-known funders in the space, who sees nuclear a piece of a larger puzzle.

Sam Mar, VP at Arnold Ventures, noted that most philanthropic funding has gone to organizations supporting other types of zero-emission energy and that nuclear groups are significantly underfunded as a technology and industry group.  This view was confirmed by Matthew Nisbet, who published a research paper analyzing climate funding and who found that no grants at all were focused on promoting nuclear energy but rather, if there were grants, they were used for opposing nuclear energy.

So the question is, if philanthropists do want to support nuclear power, how can they do it?  According to Larry Kramer, president of the Hewlett Foundation, funders should be "helping to finish off the research and development on fourth-generation reactors, then helping develop poicies to implement and figure out where there is the support for siting new designs.

See Inside Philanthropy: Philanthropy's Critical Nuclear Moment or, if you don't have a subscription, see the reprint of the IP piece at Klean Industries.

August 14, 2019

Cleantech investing rebounds but critical capital gaps remain

Impact Alpha, a news service for "impact" investors, reports on stepped up investment by climate-savvy investors, willing to make long-term bets and data from Cambridge Associates showing a rebound in cleantech returns.

Despite this rosy overview and the addition of a few new climate-focused funds within the last few years, the total venture funding for high-risk, high-impact innovation is well off the 2008 peak.  Still, some of the capital being deployed is coming from limited partners with a mission to fight climate change and willingness to be more patient. Some of these are philanthropic donors.

"Everything is moving in the right direction," according to Matthew Nordan, of Prime Impact Fund, a group that raises philanthropic dollars to invest in risky climate ventures that provide "additionality,"  yet there's still an enormous amount more capital needed, "particularly at the high risk, high impact early innovation stage."

Read Dennis Price's article in ImpactAlpha: "Cleantech venture capital rebounds with smarter, more patient investors."

July 14, 2019

Peter Diamandis on energy abundance and the future of nuclear

Peter Diamandis, Chairman and Co-Founder of Singularity University, founder and executive chairman of the XPRIZE Foundation, writes a tech blog. We were sent a copy of the email that he sent out to subscribers on the future of nuclear, which begins as follows:

Yes, I want nuclear energy *in my back yard*!

Extraordinary new innovations are giving us failsafe nuclear fission and the potential to achieve our age-old dream of fusion.

This year, Bill Gates commented: “Nuclear is ideal for dealing with climate change, because it is the only carbon-freescalable energy source that’s available 24 hours a day. The problems with today’s reactors, such as the risk of accidents, can be solved through innovation.”

This blog is about convincing you to re-consider nuclear as a viable and critical idea. The upside of success is extraordinary, which is why, for the first time, we’re beginning to see venture capital make massive investments in the field.

Let’s dive in!

Read the rest of Diamandis' Tech Blog post: "Energy Abundance: The Future of Nuclear."

March 27, 2019

N.E.L.A. reintroduced, Bill Gates “thrilled”

Bill Gates wrote: “I’m thrilled that senators from both sides of the aisle have come together to support advanced nuclear. This is exactly the kind of leadership our country needs to both solve the climate challenge and reassert our leadership in this important industry,” in response to the re-introduction of the Nuclear Energy Leadership Act (NELA), submitted on March 27th, 2019 by a group of 15 senators led by Senator Lisa Murkowski of Alaska.

NELA, a bipartisan bill that would encourage further development of advanced nuclear energy programs that would help create high-quality jobs, strengthen national security, reduce foreign energy dependence, and promote emissions-free energy, was also introduced to the House in June 2019, by Congresswoman Elaine Luria (VA-02), Denver Riggleman (VA-05), Congressman Conor Lamb (PA-17), and Congressman Rob Wittman (VA-01).

“As an engineer who operated nuclear reactors on aircraft carriers, I know that ensuring a thriving civilian nuclear industry is vital not only for our economy, but for our national security,” Congresswoman Luria said. “Nuclear energy must be part of any solution to transitioning to a clean energy future because nuclear power provides over 55% of our carbon-free energy. That’s why I’m proud to reach across the aisle and introduce this critical bipartisan bill.”

“Yesterday, a bipartisan group of leaders in the US Senate introduced the Nuclear Energy Leadership Act, which establishes an ambitious plan to accelerate the development of advanced nuclear reactor technologies,” Bill Gates tweeted. “I can’t overstate how important this is,” he said.

The draft bill was formally introduced to the Senate by Murkowski on behalf of herself and Senators Cory Booker, James Risch, Joe Manchin, Mike Crapo, Lamar Alexander, Sheldon Whitehouse, Cory Gardner, Chris Coons, Dan Sullivan, Tammy Duckworth, Lindsay Graham, Michael Bennet, Shelley Moore Capito, and Rob Portman. It directs the US Secretary of Energy “to establish advanced nuclear goals, provide for a versatile, reactor-based fast neutron source, make available high-assay, low-enriched uranium for research, development, and demonstration of advanced nuclear reactor concepts, and for other purposes”.

Read SightlineU308's "Bill Gates ‘thrilled’ by legislative boost for nuclear" for more on Gate's response and read here for more about the Nuclear Energy Innovation Modernization Act.

June 15, 2013

Billionaires backing nuclear

Paul Allen, Sir Richard Branson, Ray Rothrock, Steve Kirsch, Stewart Brand, and Bill Gates support nuclear energy. In "Why Billionaire Paul Allen Backed Pro-Nuclear Power Film Pandora's Promise," author Kerry A. Dolan explores the reasons why these billionaires want to get people thinking about nuclear in a whole new way.

As the film itself explains, when actual facts about nuclear are laid out clearly, people can make up their own minds, which leads to informed decision-making, which, as Allen said, "is critical if we wat to tackle the world's biggest challenges."  Unfortunately, most people don't know the facts—just the myths about nuclear power.

Read more about how these powerful men became involved with the making of Pandora's Promise in Forbes' "Why Billionaire Paul Allen Backed Pro-Nuclear Power Film Pandora's Promise."

February 15, 2010

Bill Gates’ Innovating to Zero TED Talk


Bill Gates' TED talk in 2010 provided a huge amount of inspiration to us, when we first began this journey exploring the potential of investing in Advanced Nuclear.  In this video of his presentation, Gates unveiled his vision for the future of energy, describing why he is funding development of a dramatically different type of nuclear reactor in pursuit of the "miracle," that we are in desperate need of: zero carbon emissions globally by 2050.  You can click the video below to watch the the talk "Innovating to Zero!" or click the link to watch one of the versions that has been translated into 38 languages.

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