There's good news in this: more energy means better lives and stronger economies.

But it also means the world needs a new energy supply—one that doesn't contribute to climate change. Climate change is a serious threat, especially in the poorest parts of the world.

Bill Gates (and other wealthy friends) announced the launch of Breakthrough Energy Ventures (BEV), a fund that will invest more than $1 billion in scientific breakthroughs that have the potential to deliver cheap and reliable clean energy to the world.

It's the next step in an effort that began last December, when we brought together private investors from around the globe who were passionate about solving this problem. We formed the Breakthrough Energy Coalition, a group of entrepreneurs, business leaders, and institutional investors committed to help bring promising new zero-emissions energy technologies to market.