Bill Gates secures hundreds of millions from U.S. firms for climate fight

Breakthrough Energy, a non-profit founded by Gates in 2016, announced Monday that it has secured investments from Microsoft, BlackRock, General Motors, American Airlines, Boston Consulting Group, Bank of America and ArcelorMittal. The Washington-headquartered firm said the money will be used to fund its "Breakthrough Energy Catalyst," a project launched earlier this year that's aiming to […]

Nio and Xpeng deliveries fall in August as chip shortage hits China's electric carmakers

Nio delivered 5,880 vehicles in August, down from 7,931 cars in July with the company blaming "uncertainty and volatility of semiconductor supply" as the global chip shortage continues. Xpeng said it delivered 7,214 vehicles in August, down from 8,040 in July as it transitioned manufacturing at one of its factories. Li Auto meanwhile said in August it delivered 9,433 […]

Generate Capital raises $2 billion for sustainable infrastructure investments

Generate Capital raised $2 billion in its latest funding round amid a boom in clean-energy infrastructure projects. The San Fransisco-based company finances, builds, operates and owns projects linked to sustainability, and currently has more than 2,000 assets in its portfolio. "We have had great success attracting institutional investors because this is a very compelling investment […]

Venice to ban cruise ships after years of protests from locals, environmentalists

Italy banned big cruise ships from sailing into Venice Tuesday after years of rallying cries from residents, culture bodies and environmentalists. In what he called a "historic" day, Italy's culture minister Dario Franceschini said the ban adopted by the Italian cabinet will take effect Aug. 1 and will cover the lagoon basin near St. Mark's Square, Venice's most […]