Gates, Bezos Among Billionaires Backing Alphabet Energy Spinoff

Dec. 19, 2018, 4:24 PM

Alphabet Inc.’s secretive X moonshot laboratory is spinning off an energy-storage project with backing from billionaires including Jeff Bezos and Bill Gates.

Malta Inc., the newly independent company, raised $26 million led by Breakthrough Energy Ventures LLC, a fund that counts Bezos, Masayoshi Son and Ray Dalio among its investors.

Michael Bloomberg is also a Breakthrough investor and Gates is chairman. Bloomberg Environment is operated by entities controlled by Michael Bloomberg.

Other Malta backers include Hong Kong-based Concord New Energy Group Ltd., a wind and solar power developer, and Alfa Laval AB, a Swedish industrial company, X said on Dec. ...

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