identified or hired any investment staff or other professionals. No contracts have been signed and it is not clear how the fund will be structured. Fortune fears that the “grandiose announcement” might just be “all talk”– other than Gates, none of the billionaires who have signed on to the coalition have promised any specific amount of money.
Despite these criticisms, the fact that so many of the world’s most successful businesspeople are willing to sign on may be an indication that funding clean energy R&D is not just a public good, but a smart investment. That’s good news for the clean energy industry, which could benefit from a new infusion of funds from motivated sources.