Microsoft chairman Bill Gates is investing money into EcoMotors, an engine development company that is in the process of designing a new age of efficient engine.
The company announced on Tuesday that it will be receiving a $32.5 million investment, led by Braemar Energy Ventures. Gates and Khosla Ventures are also in on the investment, although exactly who put in what dollar amount has not been revealed.
EcoMotors builds opposed-piston-opposed-cylinder engines, which provide a very efficient use of gasoline, or diesel. Gates believes that this could be a large breakthrough in engine design. He invests in companies like this because Gates wants to help “create affordable energy that lessens the impact of climate change.” The company claims that its engine provide a 50% reduction in both fuel consumption and greenhouse gas emissions.
Green technology needs investment to succeed, and it is good to see Bill Gates helping the cause.
Watch the video below to see the companies chief technology officer explain the engine.
Get the Flash Player to see this player.