Gates cited the agency as a key in solving pressing energy issues, referencing his faith in ARPA-E as demonstrated through his involvement in the $1 billion investment funding created in 2016 through Breakthrough Energy Ventures (BEV).
BEV was developed as an initiative to provide affordable, clean energy to people across the globe. In order to make that energy future possible, Gates and his partners at BEV knew they would have to depend on public, government funded research.
Since its establishment in 2009 under then U.S. Secretary of Energy Steven Chu, ARPA-E has acted as an arm of the U.S. Department of Energy that can help deliver the highly innovative technology that ventures like BEV depend on. From the agency’s REFUEL program, which promotes the development of carbon-neutral fuels to BEEST, funding research in energy storage for transportation, ARPA-E funds high-risk, high-reward endeavors capable of transforming energy landscapes.