Reliance Industries to invest up to $50 million in Breakthrough Energy
Reliance Industries Limited (RIL) announced on Thursday that it has entered into a definitive agreement for making capital contribution of up to $50 million in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, the US.
The capital contribution commitment of $50 million constitutes 5.75 per cent of the size of the fund contemplated at present, said the company in a regulatory filing.
The said investment will be made in tranches over the next 8-10 years. BEV seeks to find solutions to the climate crisis by flexibly investing to develop breakthrough energy and agriculture technologies.
