President Obama and Bill Gates Announce Investments in Clean Energy Research

The United States and 19 other countries on Monday promised to work toward doubling their spending over five years to support "clean energy" research.

At the same time, 28 private investors, including Microsoft's Bill Gates, Facebook's Mark Zuckerberg and Amazon's Jeff Bezos, pledged their own money to help build private businesses based on that public research.

The 20 governments and the investors are calling their joint effort "Mission Innovation." They say they must act together because "the pace of innovation and the scale of transformation and dissemination remain significantly short of what is needed."

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