Billionaire eco-entrepreneur Richard Branson funding biofuel
In 2006 Richard Branson pledged to invest profits and dividends from his transport businesses (both airlines and rail) into the development of alternative fuels.
Initially Virgin invested in a number of bio-fuel businesses, but has now broadened the scope of its investment into the renewable energy and resource efficiency sectors through the formation of the Virgin Green Fund (VGF).
VGF has invested in 10 companies ranging from solar energy and water purification to energy efficient lighting.
In addition Virgin has established the Earth Challenge to encourage research into Carbon sequestration technology; and the Carbon War Room to promote and organize global efforts to combat climate change.