Private Help: Breakthrough Energy’s Catalyst Program Is Planning to Spend $1.5 Billion over Three Years
by Matthew Choi (Politico’s Morning Energy) PRIVATE HELP: Breakthrough Energy’s Catalyst program is planning to spend $1.5 billion over three years in partnership with the Biden administration to boost clean energy technology. The group, founded by Bill Gates and private investors in 2015, aims to build commercial demonstration projects in sustainable aviation fuel, green hydrogen, direct air capture and long-duration energy storage, as well as spur other investors to contribute an additional $15 billion.
“Avoiding a climate disaster will require a new industrial revolution,” Gates said in a statement. “We need to make the technologies and products that don’t cause emissions as cheap as those that do, reducing what I call Green Premiums, so the whole world can afford them and reach our climate goals.”
But the investment depends on Congress passing the bipartisan infrastructure deal,which includes billions for energy demonstration projects. The infrastructure deal passed the Senate this week and awaits consideration in the House. Kelsey Tamborrino has more on the Breakthrough announcement for Pros. READ MORE
Bill Gates pledges $1.5B clean tech partnership with DOE (E&E News)
Bill Gates pledges $1.5B for climate projects in infrastructure bill (The Hill)
