HomeCarbon NewsBill Gates Raises $1B to Develop Clean Energy

Bill Gates Raises $1B to Develop Clean Energy

Breakthrough Energy, a non-profit organization created by Bill Gates, announced raising nearly $1 billion for its Breakthrough Energy Catalyst Project.

The focus will be to develop clean energy technologies.

Investors include American Airlines, Bank of America, General Motors, BlackRock, Boston Consulting Group, ArcelorMittal, and Microsoft.

“Preventing a climate disaster will require a new industrial revolution. Half of the technology needed to reach zero emissions either does not exist yet or is too expensive for much of the world to pay for it. Catalyst is designed to change that and provide an effective way to invest in our cleantech future.”

Gates believes public and private partnerships are what the world needs to be able to combat climate change. Only then is a net-zero future possible. Additional partners include the European Commission, the European Investment Bank, and the US Department of Energy.

According to Gates, he created Breakthrough Energy to have “…a global view of the energy innovation landscape: key technologies, leading-edge companies, critical financial and policy partners, and financing projects that have the greatest benefits for our planet.”

Breakthrough Energy is focused on producing and acquiring new climate-smart technologies that will create a zero-carbon economy by 2050. Projects include direct air capture, green hydrogen, long-life energy storage, and sustainable aviation fuel.

Leaders worldwide have recommitted to meeting net-zero emissions, and as the earth continues to warm, they really have no choice but to.

For every temperature the globe increases, life within it becomes unsustainable. Resources become limited, mass migration takes place, and weather patterns become more extreme. All people will be affected in one way or another. Most already are. The time to act is now.

With billions being poured into emerging technologies and the global carbon markets booming, there is hope for a cleaner, cooler future ahead.

Most Popular
LATEST CARBON NEWS

WEF and Indonesia Join Hand to Boost Blue Carbon Credits

The World Economic Forum (WEF) and Indonesia have signed a partnership to ramp up the nation’s blue carbon efforts as well as address the...

T-Mobile Commits to 2040 Net Zero Target

T-Mobile revealed its net zero emissions target across all Scopes - 1, 2, and 3 - with the Science Based Targets initiative’s (SBTi) approval. T-Mobile’s...

BP’s 2023 Outlook for Global Energy Transition: Key Takeaways

BP Energy Outlook 2023 unlocks the key trends and insights surrounding the global energy transition out to 2050.  The 2023 Energy Outlook’s three main scenarios...

Wildfires Cost Over $148B and 30% of Emissions

A new report by Dryad Networks unveiled the hidden costs and impacts of wildfires, its carbon emissions, and how early detection can prevent huge...
CARBON INVESTOR EDUCATION

Abandoned Oil Wells and Carbon Credits

You’ve probably seen dozens of pictures before that look exactly like the one above. An active oil field littered with pumpjacks, all churning out oil...

Is Offsetting Carbon Worth It?

Is offsetting carbon worth it? This question has never been more controversial right now and it deserves a good answer, especially if you're into...

How Does Carbon Capture and Utilization Work?

Carbon capture and utilization technology is not only useful, but a necessary strategy to reduce atmospheric CO2 levels, and stall an increase in global...

Top 4 Carbon Stocks To Watch In 2023

Carbon stocks, credits and capture technology are getting a lot of interest from investors. Companies will attract even more capital in 2023.