Bill Gates has pledged to infuse $1.5 billion into a joint venture with the Department of Energy to boost the development of clean energy technologies. The investment will be made through the Breakthrough Energy climate investment fund. The funding will follow the passage of the $1.2 trillion infrastructure bill which is yet to be passed by the US government. The investment is expected to create immediate and long-term jobs in communities across the country. It will also take the country forward on the path to net zero emissions.
Breakthrough Energy’s Catalyst project would invest the amount over a period of three years. The investment will span across segments such as sustainable aviation fuel, green hydrogen, long duration energy storage and direct air capture of carbon dioxide. The funding will be utilised to boost emerging technologies and bring them to the market through the deployment of public-private partnerships. Breakthrough Energy was established in 2015 by Bill Gates and a coalition of private investors. It is a network of entities and initiatives, including investment funds, nonprofit and philanthropic programs, and policy efforts linked by a common goal of achieving net zero emissions by 2050. Breakthrough Energy encourages the development of net-zero energy technologies and helps bring them from the lab to the market.
