Gates fund targets $15bn for climate tech

Breakthrough Energy Catalyst (BEC) is looking to mobilise up to $15bn in clean tech ventures in the UK, US and EU.

The Bill Gates-backed fund hopes to achieve the investment through partnerships, with funding split into three types: charitable donations, submarket equity investments and product off-take contracts, all of which will be used to support emerging technologies.

BEC will particularly seek to help develop technologies for clean hydrogen, direct air capture of carbon, sustainable aviation fuel and long duration energy storage.

BEC recently launched a Request for Proposals (RFP) to support climate technology projects located in the EU, Iceland, and Norway as one part of the project with a target to mobilise up $1bn between 2022 and 2027 and a similar RFP to fund climate technology projects in the US was launched at the end of 2021.

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