July 21, 2025, Washington, D.C. Breakthrough Energy, the climate investment group founded by Bill Gates, has launched a new $3 billion fund aimed at scaling up industrial climate technologies. The initiative will fund startups and projects focused on carbon capture, green steel, clean cement, and sustainable aviation fuel production.
The new fund, announced today at the International Energy Innovation Forum, expands the Breakthrough Catalyst platform, which initially launched in 2021 with $1.5 billion in commitments.
Targeted Technologies
- Direct Air Capture (DAC): Large-scale carbon removal for industrial use
- Green Steel: Hydrogen-based steel manufacturing to replace coal
- Clean Cement: Low-emission alternatives to traditional clinker
- SAF: Bio-based sustainable aviation fuels with lifecycle emissions cuts
Projects funded will receive not just capital, but also support for policy alignment, permitting, and market access through public-private partnerships.
Backing and Collaboration
Breakthrough Energy is partnering with major institutional investors, including BlackRock, Temasek, and Brookfield Renewable. Government co-funding will come from the EU Innovation Fund, Canada’s Net Zero Accelerator, and the U.S. Department of Energy’s LPO.
“We need to take big bets on technologies that can drive down industrial emissions,” said Gates during the announcement. “This fund is designed to get proven lab-scale innovations into real factories and systems.”
Impact Goals
The fund aims to support at least 50 industrial-scale demonstration plants by 2030. The initiative targets emission reductions in sectors that are traditionally hard to decarbonize, including construction, aviation, and heavy manufacturing.
Expected impact includes up to 200 million metric tons of CO₂ avoided annually by 2035 if all funded projects scale successfully.
Conclusion
As climate tech enters a new phase of scale-up, Breakthrough Energy’s latest $3 billion fund provides a major boost for technologies that need help reaching commercial viability. Backed by major partners and designed for global reach, it’s a strategic push toward real-world climate solutions.
Sources: Breakthrough Energy, U.S. DOE, Reuters Climate
