HSBC invests $100m in Breakthrough Energy Catalyst to accelerate green technologies

Catalyst, founded by Bill Gates, is an initiative that leverages private-public capital to accelerate the development of clean technologies that will help achieve net-zero emissions by 2050.

Catalyst is an initiative within the larger Breakthrough Energy network which supports decarbonisation of high-carbon sectors via climate critical technologies including direct air capture, clean hydrogen, long-duration energy storage, and sustainable aviation fuel.

These technologies will play a crucial role in accelerating the progress towards a net zero future, particularly for power generation, transport, and heavy industry sectors.

Catalyst brings together businesses, governments, philanthropists, and individuals to invest in the clean technologies that are needed to eliminate emissions. The programme funds actual projects, not companies, focusing on what it will take to drive down costs and rapidly grow the adoption of climate-smart technologies.

Catalyst also focuses on bringing down the cost of production for products, such as clean hydrogen and sustainable aviation fuel, thereby reducing the ‘Green Premium’ on these products and making them more accessible.

HSBC’s $100 million investment will accelerate the global net zero pathway and supports HSBC’s goal of achieving net-zero climate impact by 2050.

HSBC also plan to join the leadership council for Breakthrough Energy Catalyst, providing an expert view on the transition opportunities in some of its biggest markets, notably in Asia and the Middle East.

Bill Gates, Founder, Breakthrough Energy said: “To reach net zero, we need to reduce the cost of clean technologies so they can be deployed at scale and become more affordable and accessible for all. The only way to achieve this is through deep collaboration across public and private sectors – no country, company, or individual can halt the progress of climate change alone.”

Jonah Goldman, Managing Director, Breakthrough Energy Catalyst, said: “By joining Catalyst, HSBC and our other partners are demonstrating they are taking real action and willing to make meaningful investments in climate critical technologies. These organisations are truly leading the way and the investments they are making will have a positive impact on global emissions for decades to come.”