HSBC becomes partner in breakthrough energy catalyst

HSBC becomes partner in breakthrough energy catalyst

(London) HSBC Holdings plc (“HSBC”) is today announcing it is investing USD100m as an anchor partner in Breakthrough Energy Catalyst, (“Catalyst”), a groundbreaking programme 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 founded by Bill Gates, which is designed to support decarbonisation of high-carbon sectors via investments in four climate critical technologies – direct air capture, clean hydrogen, long-duration energy storage, and sustainable aviation fuel. These technologies will be crucial to the future of areas such as power generation, transport and heavy industry – all of which must be addressed to progress towards net zero.

With estimates that half the technologies that are needed to achieve climate goals either do not exist yet or are too expensive for much of the world to afford1, Catalyst brings together businesses, governments, philanthropists, and individuals to invest in the clean technologies that are needed to eliminate emissions. Catalyst 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