Breakthrough Energy Catalyst, a fund backed by Microsoft billionaire Bill Gates, is planning to invest up to $15 billion in clean tech projects.
that the fund ultimately plans to invest 10 times that amount, or $15 billion. BEC did not immediately respond to a CNBC request for comment.
In order to deploy $15 billion, Goldman told the FT that the fund plans to use innovative financial structures and partnership agreements. "We are last-mile financing and so, we will be the most risky capital in there," Goldman said. "We're really trying to demonstrate which of the technological pathways are going to be most effective."
On its website, Breakthrough Energy describes BEC as a "program to demonstrate how we can finance, produce and buy the new solutions that will underpin a low carbon economy." BEC will initially focus on direct air capture, green hydrogen, long-duration energy storage, and sustainable aviation fuel.
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