New partnership between the European Commission and Breakthrough Energy will support investments in clean technologies


On 1 June 2021 the European Commission and Breakthrough Energy Catalyst agreed on a new partnership to support investments in the critical climate technologies delivering significant reductions in CO2 emissions in line with the Paris Agreement and European Green Deal. The new partnership should bring for the period 2022−2026 investments of up to €820 million to build large-scale, commercial demonstration projects for clean technologies. Those technologies are currently too expensive to get to scale and compete with fossil fuel-based incumbent technologies. Those investments will help lower the costs of these critical technologies, accelerating their take-up and use, and in this way to help to turn the European Industries to sustainable. The investments will focus on four main areas: Green hydrogen; Sustainable aviation fuels; Direct air capture, Long-duration energy storage. EU funding for the partnership is envisaged from Horizon Europe, the Innovation Fund within the framework of InvestEU, eventually from national investments by EU Member States through InvestEU or at project level. The Breakthrough Energy Catalyst Programme would bring equivalent private capital and philanthropic funds.

More information in European Commission press release.