The EU Catalyst Partnership has issued a request for applications for cutting edge green technology projects

Breakthrough Energy Catalyst published a request for proposals for large-scale deep green tech projects based in Europe. The request will trigger investments in a portfolio of high-potential projects in the areas of clean hydrogen, sustainable aviation fuels, direct air capture, and long-duration energy storage

FREMONT, CA: It is the first milestone of the EU-Catalyst partnership, which was launched in November 2021 at COP26 in Glasgow by European Commission President Ursula von der Leyen, Bill Gates, the Founder of Breakthrough Energy, and European Investment Bank President Werner Hoyer. Between 2022 and 2026, the Partnership would raise USD1 billion to help speed the deployment and commercialization of new technologies that are likely to help Europe meet its climate targets by 2030 and achieve carbon neutrality by 2050.

The authorities aim to take a bold step forward in attaining our climate targets with the EU-Catalyst collaboration along with a worldwide technological revolution, massive investments, more financial risk-taking, and game-changing breakthroughs, as well as regulations that encourage global public-private collaborations.

Horizon Europe and the Innovation Fund, both managed by InvestEU, provide funds for the EU-Catalyst Partnership. Three euros of private money are projected to be leveraged for every euro of state funds. The EU-Catalyst Partnership programme complements the numerous efforts which are already underway under the European Green Deal (EGD) and the National Recovery and Resilience Plans (RRP) funded by NextGenerationEU.

The European Commission, the European Investment Bank, and Breakthrough Energy Catalyst are all part of the EU-Catalyst cooperation. It was first announced during the Mission Innovation Ministerial Conference in June 2021 by Commission President Ursula von der Leyen. The partnership would then aid in achieving the European Green Deal's goals as well as the EU's 2030 climate goal.

The alliance will bring public and private sector partners together to invest in large-scale demonstration projects. In the initiatives, the European Investment Bank and Breakthrough Energy Catalyst are poised to give equal amounts of grants and loans. Breakthrough Energy Catalyst will mobilize partners to invest in initiatives and/or purchase the ensuing green products by leveraging similar private resources and charity assets. Through InvestEU or at the project level, the EU-Catalyst cooperation would be open to national investments by the EU Member States, as well as Norway and Iceland.