Breakthrough Energy, a public-private partnership developed by Bill Gates and a coalition of private investors, has announced Builders Vision and HSBC as its latest anchor partners and BMO Financial Group as a scaling partner for its Catalyst initiative, which aims to accelerate the development of clean technologies that help the world achieve net-zero emissions by 2050.

An initiative within the larger Breakthrough Energy network, Catalyst brings together public and private sector groups to advance promising climate technologies—including direct air capture, clean hydrogen, long-duration energy storage, and sustainable aviation fuel—to global commercial scale. Commitments include $100 million from HSBC and $50 million over five years from BMO Financial Group. HSBC will join the initiative’s leadership council and provide insight on the transition opportunities in some of its biggest markets, notably in Asia and the Middle East. BMO also will provide project finance capabilities and energy transition expertise and is the first Canadian company to announce a partnership with the initiative.

“A small number of green technologies will reshape the industrial landscape of the world over the next five to ten years. I am grateful for the opportunity for HSBC to be part of Breakthrough Energy Catalyst to accelerate their development and make them scalable,” said HSBC group chief executive Noel Quinn. “I genuinely believe this groundbreaking partnership can help bring these much-needed clean solutions to market and build a more sustainable world.”

“We are thrilled to welcome these organizations to our growing Breakthrough Energy Catalyst community,” said Breakthrough Energy managing director Jonah Goldman. “The products and industries we hope to scale through Catalyst require a truly global effort. Our new partners help accomplish that with HSBC’s deep knowledge of the Asia Pacific market and BMO’s experience in the North American market. We are also grateful to partner with Builders Vision and its innovative approach to using philanthropic resources to create the market environment for zero carbon solutions to flourish.”

(Photo credit: Getty Images/Liam Matter)