Breakthrough Energy Catalyst
The Breakthrough Energy ‘Catalyst’ program aims to make targeted investments into clean technology projects to significantly decrease the price of new clean products, increase their availability in the market, and demonstrate how to finance the infrastructure of decarbonization at scale. Catalyst will start by focusing on four critical technologies for decarbonization: direct air capture, green hydrogen, long-duration energy storage, sustainable aviation fuel. The EU-Catalyst partnership from Breakthrough Energy expects to mobilise €840,000,000 in climate investment between 2022 and 2027 targeted toward the European Green Deal and the EU’s 2030 climate target.
Request for proposals of pioneering green technology projects is launched
Subsidy: €10,000,000 expected per project through blended financing solutions (grant + equity investment)
Deadline: 13-05-2022. After this date applications will be evaluated on a rolling basis until the close date, subject to availability of funds (31-12-2027)
Total budget: €840,000,000
Eligibility: For-profit entities and consortia, educational institutions, and non-profits that are incorporated (or otherwise formed) under the laws of a national or sub-national government from the EU Member States, Iceland and Norway.
Funding rate: Not specified
Scope: BEC is a new program to help bridge funding gaps to launch commercial stage demonstration projects by bringing together stakeholders – developers, buyers, and financiers – to increase the availability and scale of low-carbon technologies. In doing so, BEC seeks to reduce the green premium and displace fossil-based technologies in favour of cost-effective, climate-positive alternatives.
BEC will start by focusing on four critical catalytic-stage technologies: clean hydrogen (Clean H2), sustainable aviation fuel (SAF), direct air capture (DAC) and long duration energy storage (LDES). These technologies have already proven their potential at a smaller scale, but the timeline for their commercial development is still too long (predicted by 2027-2030). They are presently at a critical juncture where catalytic capital is able to spur economies of scale and innovation, resulting in technology and production cost declines. This funding will drive innovation and achieve fossil-based cost parity faster, resulting in earlier market adoption for BEC’s target technologies.