Expanding our Partnership with Mission InnovationIncreasing Public-Private Collaboration and Maximizing Climate Investments
To reach net-zero emissions by 2050 and solve the climate crisis, public and private sector collaboration is critical. Close public-private partnerships can unlock the significant clean energy investments we need now and maximize their global impact in years, versus decades.
Since 2015, Breakthrough Energy has worked closely with Mission Innovation (MI), a global initiative of 22 countries and the European Commission, to bring public and private leaders together to increase funding in research, development, and demonstration of climate solutions. BE and MI’s shared goal is to make clean energy affordable, attractive, and accessible for all.
Now, we're expanding our partnership to do more.
Through the BE Catalyst program launched in September, BE is harnessing investments from private sector partners to drive down the Green Premium for climate technologies and accelerate market adoption. In partnership with MI's public sector members, we can move faster to reach tipping points in the cost and scale of these critical clean energy solutions.
Under our expanded partnership, BE and MI will work together to identify project funding opportunities to develop new technologies around the world with a focus on middle- and low-income countries, maximize the impact of investments, and strengthen the clean energy innovation ecosystem through expanded collaboration with governments across North and South America, Europe, Asia, Africa, and the Middle East.
Specifically, our expanded partnership will focus on:
- Identifying high-impact projects globally that need support from the public and private sectors, with a focus on financing promising new technologies and early commercial demonstration projects that are often unable to access funding from traditional investors given their current lower return profiles, technology risk, and limited market demand.
- Overcoming commercialization barriers for critical climate technologies, starting with green hydrogen, sustainable aviation fuel, direct air capture, and long duration energy storage.
- Disseminating lessons learned on innovation and finance programs and policies that can help countries around the world develop, demonstrate, and deploy low-carbon solutions.
- Promoting new ways to measure the impact of innovation investments and track technology frontiers, including those laid out in BE's Emerging Climate Technology Framework and MI's Insights Module.
In October, the International Energy Agency underscored the need for public-private collaboration in its annual World Energy Outlook, which shows that public financing is critical in unlocking private investments. This report underscores exactly why BE is thrilled to deepen our partnership with MI to build on the momentum started six years ago bringing the public and private sectors together for climate.