Breakthrough Energy, a public-private partnership developed by Bill Gates and a coalition of private investors, has announced a partnership between Catalyst — a program within the larger Breakthrough Energy network — and the United Kingdom to leverage £200 million ($276 million) in private-sector investment to drive clean energy and climate technologies in the UK.

Catalyst brings together investors in four key green technology areas: green hydrogen, long-term energy storage, sustainable aviation fuels, and direct air capture of carbon dioxide. The UK already has committed at least £200 million ($276 million) for the development, demonstration, and deployment of projects in these areas as part of the £1 billion Net Zero Innovation Portfolio, and investors and businesses partnering with Breakthrough Energy Catalyst will match £200 million of that investment. Catalyst will work with the UK to support commercialization of high-impact decarbonization technologies to reduce the cost of green technologies that are too expensive to scale, and introduce them to global markets over the next ten years.

"We will only achieve our ambitious climate goals if we rapidly scale up new technologies in areas like green hydrogen and sustainable aviation fuels – technologies that seemed impossible just a few years ago," said Prime Minister Boris Johnson. "Ahead of COP26, this new partnership with Catalyst is a boost to the UK's vision for a green industrial revolution. It will help to bring innovative technologies to market globally, while building new skills and creating high-quality jobs across the UK."

"Our partnership with the United Kingdom will accelerate the deployment of critical climate solutions, helping to make them more affordable and accessible," said Gates. "In order to achieve net-zero emissions, we need to reduce the costs of clean technologies so they can compete with and replace the high-emitting products we use today — I call this difference in price the Green Premium. Working with public and private sector leaders, including the UK, Catalyst will be a key vehicle for reducing Green Premiums, building the clean industries of tomorrow, and creating lasting jobs in communities around the world."

(Photo credit: Gettyimages / Fudfoto)