NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The BlackRock Foundation has announced a five-year, $100 million commitment to Breakthrough Energy in support of its Catalyst fund to accelerate the development of clean energy technologies.

The initial focus of the fund is to help accelerate the development and commercialization of four clean energy technologies: direct air capture, green hydrogen, long-duration energy storage, and sustainable aviation fuel. Catalyst will invest in those technologies with the goal of reducing their costs to compete with and replace the greenhouse gas-emitting energy generation technologies currently available — lowering what is referred to as “green premiums” and, ultimately, accelerating their widespread adoption.

Photo courtesy of Science in HD.