EU-Catalyst Partnership

The EU-Catalyst Partnership between the European Commission, European Investment Bank (EIB) and Breakthrough Energy Catalyst, a manager of private and philanthropic funds plans to mobilise up to €840 million ($1 billion) between 2023 - 2026 to accelerate the deployment of and rapidly commercialise innovative technologies that will help deliver on the European Green Deal ambitions and the EU's 2030 climate targets. Investments will be directed towards a portfolio of EU-based projects with high potential, in the following sectors: clean hydrogen, sustainable aviation fuels, direct air capture, long-duration energy storage and industry (steel and cement decarbonisation). It awarded its first projects (for hydrogen-based fuels and long-duration energy storage) in 2023. Through early co-operation to provide complementary public grants and private finance (grants, debt or equity), the partners can reduce overall financial risks and speed up project development.

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