Breakthrough Energy was founded in 2015 by the tech tycoon to make donations to those entrepreneurs who work in clean energy. The $15 billion fund will target four core areas: direct air capture, green hydrogen, aviation fuel and energy storage technologies.
“Catalyst will make specific investments in clean technology projects to significantly reduce the price of new clean products, increase their availability in the market and demonstrate how to finance decarbonization infrastructure at scale”, explains the official page of the Breakthrough Energy site.
“We believe that startups are at a critical moment and this capital can turn them into viable commercial products much more quickly”, they add on the page.
The announcement of this investment was made last week by the managing director of Breakthrough Energy Catalyst, Jonah Goldman, who told the Financial Times that the fund would mobilize up to 15 billion or “ten times the initial investment, through the use of innovative financial structures and association agreements”.
Pachama, the Argentine startup chosen by the Bill Gates fund
Among the startups that work to have a cleaner environment is Pachama, founded by Tucuman Diego Sáez-Gil in 2018. The company is basically dedicated to selling carbon credits to companies, so that they offset their carbon footprint.
It measures how much carbon companies emit and the environmental impact they produce, and then, according to this, the industries have to buy “carbon bonds” from Pachama. The Argentine startup is then in charge of planting trees to reforest various forests located in different parts of the world where it develops its projects. Each carbon credit is equivalent to the life of a tree that captures an average ton of CO2, and can cost between US$10 and US$30.
The Argentine startup, whose name pays homage to Pachamama, uses the latest technologies for its development, among other things, to follow, through satellite images, the development of forests.
The technology “is entirely focused on harnessing data, artificial intelligence and automation to protect ecosystems, restore forests and improve carbon markets. We believe that putting better data in the hands of people who care can create a living and healthy planet.
Source From: Ambito
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