Gates founded the organization in 2015 with a coalition of private investors concerned about the effects of climate change. It is based on a public-private partnership that Gates has also used in his health, education and public welfare efforts around the world.
“We are excited by the opportunity to be the first Canadian company to join Breakthrough Energy Catalyst, whose mandate strongly aligns with BMO’s purpose in business and life, and our commitment to raising capital for a sustainable future.” What was said. BMO Chief Executive Darryl White. “We look forward to applying our extensive project finance and energy transition expertise to the acceleration of critical climate innovation to help the economy and our customers progress in the transition to a net-zero world.”
Breakthrough’s focus includes the accelerated use of green energy sources such as direct air capture, clean hydrogen, long-term energy storage and sustainable aviation fuels.
BMO’s commitment to the group includes its intention to invest $50 million over 5 years and provide expertise from its energy transition group.
“BMO is particularly well suited to this challenge, through the BMO Impact Investment Fund, in companies that are providing sustainability solutions, as well as through the Energy Transition Group we have, through sustainable finance solutions for customers. Jonathan Hackett, BMO’s head of sustainable finance and co-head of its energy transition group, commented.