Gates has sourced funding from multiple high-profile companies and donors.

Back in 2016, Microsoft founder and technological philanthropist Bill Gates founded Breakthrough Energy, a nonprofit dedicated to combating climate change through the research and development of renewable energy supplies. The nonprofit has already made some important strides toward the ultimate goal of avoiding a permanent climate shift, and earlier this year, they launched one of their most ambitious projects: the Breakthrough Energy Catalyst.

The goal of the Breakthrough Energy Catalyst is to finance and produce new and promising ideas for renewable power and climate maintenance. “Half the technology needed to get to zero emissions either doesn’t exist yet or is too expensive for much of the world to afford,” Gates said. “Catalyst is designed to change that and provide an effective way to invest in our clean technology future.”

“By working with this growing community of private and public partners, Catalyst will take a global view of the energy innovation landscape – the key technologies, leading-edge companies, financing partners, and pivotal policies – and fund the projects that will have the greatest positive impact for our planet.”

Bill Gates has raised over $1 billion in corporate funding to support clean-energy technology.

BlackRock, GM, Microsoft and others are among the firms backing the Breakthrough Energy Catalyst initiative https://t.co/9jGthTFqtZ pic.twitter.com/y1Gwfhi40F

— Bloomberg TV (@BloombergTV) September 20, 2021

However, such an endeavor requires a mountain of funding, so much that even Gates’ considerable wealth isn’t enough to fund it on his own. Luckily, Gates has friends in high places. Breakthrough Energy announced today that Gates had successfully solicited funding from several high-profile companies, including BlackRock, General Motors, American Airlines, Boston Consulting Group, Bank of America, and of course, Microsoft. The precise total of funds raised was not disclosed, but they reportedly total well over $1 billion.

With this funding to get them started, the Catalyst will focus its efforts first toward experimental clean energy projects such as direct air capture, green hydrogen, long-duration energy storage, and sustainable aviation fuel.