Breakthrough Energy

Grid month continues! This morning, the Department of Energy (DOE) issued a final rule to establish the Coordinated Interagency Transmission Authorizations and Permits (CITAP) Program. This program implements Section 216(h) of the Federal Power Act, which authorizes DOE to serve as the lead agency for coordinating Federal authorizations and environmental reviews for transmission lines rated 230kV or above (with a few notable exceptions). This process builds upon a May 2023 Memorandum of Understanding signed by nine federal agencies. Consistent with the Fiscal Responsibility Act, DOE will establish 2-year timelines for all environmental (NEPA) reviews. The agency will also implement a developer-driven, pre-application process requiring submittal of a public engagement plan, which describes anticipated consultation with Tribes, local communities, and other stakeholders. ALSO: DOE announced a new commitment under the Transmission Facilitation Program (TFP), a $2.5 billion revolving fund program established by the Bipartisan Infrastructure Law. Among other things, the TFP allows the agency to purchase up to 50% of the planned capacity of eligible transmission projects. DOE is allocating $331 million for LS Power’s Southwest Intertie Project (SWIP-N), a 285-mile, 500 kV transmission line that will run between Nevada and Idaho. https://lnkd.in/dBnVFd-d

Yesterday the U.S. Department of the Treasury unveiled final tax credit transferability regulations, marking a significant milestone for the clean energy sector. These regulations promise to catalyze project financing, enabling startups and innovators to access the capital they need to scale. Traditionally, tax credits have been a daunting task, but with transferability companies can access billions of dollars in investments with greater ease and flexibility. https://lnkd.in/dCQUsHFs

The 60th annual Munich Security Conference, held earlier this year in late February, marked the first anniversary of the Energy Resilience Leadership Group (ERLG), an initiative launched by Breakthrough Energy and Siemens Energy. We gathered to review the progress made over the past year, with eight projects already underway – all one-of-a-kind collaborations between big corporate players and startups at the clean tech frontier. Key highlights of the event included the presence of prominent leaders such as Jonas Gahr Støre, Alexander De Croo, Robert Habeck, Dr. Sultan Al Jaber (COP28 President), Maroš Šefčovič, and Kadri Simson. Since then, ERLG has announced major partnerships and projects: - EDP and BEV company Rondo Energy have forged a partnership aimed at decarbonizing industrial heat production across Europe. - TURN2X introduced its first commercial plant in Spain and joined forces with ERLG to bolster Europe’s energy resilience with renewable natural gas.

In the second installment of our critical raw materials series, we explore supply-side innovations that secure minerals without exacerbating emissions. Read more here: https://nt-z.ro/4dfJMNa

I recently visited Antora Energy and got a firsthand look at their groundbreaking thermal battery technology. We were grateful to have the chance to join with Decarbonization Partners, a joint venture between BlackRock and Temasek, on Antora’s recent $150 million investment round. Currently ramping up production of their U.S. factory-made thermal batteries, Antora is set to revolutionize industrial energy and we're proud to be part of their journey!

Man-made materials now surpass biomass. The urgency to decarbonize the manufacturing industry has never been clearer. Breakthrough Energy sees a pathway to addressing this challenge by eliminating process emissions and utilizing clean energy. Our newsroom explains more: https://nt-z.ro/44dUkrO

3 companies from within our portfolio funds have won BloombergNEF’s annual Pioneers competition for the most promising climate tech! 🚀 🏠 Aeroseal, who we invested in via 2150 and Breakthrough Energy , improves the energy efficiency of homes by reducing leaks with its innovative sealing technology. 🌡 Kelvin , who we invest in via 2150, transforms radiators into smart, efficient heating systems. 📊 NatureMetrics, who we invested in via 2150, provides nature reports and indicators of biodiversity health delivered through its Nature Intelligence Platform. We’re proud to help enable these companies to scale up its technologies together with our investors. #impactinvesting #bloomberg #investing

Sila Services, a top national HVAC and electrical services platform, partnered with BEV portfolio company Conduit Tech to bring innovation to its sales and installation suite. By harnessing LiDAR and 3D modeling, Conduit Tech helps Silva Services’ HVAC advisors design efficient systems with better accuracy. Read more: https://nt-z.ro/44hY77z

Pioneering low-temperature iron production with renewable energy, our client Electra is making significant strides towards sustainability. Backed by investors like Bill Gates’ Breakthrough Energy ventures, Electra launched its pilot plant in Boulder, Colorado. This achievement marks a major milestone in the quest for cleaner, steel production with a minimal carbon footprint. https://lnkd.in/g5983s_P

BEV portfolio company Rondo Energy is revolutionizing energy storage with bricks that can store as much as a Tesla Model X. These bricks could help industrial plants shift away from fossil fuels — stacking these bricks creates a low-tech, low-cost solution. NBC Bay Area’s Kari Hall talks to Rondo Energy’s CEO John O'Donnell: https://nt-z.ro/3UfVqi6