Bill Gates raised more than $US1 billion ($1.4 billion) in corporate funding for Breakthrough Energy Catalyst, drawing on BlackRock Inc‘s Larry Fink and Microsoft Corp’s Satya Nadella to rally support for some of the world’s most demanding clean-energy projects.
BlackRock is making a five-year, $US100 million grant from its charitable foundation. Microsoft and the other backers – General Motors, Bank of America, American Airlines, Boston Consulting Group and ArcelorMittal SA – are providing a mix of equity capital and so-called offtakes, or purchase agreements tied to the projects.
