The EU-Catalyst partnership brings together the European Commission, the European Investment Bank and Breakthrough Energy Catalyst. Commission President Ursula von der Leyen and Bill Gates, founder of Breakthrough Energy, first announced it at the Mission Innovation Ministerial ConferenceSearch for available translations of the preceding linkEN••• in June 2021. The partnership will help deliver on the European Green DealSearch for available translations of the preceding linkEN••• ambitions and the EU's 2030 climate target.

The partnership will bring together the public and private sectors to invest in large-scale demonstration projects. Both the European Investment Bank and Breakthrough Energy Catalyst will provide equivalent amounts of grants and loans in the projects. Breakthrough Energy Catalyst will leverage equivalent private capital and philanthropic funds and mobilise partners to invest in projects and/or purchase the resulting green products. The EU-Catalyst partnership will be open to national investments by EU Member States as well as possibly Norway and Iceland[1] through InvestEU or at project level.