Thursday, Apr 25 2024 | Time 23:12 Hrs(IST)
image
Business EconomyPosted at: Sep 20 2021 9:39PM


ArcelorMittal joins Breakthrough Energy’s Catalyst program, commits US$100 million

New Delhi, Sep 20 (UNI) Steel and mining major ArcelorMittal on Monday said that it has become an anchor partner in Breakthrough Energy’s Catalyst program, committing to an equity investment of $100 million over the next five years.
ArcelorMittal’s investment will be made through its XCarb innovation fund which was launched earlier this year.
"The company anticipates investing up to $100 million annually through the fund in companies developing technologies with the potential to support and accelerate the transition to zero-carbon emissions steel-making," the steel giant said in a statement.
Founded by Bill Gates, Breakthrough Energy is committed to scaling the technologies the world needs to reach net-zero emissions by 2050.
Breakthrough Energy’s efforts include investment vehicles, philanthropic programs, policy advocacy, and other initiatives, including Catalyst.
Catalyst, launched earlier this year, is a new model for how companies, governments, and private philanthropy can finance, produce, and ensure widespread adoption of next-generation clean technologies.
“The Catalyst program is innovative and necessary. It brings together public and private finance with the objective of fast-tracking the deployment of projects which can deliver significant carbon reduction. For ArcelorMittal and the steel industry this kind of initiative is critically important," said Aditya Mittal, CEO, ArcelorMittal.
Bill Gates, Founder, Breakthrough Energy noted, “Avoiding a climate disaster will require a new industrial revolution. We need to make the technologies and products that don’t cause emissions as cheap as those that do, so the whole world can afford them and reach our climate goals."
UNI NK
Please log in to get detailed story.
Tags: #ArcelorMittal joins Breakthrough Energy’s Catalyst program# commits US$100 million
More News

Arun Alagappan appointed as Executive Chairman of Coromandel International

25 Apr 2024 | 7:41 PM

Hyderabad, April 25 (UNI) Arun Alagappan has been appointed as Executive Chairman of Coromandel International Limited (CIL).

see more..

Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share

25 Apr 2024 | 7:28 PM

New Delhi, April 25 (UNI) Mahindra Group company Tech Mahindra, a technology consulting and digital solutions provider, on Thursday reported about 41 per cent decline in net profit at Rs 661 crore year-on-year basis for the fourth quarter ended March 31, 2024.

see more..

Kottayam-Kochi Rubber Market Rates

25 Apr 2024 | 7:26 PM

Kottayam, April 25 (UNI) Following were the Rubber Market rates announced by the Rubber Board here today per quintal.

see more..
Indusind Bank net up 15 pc in Q4

Indusind Bank net up 15 pc in Q4

25 Apr 2024 | 7:10 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported a 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023–24, compared to Rs 2,043 crore in the same quarter in 2022–23.

see more..

25 Apr 2024 | 6:53 PM

New Delhi, April 25 (UNI) Leading private bank Indusind on Thursday reported 15 percent jump in net profit at Rs 2,349 crore in Q4 of FY 2023-24 compared to Rs 2,043 crore in the same quarter in 2022-23.

see more..
image