A partnership between the company, government agency Enterprise Singapore, and state investment firm Temasek was announced in April. This partnership involves a memorandum of understanding (MOU) to identify and support budding climate technology in Southeast Asia. The MOU was unveiled at Ecosperity Week 2024 and includes a joint funding commitment over the next three years.
As part of this collaboration, the Breakthrough Energy Fellows program will establish a hub in Singapore, marking its first regional hub outside of the United States. The program aims to co-fund and nurture deep-tech climate start-ups focusing on renewable energy and reducing carbon footprints. This initiative is designed to assist the region in achieving its net-zero target by 2050.
Start-ups participating in the program will receive an initial seed funding of US$500,000 and gain access to a global network of industry partners, mentors, experts, and investors. Enterprise Singapore chairman Lee Chuan Teck stated that Breakthrough Energy is looking at various game-changing technologies to combat global warming, such as new materials, energy sources like hydrogen, and carbon capture methods.
Describing the partnership as a “win-win proposition,” Mr. Lee expressed Enterprise Singapore’s desire to collaborate with more partners to address other global challenges like food security, waste treatment, and healthcare. Ashley Grosh, vice-president of Breakthrough Energy Fellows, highlighted the technical talent at National University of Singapore and Nanyang Technological University, expressing the hope of fostering an entrepreneurial spirit among researchers in the region.
Ms. Grosh noted that Singapore’s strategic location enables Breakthrough Energy to engage with markets and corporate partners effectively. This collaboration aims to drive innovation, support climate technology start-ups, and contribute to the region’s sustainability goals.