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Breakthrough Energy, Temasek and Enterprise Singapore jointly establish 'Breakthrough Energy Fellows'

Breakthrough Energy, Temasek and Enterprise Singapore jointly establish 'Breakthrough Energy Fellows'

 


Singapore-based program supports innovators in Southeast Asia and accelerates commercialization of deep-tech climate technologies

SINGAPORE, April 15, 2024 /PRNewswire/ — Breakthrough Energy (BE), the climate organization founded by Bill Gates. Temasek is a global investment company headquartered in Singapore. EnterpriseSG, the government agency that supports business growth, today signed a memorandum of understanding to establish Breakthrough Energy Fellows Southeast Asia (“BE Fellows SEA”), committing to co-fund over the next three years. . The program will be led from Singapore, his first BE Fellows hub outside the United States.

(PRNewsfoto/Temasek)

Presented at Ecosperity Week 2024[1], BE Fellows SEA will be the first regional hub in BE's existing distinctive global fellows program. It aims to address early-stage barriers to climate technology innovation in Southeast Asia and accelerate the development of climate technologies that have the potential to significantly reduce greenhouse gases at scale and contribute to global net-zero goals. .

The partnership leverages the pioneering climate technology platform established by Breakthrough Energy, Temasek's thought leadership, expertise and network as a global investor based in Asia, and the development of startups in Singapore and the region. It will leverage Enterprise Singapore's efforts to promote deep tech startups and foster deep tech startups. The complementary combination of strengths and capabilities of our partners will enable the creation of strategic and novel programs that will help address critical innovation gaps in the development of deep-tech climate technologies here in Southeast Asia.

BE Fellows SEA provides funding and support to researchers, scientists, engineers and technology innovators in the region to help advance promising climate solutions to the next stage of development and commercialization. Through this program, each participating fellow's research will receive an initial grant of US$500,000 for further development and technology de-risking. You will also have access to a global network of industry partners, mentors, investors and experts, as well as continued funding from the same program, as you develop, demonstrate and commercialize solutions for a clean energy future. You may also receive an offer. These joint efforts are designed to support technology advancements, commercialization fundamentals, and go-to-market strategies as Fellows scale their solutions for widespread adoption. Across her first three groups of Breakthrough Energy Fellows, the team raised more than $150 million in follow-on funding and created more than 200 full-time jobs. Learn more about technologies and solutions developed by existing Fellows.

Addressing the climate gap, particularly in Southeast Asia, requires a concerted effort by public and private stakeholders to identify viable and investable business opportunities and incentives to unlock decarbonization gains. .In Southeast Asia alone, there is a huge investment gap of $1.5 trillion.[2] Achieving net zero targets will require significant bridges from now to 2030 and even further by 2050. New technologies are needed to reduce costs, and more needs to be done to train talent and develop capacity for climate science and innovation. Joint efforts to fund and invest in research and capacity development can support the development of expertise. Accelerate discovery and increase the number of projects and companies working on climate change technologies. and promote the commercialization of sustainable solutions needed to effectively address the climate crisis. BE Fellows SEA aims to foster and accelerate the development of such technologies.

“Innovators need the right resources and support to address the world's most pressing climate change challenges, which is why we at Breakthrough Energy Fellows,” said Ashley Grosch, Breakthrough Energy Fellow Vice President. We have established the Through Energy Fellows Program and are excited to further our early efforts to tackle climate change.” With its strategic location, thriving ecosystem, and unwavering commitment to sustainability, Singapore is an ideal base to accelerate climate innovation in Southeast Asia and beyond. Given the regional landscape, both companies will be ideal partners for this expansion. Together, we are ready to develop and scale customized solutions to address the urgent clean energy needs needed to achieve net zero. ”

Russell Tam, Head of Emerging Technologies at Temasek, said: “There is an urgent need to close the capability gap in climate change technology innovation in Southeast Asia. I'm glad to be able to come together.” Alongside Enterprise Singapore's extensive global science, investment and innovation ecosystem, developing the first regional hub for the established Global Fellows program here underscores Temasek's focus on global sustainability. Together, they have been and will continue to be powerful. We are confident that this tripartite fellows program can spark a new wave of innovation in Singapore and Southeast Asia, contributing to solving the global climate change problem. ”

Ms Cindy Khoo, Managing Director of Enterprise Singapore, said: “Deep technology innovation has the transformative power to solve the challenges of climate change, but startup founders need to take their technology from the lab to the market. We are committed to providing climate technology innovators with the right support they need to develop and commercialize innovative new solutions faster. We are intentional about this and are excited to partner with Breakthrough Energy and Temasek to anchor Breakthrough Energy Fellows (SEA) in Singapore and further strengthen our strengths in research and venture building. We will develop the foundations and infrastructure in both areas and promote breakthroughs in climate change technology in the region.”

BE Fellows – SEA details and application details will be announced later this year.

[1] Ecosperity Week 2024 is a three-day conference hosted by Temasek that fosters discussion on innovative solutions across technology, nature and finance to accelerate a green and just transition.

[2] Southeast Asia Green Economy 2024 Moving the Needle, Report by Bain & Company, GenZero, Standard Chartered, Temasek

About Breakthrough Energy

Breakthrough Energy is committed to accelerating the world's journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action and accelerate progress every step of the way.

For more information about Breakthrough Energy, please visit www.breakthroughenergy.org. For information specific to Breakthrough Energy's Fellows Program, please visit www.breakthroughenergy.org/our-work/fellows/.

About Temasek

Temasek is a global investment company with a net portfolio value of S$382 billion (US$287 billion, US$264 billion, US$232 billion, RMB1.98 trillion) as of March 31, 2023.

The purpose of “Prosperity for All Generations” aims to make a difference for today and future generations. As an active investor, forward-looking institution and trusted steward, we are committed to delivering long-term, sustainable value.

Headquartered in Singapore, we have 13 offices in nine countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia. Outside Asia, London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City.

For more information about Temasek, please visit www.temasek.com.sg.

About Enterprise Singapore

Enterprise Singapore is a government agency that supports business development. We work with companies that are keen to build capacity, innovate and internationalize.

We also support Singapore's growth as a global trade and start-up hub, and build trust in Singapore's products and services through quality and standards.

For more information, please visit www.enterprisesg.gov.sg.

Source Temasek

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2/ https://www.prnewswire.com/apac/news-releases/breakthrough-energy-temasek-and-enterprise-singapore-jointly-establish-breakthrough-energy-fellows–southeast-asia-a-multi-year-effort-to-accelerate-the-development-of-early-stage-climate-tech-solutions-in-the-region-302116624.html

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