Alwaleed Philanthropies "Global" Joins Forces to Support the Breakthrough Energy Ventures Project

Alwaleed Philanthropies "Global" supports the Breakthrough Energy Ventures (BEV) initiative, an investor-led fund focused on tackling the urgent challenge of climate change. BEV is committed to advancing innovative energy technologies that deliver affordable, reliable, and clean energy, with the goal of significantly reducing greenhouse gas emissions and driving the global energy transition.

BEV is committed to investing in forward-thinking entrepreneurs and startups that have the potential to reduce at least half a gigaton of annual greenhouse gas emissions. By commercializing breakthrough climate technologies, BEV is laying the groundwork for a cleaner, more sustainable planet.

Headquartered in the United States, BEV operates from 2016 to 2030, providing long-term financial backing and strategic guidance to accelerate scalable climate innovations.

To date, BEV has supported 61 promising startups across five major sectors—ranging from sustainable agriculture to clean transportation. These companies are pioneering new technologies that will shape the future of energy, with BEV providing both capital and expert support to help them scale their solutions globally.

In 2024, BEV shifted its strategy to deepen support for its existing portfolio, maximizing impact and sustainability:

• Strategic Focus: The fund prioritized the growth and long-term stability of existing portfolio companies rather than expanding into new ventures.
• Capital Investment Milestone: Total capital invested reached $924.4 million, spanning 55 companies through BEV-Europe and 7 through BEV I.
• Financial Performance: BEV’s Q3 report showed impressive fund performance:

The value of investments more than doubled, with a total growth of 2.33x and a net growth of 2.05x—a reflection of strong fund management and strategic investment choices.

Breakthrough Energy Ventures remains a leader in driving real, scalable solutions to climate change. With continued support from partners like Alwaleed Philanthropies "Global", BEV is not just funding startups—it's transforming the future of energy. Together, we are building a cleaner, greener world for generations to come.