Breakthrough Energy Ventures, Lowercarbon Capital

company 2 Deals 1 Partner

Breakthrough Energy Ventures (BEV) is a Seattle-based climate-focused venture capital fund, part of the broader Breakthrough Energy initiative founded by Bill Gates. With over $5 billion in capital under management, BEV invests in early-stage, deep-tech companies globally that are developing innovative solutions across electricity, manufacturing, agriculture, transport, and buildings to achieve net-zero emissions. Lowercarbon Capital is another prominent venture capital firm with a similar focus on climate technology investments.

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Founded 2015 Parent: Breakthrough Energy

Investment FundInvestor

Strategic Overview

Focuses on 'hard-to-decarbonize' sectors including heavy industry, long-haul transport, and agriculture.
Employs a patient capital approach, investing in deep-tech innovations with long development cycles.
Leverages a network of scientific and business experts to support portfolio companies.
Aims for significant, gigaton-scale emissions reduction impact through its investments.
Actively seeks scientific breakthroughs that can achieve substantial cost reductions for clean technologies.

Deal History (2)

Dioxycle raises $37M from Lowercarbon Capital and Breakthrough Energy Ventures

Investor Industrial France Mar 6, 2026 USD37M

Dioxycle secures $2.5 million in Seed funding for its CO2 utilization platform

Developer Carbon Capture, Utilization, And Storage (CCUS), Green Chemicals Canada Oct 1, 2021 USD2.5M

Deal Activity from Public Sources

Breakthrough Energy Ventures participated in Fervo Energy's $244M Series C funding round to accelerate geothermal deployment.

Financing Geothermal USA July 2023 with Fervo Energy

Breakthrough Energy Ventures led a $12M Series A funding round for Rumin8 to tackle livestock methane emissions.

Financing Agriculture Australia February 2023 with Rumin8

Breakthrough Energy Ventures participated in Twelve's $130M Series B funding round to transform CO2 into everyday products.

Financing Carbon Capture, Industrial Decarbonization USA June 2022 with Twelve

Breakthrough Energy Ventures participated in CarbonCapture Inc.'s $80M Series A funding round to accelerate direct air capture deployment.

Financing Carbon Capture USA May 2022 with CarbonCapture Inc.

Investment Focus

Technologies

Industrial1

Carbon Capture, Utilization, And Storage (CCUS)1

Green Chemicals1

Geography

France1

Canada1

Key People

Bill Gates

Founder & Chairman, Breakthrough Energy

Carmichael Roberts

Co-Lead, Breakthrough Energy Ventures

Eric Toone

Co-Lead, Breakthrough Energy Ventures

Track Record

100

Deals Completed

Years Active

Notable projects: Commonwealth Fusion Systems, Form Energy, Lilac Solutions, Twelve, CarbonCapture Inc., Fervo Energy

Detailed Analysis

Sectors

Energy TransitionUtilitiesTransportAgriculture

Technologies

Carbon CaptureGreen HydrogenBattery StorageAdvanced NuclearGeothermalSustainable Aviation FuelBiofuelsSolar PVWind PowerIndustrial Decarbonization

Geographies

North AmericaWestern EuropeAustralia/NZAsia Pacific

Deal Stage

Greenfield

Portfolio Companies

Commonwealth Fusion Systems — Energy TransitionForm Energy — Battery StorageLilac Solutions — Energy TransitionRumin8 — AgricultureTwelve — Carbon CaptureCarbonCapture Inc. — Carbon CaptureHeliogen — Solar PVFervo Energy — Geothermal

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