EU & Bill Gates join up to support clean tech in Europe: A new “pioneering” alliance has been reported between the European Commission & Breakthrough Energy Catalyst, supported by Bill Gates, to increase investments in clean technologies for low carbon businesses.
They hope to rally new investments of as much as €820 million (£708m) between 2022 & 2026 to set up large-scale, commercial demonstration programmes for clean technologies, helping reduce their costs, increase their deployment and distribute important reductions in carbon emissions.
The partnership plans to invest in highly effective EU-based projects primarily in 4 sectors: green hydrogen, sustainable aviation fuels, direct air capture & long duration energy storage.
Ursula von der Leyen, President of the European Commission stated: “With our European Green Deal, Europe wants to become the first climate neutral continent by 2050. And Europe has also the great opportunity to become the continent of climate innovation.
“For this, the European Commission will mobilise massive investments in new and transforming industries over the next decade. This is why I’m glad to join forces with Breakthrough Energy. Our partnership will support EU businesses and innovators to reap the benefits of emission-reducing technologies and create the jobs of tomorrow.”
The alliance will choose technologies with a identified capability to lower greenhouse gas emissions but which are presently too expensive to get to scale & contend with fossil fuel-based required technologies.
Bill Gates, Founder of Breakthrough Energy stated: “Decarbonising the global economy is the greatest opportunity for innovation the world has ever seen. Europe will play a critical role, having demonstrated an early and consistent commitment to climate and longstanding leadership in science, engineering and technology.
“Through this partnership, Europe will lay solid ground for a net-zero future in which clean technologies are reliable, available and affordable for all.”
EU & Bill Gates join up to support clean tech in Europe