Bill Gates and the U.K. Prime Minister launched a $550 million investment in green technology
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Billionaire Bill Gates and U.K. Prime Minister Boris Johnson announced a $552 million partnership Tuesday aimed at bringing green technologies in the U.K. to market. Breakthrough Energy Catalyst, an arm of Gates’ climate investment firm, will invest $276 million over the next ten years in green hydrogen, long-term energy storage, sustainable aviation fuels and direct air capture of carbon dioxide technologies. The investment matches a pledge already made by the U.K. government with the goal of commercializing these technologies and bringing the U.K. to net-zero emissions by 2050.
“Our partnership with the United Kingdom will accelerate the deployment of critical climate solutions, helping to make them more affordable and accessible,” Gates said in a statement."In order to achieve net-zero emissions, we need to reduce the costs of clean technologies so they can compete with and replace the high-emitting products we use today.”
The announcement was made at the Global Investment Summit in London, which aims to promote the U.K. as a destination for big investors.regarding which specific companies or projects the funds will go toward or how the recipients of the funding will be determined.
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