Alongside the EU, Bill Gates looks to use The Commission and Breakthrough Energy Catalyst in order to move new investments of up to 820million dollars between next year and 2026.
A new “pioneering” partnership has been announced between the European Commission and Breakthrough Energy Catalyst, backed by Bill Gates, to boost investments in clean technologies for low carbon industries. The Impact: This is a huge step forward in our fight against climate change.
The Clean Technologies Initiative aims at boosting investments across the globe for research and development of cleaner ways to produce power than by burning fossil fuels like coal or gas.
The partnership was just announced is said to greatly help incentivize investment in clean energy technology as well as other things relating to climate change; such as innovation of green construction materials or innovations providing alternatives with renewable resources.
A report published recently found that there are currently more than 800 different types of renewable energies available on Earth right now, with only five percent actually making it into the production line, because funding disparities are often found Roget in the way, making investing too risky for some.
The European Commission has set out a plan to create large-scale, commercial demonstration projects for clean technologies such as hydrogen and electric mobility. The aim is not only to lower the cost of these new green energy sources but also accelerate their deployment so that they can help deliver significant reductions in carbon emissions within 10 years time. They are mobilizing large-scale, commercial demonstration projects to accelerate the deployment of clean technologies, which should help to lower costs and deliver significant reductions in carbon emissions.
The partnership intends to invest in high-impact EU-based projects initially. The first four sectors they plan on investing are green hydrogen, sustainable aviation fuels, direct air capture and long duration energy storage alongside green hydrogen and sustainable aviation fuels as potential projects.
The conjoined project will focus on technologies with a recognised potential to reduce greenhouse gas emissions, but that are considered too expensive to use in bulk, and compete with fossil fuel current technologies.