Bill Gates to establish €100 million clean energy fund with EU

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Bill Gates to establish €100 million clean energy fund with EU

posted on Oct 22, 2018 02:55PM

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If plans are realized, the private-public investment vehicle will start investing in companies with green-tech innovations. The fund would be used to pursue technologies which could help the decarbonization of the economy but which have not received enough attention.

Bill Gates and the European Commission have announced a Memorandum of Understanding regarding the establishment of Breakthrough Energy Europe (BEE).

The investment fund is directed at propelling European companies working on new clean energy technologies to market maturity. According to a statement made by the European Commission, the €100 million financial vehicle would be used to reduce greenhouse gases in electricity, transport, agriculture, manufacturing and buildings.

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