£400m partnership to boost green investment

/ Uncategorised / By

Prime Minister and Bill Gates launch £400m partnership to boost green investment

s300_number10
Prime Minister Boris Johnson and Bill Gates announced a new collaboration between Breakthrough Energy Catalyst and the UK Government on the 19th of October (2021) to accelerate investment into the next generation of ground-breaking clean energy technology.
The collaboration, which was announced at the Global Investment Summit, will leverage £200 million in private sector investment in the UK to speed the development of cutting-edge climate solutions required to reach net-zero emissions by 2050.
As part of the £1 billion Net Zero Innovation Portfolio outlined in the Prime Minister's 10 Point Plan for the Green Industrial Revolution, the government has already committed at least £200 million to the development, demonstration, and deployment of UK initiatives in these areas. Investors and organisations that have collaborated with the Breakthrough Energy Catalyst will now match £200 million of that investment, assisting in the commercialization of these critical innovations.
The Prime Minister Boris Johnson Portrait

Prime Minister Boris Johnson said:

We will only achieve our ambitious climate goals if we rapidly scale up new technologies in areas like green hydrogen and sustainable aviation fuels – technologies that seemed impossible just a few years ago.

Ahead of COP26, this new partnership with Catalyst is a boost to the UK’s vision for a green industrial revolution. It will help to bring innovative technologies to market globally, while building new skills and creating high-quality jobs across the UK.

Bill Gates, Founder, Breakthrough Energy, said:

Our partnership with the United Kingdom will accelerate the deployment of these critical climate solutions, helping to make them more affordable and accessible.

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 – I call this difference in price the Green Premium.

Working with public and private sector leaders, including the UK, Catalyst will be a key vehicle for reducing Green Premiums, building the clean industries of tomorrow, and creating lasting jobs in communities around the world.

Bill_Gates_2017_(cropped)

Further information

  • Our Global Investment Summit brings the world’s biggest investors to the UK to showcase the best of British innovation, demonstrate the UK’s commitment to green growth and promote the UK as the best investment destination in the world.
  • Today The Prime Minister will announced that deals worth £9.7bn have been secured at the Global Investment Summit.
  • The Net Zero Innovation Portfolio is a £1 billion fund to accelerate the commercialisation of low-carbon technologies, systems and business models in power, buildings, and industry. More details can be found here.
Original document(opens in new tab)
Scroll to Top