EU joins Gates in $1bn clean technology accelerator
Focus on speeding up commercialisation of direct air capture, clean hydrogen, sustainable aviation fuel and long-range storage
The EU has joined a project led by US businessman and philanthropist Bill Gates aimed at accelerating the commercialisation of nascent clean technologies including direct air capture and clean hydrogen by driving $1bn of investment in pilot projects within the EU over the next four years. The European Commission and European Investment Bank signed a memorandum of understanding to join Gates’ Breakthrough Energy Catapult (BEC) initiative during the Cop26 climate talks. BEC, which is already operational in the US, is focused on four technologies identified by Gates and a group of high-profile investors including Amazon, Softbank and Carlyle group. The four are clean hydrogen, direct air captur
Also in this section
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub
23 October 2024
Next government faces the difficult task of balancing decarbonisation ambitions with energy security realities