Tatsat Chronicle Magazine

Prime Minister Boris Johnson and Bill Gates have announced a £400 million collaboration to increase green investment

October 22, 2021

Bill Gates’ Breakthrough Energy Catalyst and the UK Government have established a new partnership to encourage investment in the next generation of ground-breaking clean energy technology

The United Kingdom’s government announced Tuesday that it will collaborate with Bill Gates’ Breakthrough Energy Catalyst on a 400 million pound ($549.1 million) effort to promote green technologies across the country. Breakthrough Energy Catalyst and the UK Government have established a new partnership to promote investment into the next generation of ground-breaking clean energy technology. Prime Minister Boris Johnson and Bill Gates announced the alliance. The agreement, 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 technology required to reach net-zero emissions by 2050.

Catalyst is a new paradigm for public-private sector partnership that brings together firms, governments, charities, and individuals to engage in key climate technology. It is part of the larger Breakthrough Energy network. Green hydrogen, long-term energy storage, sustainable aviation fuels, and direct air capture are the four main areas of concentration for the initiative. As part of the £1 billion Net Zero Innovation Portfolio revealed 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 projects in these areas.

Prime Minister Boris Johnson stated, “We will only accomplish our ambitious climate goals if we rapidly scale up breakthrough technology in sectors like green hydrogen and sustainable aviation fuels, which seemed unthinkable just a few years ago.” This new relationship with Catalyst comes ahead of COP26, bolstering the UK’s goal for a green industrial revolution. It will assist in the globalisation of breakthrough technology, as well as the development of new skills and the creation of high-quality jobs across the UK. “Our relationship with the United Kingdom will speed the implementation of these essential climate solutions, helping to make them more affordable and accessible,” said Bill Gates, founder of Breakthrough Energy.