Published on 20 October 2018


Europe and Bill Gates launch a fund to finance "radically new" technologies for energy

The European Union and US billionaire Bill Gates have launched a 100 million euro investment fund to support technological developments in the field of clean energy.

Bill Gates at Davos in 2014

The co-founder of Microsoft, Bill Gates, committed to the fight against climate change and president of Breakthrough Energy Ventures, has signed a Memorandum of Understanding with the European Commission to create Breakthrough Energy Europe (BEE).

It is "a joint investment fund to help innovative European companies to develop and commercialize radically new technologies in the field of clean energy," the EU executive said in a statement. Storage, agriculture, decarbonisation of transport, energy production, heavy industries, are all areas that could benefit from the boost of the new investment fund.

Solve difficult problems

"This investment fund of 100 million euros is the first of its kind, and was born in record time," said Maros Sefcovic, Vice-President of the Commission for the Union of Europe. 'energy. "My background at Microsoft has pushed me to become a support for scientists in solving difficult problems," Bill Gates told a news conference in Brussels.

Breakthrough Energy Europe is expected to be operational in 2019, according to the Commission. Half of its capital will come from Breakthrough Energy and the other half will be risk-sharing instruments funded by Horizon 2020, the EU's research and innovation program.

Writing with AFP

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