UK Government, Bill Gates' Catalyst Program Launch GBP400 Million Green Investment Partnership
October 19 2021 - 7:00AM
Dow Jones News
By Sabela Ojea
The U.K. government said Tuesday that it is partnering with Bill
Gates's Breakthrough Energy Catalyst in a 400 million pounds
($549.1 million) initiative aimed at boosting green technology
throughout the country.
The strategic partnership between U.K. Prime Minister Boris
Johnson and billionaire philanthropist and Microsoft Corp.
co-founder Mr. Gates will leverage GBP200 million from
private-sector investment in the U.K. to achieve net-zero emissions
by 2050, the government said.
Investment will focus on the areas of green hydrogen, long-term
energy storage, sustainable aviation fuels and direct air capture
as part of the GBP1 billion Net Zero Innovation Portfolio, the U.K.
government said.
Investors and businesses partnered with the Breakthrough Energy
Catalyst, the program established in 2015 by Mr. Gates and a
coalition of private investors, will now match GBP200 million of
that investment, the U.K. government added.
The institutional net zero innovation portfolio is part of the
government's 10 Point Plan for Green Industrial Revolution.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
October 19, 2021 06:45 ET (10:45 GMT)
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