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