European businesses working on cleantech solutions could soon receive an investment boost, thanks to a €100m investment fund launched yesterday by Bill Gates and the European Union. The Breakthrough Energy Ventures Europe (BEV-E) fund, launched yesterday under the Mission Innovation initiative, will help European companies and clean energy entrepreneurs scale and bring to market carbon-cutting technologies. The European Investment Bank is contributing €50m, while the investor-led fund chaired by Bill Gates, Breakthrough Energy Ventures, is contributing the other €50m. “Breakthrough Energy Ventures-Europe is a great example of driving innovative ways for the private and public sectors to collaborate, deploy capital, and build companies,” Gates said. “We have the resources to make a meaningful difference, and the flexibility to move quickly. That’s a rare and powerful combination.” The fund will invest in firms working to cut emissions in five areas: electricity, transportation, agriculture, manufacturing and buildings, the EU said. Investments are expected to start in the second half of 2019.
Business Green 30th May 2019 read more »