The European Union and an energy investment programme founded by Bill Gates plan to raise up to $1 billion to roll out the low-carbon technologies Europe is betting on to meet its climate change goals. The partnership would see Gates-founded Breakthrough Energy use private capital and philanthropic funds to match funding provided by the EU.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The aim is to together provide up to 820 million euros, or $1 billion, from 2022 to 2026. Support will target hydrogen produced from renewable energy, sustainable aviation fuels, technology to suck CO2 out of the atmosphere, and long-duration energy storage. Those technologies are seen as critical to slashing emissions from sectors like heavy industry and aviation but remain too expensive to scale up without support and compete with cheaper fossil fuel alternatives.
Important takeaways for all competitive exams:
- European Union Headquarters location: Brussels, Belgium;
- European Union Founded: 1 November 1993.
February 2025 Special Days: List of Nati...
Vinod Kumar Shukla Selected for 59th Jna...
IPL Winners List from 2008 to 2025, Comp...
