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Commission and Bill Gates to launch €100 million clean energy fund

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(17/10/2018) Today, the Commission and Breakthrough Energy, led by Bill Gates, will launch a new investment fund – Breakthrough Energy Europe – to help innovative European companies develop and bring radically new clean energy technologies to the market.

Commissioner Moedas, responsible for Research and Innovation and Bill Gates, Chairman of Breakthrough Energy Ventures, signed an official Memorandum of Understanding in the presence of Vice-President Maroš Šefčovič to establish the joint fund. With a capitalisation of €100 million, Breakthrough Energy Europe will give a strong signal to markets and investors that the global transition to a modern clean economy is here to stay.

With this initiative, the Commission takes action to continue leading in the fight against climate change and to deliver on the Paris Agreement. As our planet increasingly faces the unpredictable consequences of climate change and resource depletion, urgent action is needed to adapt to a more sustainable model and modernise Europe's economy and industry.

The Commission is currently working on the long-term strategy for the reduction of greenhouse gases. The proposal will be published in November 2018, ahead of the COP24 in Katowice, Poland.

More info: https://europa.eu/!Xh48mh
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