The European Commission and the Bill Gates-led Breakthrough Energy are to launch a joint €100 million clean energy investment fund, Breakthrough Energy Europe. 

Breakthrough Energy Europe will be a joint investment fund that aims to help innovative European companies develop and introduce radically new clean energy technologies to the market. Expected to begin operations in 2019, the joint venture, which was announced following Bill Gates’ visit to Brussels on October 17th, will look to link public funding with long-term risk capital so that clean energy research and innovation can be introduced in a faster and more efficient manner. 

The initiative comes about as the planet faces the often unpredictable consequences of climate change and resource depletion, and the realisation that urgent action is needed to adapt to a more sustainable model. The project will serve as a pilot scheme and model for further collaborations between the public and private sectors, a topic recently discussed at the EFC’s Research Forum in Hanover on cross border research and funding opportunities.