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The European Commission and Breakthrough Energy have agreed on the signature of a Memorandum of Understanding in order to launch an investment fund to support innovative actions in the field of clean energy.
The European Commission and Breakthrough Energy Ventures, chaired by Bill Gates, have signed a Memorandum of Understanding on the creation of a joint investment fund, Breakthrough Energy Europe, with a capitalisation of €100 million that will be funded in equity by InnovFin (a financial instrument funded through Horizon 2020).
With this initiative, the Commission takes action to continue leading in the fight against climate change and to deliver on the Paris Agreement – giving a strong signal to capital markets and investors that the global transition to a modern and clean economy is here to stay. The fund is expected to be operational in 2019.
25 August 2021
