Bill Gates and EU Jointly Invest 111.3 Billion KRW in European Green Technology Development

Bill Gates [Photo by Reuters Yonhap News]

[Asia Economy Reporter Park Byung-hee] Major foreign media reported on the 2nd (local time) that Bill Gates and the European Union (EU) will jointly invest 8.2 million euros (approximately 111.3 billion KRW) to develop European eco-friendly technologies.

The European Commission announced on the same day that it will invest in European low-carbon technologies together with Breakthrough Energy, founded by Gates.

Breakthrough Energy was established by Gates in 2015. Gates operates investment funds and donation programs for greenhouse gas reduction and eco-friendly technology development under the organization called Breakthrough Energy.

The Commission stated that it plans to secure 820 billion euros in investment funds with Breakthrough Energy from next year until 2026.

The secured funds will be invested in hydrogen energy, eco-friendly aviation fuel, atmospheric carbon dioxide capture, and the development of long-term usable energy storage technologies. It explained that these technologies can reduce greenhouse gases in heavy industry and transportation sectors.

The Commission explained that this investment cooperation is part of the EU’s long-term greenhouse gas reduction plan to achieve carbon neutrality by 2050.

This content was produced with the assistance of AI translation services.