The European Commission has backed a €100-million public-private fund for clean-energy innovation and helped find 19 national representatives to champion such innovation.
The Commission announced the joint fund with the European Investment Bank and the private investment group Breakthrough Energy Ventures Europe on 29 May. The bank and venture capitalists will each contribute €50 million, while the Commission provides financial assurances.
An agreement establishing the fund was signed in October 2018 by the research and innovation commissioner Carlos Moedas and Microsoft founder Bill Gates, representing Breakthrough Energy Ventures.
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