LONDON Oct 19 Reuters - Bill Gates is working with the UK government to introduce new greener technologies and reduce the cost of technology for countries to hit net zero emission targets by 2050.
Boris Johnson was addressing the global investment summit alongside Prime Minister Gates, who said investment was needed to further develop new technologies that are currently too expensive for the consumer market.
Gates said he would work with the UK to identify which projects should be backed and that he expected at least one of the projects to be ready to scale up in the next five years.
They would scale those up and bring down that cost, so we'll get these to the same place we are today with solar wind and onshore wind, and can be scaled up to reduce emissions, he said.
Johnson's government said the partnership of 400 million pound 552 million would supercharge green tech investment in the country, including in areas such as long-term energy storage and global warming of hydrogen, while using renewable fuels to create electric power and air capture of carbon dioxide.
Britain has already pledged at least 200 million pounds to the development of new UK projects, and investors and businesses supporting the Gates Project will match that sum.