Rolls-Royce is joining forces with Qatar to build a science and engineering campus in the UK to develop green technology start-ups, as the aero-engine group seeks to accelerate its drive towards net zero.
The partnership would see the gas-rich Gulf state invest billions of pounds into the venture over the next 20 years, with the FTSE 100 company providing its manufacturing expertise and testing facilities, according to three people briefed on the talks. It could be unveiled as early as this week’s COP26 climate talks in Glasgow, said one person familiar with the talks.
While the exact details of the partnership still need to be finalised, the ambition is to build five green engineering “unicorns” — start-up companies valued at $1bn or more — by 2030 and up to 20 by 2040. Additional investment will be sought from external investors including venture capital funds.
“The Qataris are willing and able to invest. Given the climate crisis, you have to move at speed,” said the same person, comparing the plan to the government-backed network of catapult centres that link business and academia to develop research.
No comments:
Post a Comment