Carbon Trust launches £250m Qatar-UK cleantech fund

The fund will target venture capital investments in clean energy businesses primarily located in the UK, and also selected investment opportunities in continental Europe. The fund will also consider investing in the Gulf Region once an investment capability is established in Qatar, according to a statement.

The fund will begin investing with up to £150m committed from the QIA alongside the Carbon Trust’s commitment. It will look for further funding from other investors to bring the maximum amount to £250m.

The fund was launched as part of an announcement regarding a long-term strategic partnership between Qatar and the UK from Prime Minister Gordon Brown.

Brown said, ‘Today’s announcement is an excellent example of the partnerships we need between oil producing and oil consuming countries to develop new energy sources and technologies, diversifying our economies and reducing our carbon emissions. I am very pleased that the Carbon Trust will be working with the Government of Qatar to help bring about the move to a global low carbon economy.’

Tom Delay, chief executive, Carbon Trust, added, ‘Mitigating climate change will bring a wealth of new business opportunities as low carbon technologies are developed and commercialised. This new clean technology fund will put the UK at the heart of low carbon innovation. By investing in home grown companies developing cutting edge low carbon technologies it will enable the UK to benefit commercially from the move to a low carbon economy.’

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