Rolls-Royce, the engine manufacturer, has entered into a long-term partnership with the State of Qatar to invest billions in green engineering projects, enabling it to rank among the top five countries in the world investing in research and development in the field of clean energy, according to the newspaper "The Guardian". Monday.
The project aims to fund entrepreneurs who are finding innovative ways to help transition to zero carbon neutrality.
The deal was announced on the sidelines of the climate conference in Glasgow, where the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, met British Prime Minister Boris Johnson.
The deal will include creating about 1,000 jobs on two campuses, one in northern England and the other in Qatar, where climate technology companies will be created, launched and developed.
He hopes that about 10,000 additional jobs will be created in the projects that will emerge from it and in the clean technology economy.
The deal guarantees the creation of five unicorns (private companies valued at more than $1 billion) by 2030, and plans to establish 20 companies by 2040.
Qatar, for its part, will provide funding for campus development and project support for two decades, through the Qatar Foundation, a state non-profit organization.
At the same time, Rolls-Royce will provide knowledge in engineering and high-end manufacturing, and use the center to develop emerging climate technologies.
The startups will be provided with academic assistance and funding for on-campus research and development, along with early-stage venture capital investment, so that researchers can later test, demonstrate, and scale their technologies.
"This partnership with Qatar Foundation will enable us to accelerate progress in clean energy, including allowing us to take full advantage of emerging technologies that can have a significant impact on tackling climate change," said Warren East, CEO of Rolls-Royce.
Qatar's national strategy for 2030 includes gradual economic diversification, in which the emirate aims to reduce dependence on fossil fuels such as oil and gas.
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