![]() Demonstration projects like this are hugely complicated, extremely risky, and extraordinarily expensive - and it’s very hard to finance them. ![]() That means building an enormous physical plant, ironing out engineering, supply chain and distribution issues, repeating them over and over again and steadily cutting costs. ![]() ![]() Once you can make green hydrogen in a lab, you have to prove that it works - safely and reliably - at scale. When I was starting Microsoft, we didn’t need much infrastructure to write code and, once we’d written it, we could make nearly infinite copies with perfect fidelity for very little money.Ĭlimate-smart technologies are much more difficult to navigate. It is incredibly challenging for any start-up to commercialise its product, but it is uniquely so for energy companies. This will require a massive effort to fund hundreds of commercial demonstration projects of early-stage climate technologies. At COP26 we need to think about how to turn lab-proven concepts into ubiquitous products that people want and can afford to buy. If the world is really committed to climate innovation, however, then these breakthroughs must be only the beginning of the story, not the end. As a result, some important clean technologies - like sustainable aeroplane fuel, green steel and extra-powerful batteries - now exist and are ready to scale up. There is now significantly more money for basic research and development and more venture capital for clean start-ups in hard-to-decarbonise sectors than ever before. ![]()
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