QF-Rolls-Royce deal to make Qatar a leader in climate technology

QNA Doha The long-term partnership between Qatar Foundation (QF) and Rolls-Royce, which was announced at the ongoing COP26 climate summit in Glasgow on Mon...

QNADohaThe long-term partnership between Qatar Foundation (QF) and Rolls-Royce, which was announced at the ongoing COP26 climate summit in Glasgow on Monday, seeks to establish an international centre for technological innovation related to clean energy, QF International CEO Omran Al Kuwari has said.The centre will help create and develop new climate technology businesses, aided by academic leadership, funds for R&D and early-stage venture capital investment, he said, adding that it would be a first-of-its-kind in the field of climate technology. Speaking to Qatar News Agency (QNA), Kuwari said QF and Rolls-Royce were partners in developing two research facilities in Qatar and the United Kingdom. The two sides aim to launch, invest in and grow businesses that can accelerate the global energy transition. The partnership will launch five startups by 2030, and another 20 by 2040, he added.Kuwari said Qatar aims to localise technology, especially clean energy technology, which he described as the basis of the future and in implementation of what was stated in the Qatar National Strategy for Environment and Climate Change. He said he expects the agreement to place Qatar among the top five countries worldwide in the field of clean energy R&D (as a percentage of GDP), and as a leader among small and advanced economies.He stressed that the partnership would achieve a qualitative leap in the field of climate research, as the global centre for innovation in climate technology will work to attract partners from investors and innovators at a global level, and benefit from the role of the United Kingdom as a global centre for financing climate activities and climate technology. The partnership would also accelerate the desired impact of addressing one of the most pressing global challenges represented by climate change, which the international community is looking to address, he added.Kuwari said Qatar has been working for many years on investing in research and development to benefit the country in economic and developmental aspects. He added that the goal of investing in international companies with long history of investments into R&D is to ultimately invest in Qatar’s human component by integrating young talents in research and development projects that belong to these large companies, which would help them gain experience and eventually transfer it back to their home country to train and educate the younger generations.He explained that this partnership will provide leading job opportunities for Qataris aspiring to engage in pioneering job experiences, as the two research facilities are expected to provide up to 1,000 jobs, and at least 10,000 jobs within related startup companies by 2040, in addition to providing investment opportunities to Qatari companies and investors through dedicated financing.He said Qatar has been deeply committed to clean energy for years, by looking to diversify its energy sources and benefiting from other natural resources like wind and solar energy. He said that investing in renewable energy is an important part of building a modern infrastructure. He highlighted that Qatar Foundation already has a national research centre that is dedicated to the field of environment and energy.