Aerospace company Rolls-Royce Holdings PLC (LSE:RR.) is joining forces with Qatar to launch a multi-billion fund that will invest in new green engineering projects in the UK and potentially create up to 10,000 jobs, according to news reports.
Qatar is planning to build a new science and engineering campus in the north of England for start-ups to test and develop new green technologies such as extracting carbon dioxide from industrial emissions, the Times reported.
The plan is to create five green engineering “unicorns” – startups worth $1bn and above – by the end of the decade and up to 20 by 2040.
Rolls-Royce would provide research, engineering and manufacturing support, according to City AM.
The plans could be unveiled alongside the COP26 climate talks in Glasgow this week.
Shares in Roll-Royce were 1.4% higher at 133.68p in mid-morning trade.