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France unveils $35B investment plan for innovative technology
France announced a $35 billion five-year plan to develop innovative technology and industrial activity to help boost its economic growth. An AP news story said the plan includes $9.2 billion to develop energy technology to help reduce greenhouse gas emissions and additional funding to finance small nuclear reactors. Called France 2030, the plan contains 10 objectives including making France a green hydrogen leader with at least two gigafactories of electrolysers that will produce hydrogen; decarbonize industry by reduce greenhouse gas emissions by 35 percent compared to 2015; produce nearly 2 million electric and hybrid vehicles; and, build low-carbon aircraft.
Other objectives in the plan include investing in sustainable and traceable food and producing 20 biomedicines against cancer and chronic diseases. French President Emmanuel Macron said in unveiling the plan that the goal is to boost France’s economic growth over the next decade amid growing global competition. He also said the plan will give agile start-ups a key role alongside well-established corporate giants.