By Andrew Mills

DOHA, Qatar (Reuters) – Rolls-Royce and Qatar will join forces in a multi-billion pound joint venture to invest and develop green technology startups in the UK. The goal is for the start-ups to reach the “unicorn status” and earn more than $1 million.

On Monday, they jointly announced that they plan to start five of these fast-growing firms by 2030. They also intend to add 20 companies in 2040.

According to the partners, these campuses would serve as test grounds for companies looking to develop and scale technologies that combat climate change. They said they hadn’t yet decided on the exact location or design of either campus but would announce more in “mid-2022”.

As world leaders begin the COP26 climate summit in Glasgow, the announcement of the largest liquefied supply company and aerospace group was made.

This project will create an “substantial” pool of investment capital to fund research and development, and early-state venture capital investments to scale up businesses. Rolls is expected provide manufacturing and engineering support.

According to the partners, they want to draw co-investors to Qatar and create opportunities for investors and Qatari companies to invest. This project will create approximately 10,000 jobs.

Qatar Foundation is the non-profit entity that will oversee the Qatar Investment Authority’s major UK investments.

Qatar is home to several notable investments, such as the Shard Skyscraper, Harrods department shop and Savoy hotel.