Bill Gates to spend $1 billion on yacht powered by hydrogen

Tech billionaire Bill Gates will spend £500m (NZ$1 billion) on a "superyacht" that's powered by hydrogen.

His purchase was revealed in a report by the UK's Sunday Telegraph, saying Gates would be the first to buy the vessel called 'AQUA'. It's being constructed by Feadship - a Netherlands-based superyacht company.

It means the construction and design of superyachts may never be the same, according to Forbes.

With the purchase, Gates, whose net worth is US$112.4b, has signalled his belief that cutting carbon emissions will be easier with clean and new technology.

"With every project, I challenge my team and myself to surpass ourselves," said the yacht's designer, Sander Sinot.

"For development of AQUA, we took inspiration from the lifestyle of a discerning, forward-looking owner, the fluid versatility of water and cutting-edge technology to combine this in a 376-foot superyacht with a fully operational liquid hydrogen and fuel cell system that features groundbreaking in technology, as well as design and esthetics," Sinot said, as reported by Forbes.

The Telegraph reports that the yacht is expected to set sail in 2024.