Energy Impact Partners (EIP), a global investment platform leading the transition to a sustainable energy future, has announced that Microsoft Corp. is joining EIP’s global Partner network through its newly formed $1 billion Climate Innovation Fund.
EIP’s Partner Network includes over 30 major energy and industrial companies, who join the firm’s global coalition around a shared mission to accelerate the pace of innovation and rapidly scale the adoption of critical climate solutions. EIP has pioneered a unique, collaborative engagement model that elevates insights and best practices, invests in transformative businesses, and supports the growth of clean technology startups by facilitating dedicated industrial partnerships between its portfolio and investor base.
“To reimagine a sustainable energy future in this critical decade for action, it is essential for industry and innovators to work together. We are thrilled to welcome Microsoft to our global innovation platform. Their experience and expertise will only strengthen the leverage of our remarkable coalition in this common cause,” says Hans Kobler Founder and Managing Partner at EIP.
The Climate Innovation Fund, which launched in January as part of Microsoft’s wider, ongoing commitment to a carbon-negative future, was set up to accelerate the global development of carbon reduction, capture, and removal technologies. Over the next four years, Microsoft has committed to investing $1 billion in climate solutions that need capital to scale in the market and investments that will accelerate existing climate solutions and create new technologies. With its global cloud footprint, Microsoft relies on energy systems around the world. Investments in grid resilience, backup power, energy efficiency, and load management can provide insights and solutions for its own operations. By 2030, Microsoft has pledged to be carbon-negative, learn more about the company’s carbon goals at Microsoft on the Issues.
“Microsoft and EIP both know that to quickly make the technological changes to address climate change, we need to invest in accelerating innovation, sharing learnings among partners, and collaborating. The EIP platform creates an ecosystem for innovation in which portfolio companies and investors work together to solve key challenges in decarbonizing and digitizing the energy and transportation sectors,” states Brandon Middaugh, director of the Microsoft Climate Innovation Fund. Middaugh will also join the EIP ESG Advisory Committee.
Disclaimer: This story has not been edited by CSRLive Staff and is auto-generated from news agency feeds | Source: News Wire |