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Energy Impact Partners (EIP) has announced that Microsoft is joining the new EIP global Partner network through its newly formed $1 billion Climate Innovation Fund.

EIP’s Partner Network includes over 30 major energy and industrial companies, that have joined the firm’s global coalition around a shared mission to accelerate the pace of innovation and rapid adoption of critical climate solutions.

The Climate Innovation Fund 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.

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Microsoft has committed to investing $1 billion in climate solutions that need capital to scale in the market and investments to accelerate existing climate solutions and create new technologies.

By 2030, Microsoft has pledged to be carbon-negative.

Hans Kobler Founder and Managing Partner at EIP, said: “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.”

Brandon Middaugh, director of the Microsoft Climate Innovation Fund will also join the EIP ESG Advisory Committee. Middaugh adds: “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.”