US energy company PPL Corporation has joined global cleantech investment platform Energy Impact Partners to help accelerate the shift to low-carbon energy and digital technologies.
PPL Corporation will be investing $50 million through Energy Impact Partners to help accelerate research, development, commercialisation, and usage of solutions that are capable of delivering reductions in carbon emissions, energy security, and environmental sustainability.
Have you read?
Cybersecurity for critical infrastructure gets a boost in US
eBook identifies threats to utility grid modernisation efforts
Nozomi Networks secures VC to advance critical infrastructure protection
Vincent Sorgi, the CEO of Energy Impact Partners, said: “We recognise that it will take new systems and technologies to achieve net-zero emissions while preserving energy reliability and affordability, and we look forward to partnering with EIP to fuel this innovation.”
The funding pledged by PPL Corporation will be dispersed through Energy Impact Partners’ new investment mechanism Elevate Future Fund, which aims to create a more diverse founder community and inclusive venture capital ecosystem within the broader energy transition.
The focus will be on energy supply decarbonisation, electrification, tech-enabled infrastructure, reliability, intelligent demand solutions, and resilience.
Sorgi, added: “Advancing the clean energy transition and fostering greater diversity, equity and inclusion are core to our long-term strategy and commitments at PPL, and we see a perfect marriage of these two objectives in EIP’s Elevate Future Fund.”
PPL Corporation is also supporting the Low-Carbon Resources Initiative, led by the Electric Power Research Institute and Gas Technology Institute to encourage the acceleration of low-carbon technologies and to promote diversity, equity and inclusion.