ATLANTA, Nov. 12, 2021 /PRNewswire/ -- Southern Company, a leading U.S. energy company serving 9 million customers and the founding member of Energy Impact Partners (EIP), a global venture capital platform leading the transition to a sustainable future, announced today the launch of EIP's Flagship Fund, Fund II. The Fund received $1 billion in commitments and will focus on investing in venture and growth companies advancing critical climate solutions.
Through Fund II, Southern Company will continue working with EIP to identify cutting-edge technologies that advance the zero-carbon economy and address our global decarbonization goals. This includes companies innovating across supply decarbonization, electrification, mobility, tech-enabled infrastructure, reliability and resilience and intelligent demand.
"As the founding partner of Energy Impact Partners, Southern Company continues to believe in the platform's mission to find and nurture those companies aiding the world's transition to a sustainable energy future. Equally important are the deeper conversations we are having with the portfolio companies around technology and business model innovation - we've engaged over half of the portfolio companies in those conversations. We see this as vital for the future of our business, our ability to achieve our sustainability goals and delivering the energy solutions our customers require," said Christopher Cummiskey, EVP and Chief Customer Solutions Officer, Southern Company.
Fund II has already made significant investments in more than a dozen promising technology companies that are critical to accelerating the energy transition. EIP looks for inspired entrepreneurs that re-imagine the future and helps them scale leveraging its partner coalition.
"We are thrilled to work with Southern Company as part of our largest coalition of utilities and industrials focused on creating a sustainable future," said Hans Kobler, Founder and Managing Partner of EIP. "Tackling climate change is a major challenge and opportunity that can only be solved by working together. Our unique engagement model helps our partners innovate, drives growth in our investments and as a result maximizes real near-term impact on the climate."
About Southern Company Southern Company (NYSE: SO) is a leading energy company serving 9 million customers through its subsidiaries. The company provides clean, safe, reliable and affordable energy through electric operating companies in three states, natural gas distribution companies in four states, a competitive generation company serving wholesale customers across America, a leading distributed energy infrastructure company, a fiber optics network and telecommunications services. Southern Company brands are known for excellent customer service, high reliability and affordable prices below the national average. For more than a century, we have been building the future of energy and developing the full portfolio of energy resources, including carbon-free nuclear, advanced carbon capture technologies, natural gas, renewables, energy efficiency and storage technology. Through an industry-leading commitment to innovation and a low-carbon future, Southern Company and its subsidiaries develop the customized energy solutions our customers and communities require to drive growth and prosperity. Our uncompromising values ensure we put the needs of those we serve at the center of everything we do and govern our business to the benefit of our world. Our corporate culture and hiring practices have been recognized nationally by the U.S. Department of Defense, G.I. Jobs magazine, DiversityInc, Black Enterprise, Forbes and the Women's Choice Award. To learn more, visit www.southerncompany.com.
About Energy Impact Partners Energy Impact Partners, LP (EIP) is a global investment firm leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information on EIP, please visit www.energyimpactpartners.com.