![]() ![]() Moosa said Europe was leading the world in various aspects of the low-carbon transition, making it a fertile hunting ground for new companies.Įurope aspires to become the first carbon-neutral continent, and regulations are expected to support the goal, creating a likely boost for portfolio companies.īrandon Middaugh, director of the Microsoft Climate Innovation Fund, said in a statement that it picked EIP as its first fund investment in climate tech as part of the company's efforts to become carbon negative by 2030. To-date, EIP has invested in a number of European firms including renewable energy supplier Zolar, portable battery provide Instagrid, and environmental, social and governance data provider ESG Book. Moosa said the fund will invest between $10 million and $40 million in Series A, B and C funding rounds, and expects to invest the money over the next couple of years in up to 18 firms. Other financial investors include Norwegian government-backed Nysnø Climate Investments and Dutch pension fund ABP, through its asset manager APG. Other companies investing in the European fund include Électricité de France (EDF.PA), Shell (SHEL.L), EWE AG (LANDWE.UL), Mainova (MNVG.F), AGL Energy Ltd (AGL.AX), TrønderEnergi AS (TROEN.UL) and Microsoft (MSFT.O), through its Climate Innovation Fund. "These incumbents are the ones that own the critical infrastructure, and if we want those to decarbonise, we have to work with them," Co-Managing Partner Nazo Moosa said. To-date, EIP said the model of connecting strategic investors with start-ups, had resulted in portfolio companies signing over 350 contracts for a combined value of more than $1 billion. Create your beautiful Instagram feed and add panoramic or giant square photos Just choose your favourite photos, apply best layout, turn them into a grid and upload to Instagram. That coalition of 50-plus companies span some of the heaviest emitting sectors such as energy, transport and agriculture, many of which also backed the new fund, including Fortum (FORTUM.HE), and Galp (GALP.LS). Download InstaGrid - Make photo grid and enjoy it on your iPhone, iPad and iPod touch. ![]() Register now for FREE unlimited access to Register
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