PPL Corporation announced today that it has joined Energy Impact Partners, a global venture capital platform leading the transition to a sustainable future, in their Flagship Fund, Fund II.

The fund received $1 billion in commitments and will focus on investing in companies advancing critical climate solutions.

PPL’s participation in Fund II is part of the company’s commitment to invest up to $50 million across EIP’s platform to accelerate the shift to a low-carbon future and drive commercial-scale solutions.

The fund will identify cutting-edge technologies that advance the zero-carbon economy.

This includes companies innovating across supply decarbonization, electrification, tech-enabled infrastructure, reliability and resilience, and intelligent demand.