New and recently funded Energy Startups
1
Country: USA | Funding: $84M
Avalanche is a fusion energy startup that, unlike its competitors, is trying to create a miniature version of the fusion reactor. Their reactor is only 9 centimeters in diameter (the new version will increase to 25 centimeters and is expected to produce around 1 megawatt). The smaller size allowes Avalanche to speed up the process. The company tests modifications to its devices "sometimes twice a week," which would be difficult and expensive with a larger device. To confine the plasma, Avalanche's reactor uses an extremely high-voltage electric current to attract plasma particles into orbit around an electrode. It also uses magnets to maintain order, although they are nowhere near as powerful as those in a tokamak. As the orbit narrows and the plasma speed increases, the particles begin to collide with each other and fuse.
Avalanche is a fusion energy startup that, unlike its competitors, is trying to create a miniature version of the fusion reactor. Their reactor is only 9 centimeters in diameter (the new version will increase to 25 centimeters and is expected to produce around 1 megawatt). The smaller size allowes Avalanche to speed up the process. The company tests modifications to its devices "sometimes twice a week," which would be difficult and expensive with a larger device. To confine the plasma, Avalanche's reactor uses an extremely high-voltage electric current to attract plasma particles into orbit around an electrode. It also uses magnets to maintain order, although they are nowhere near as powerful as those in a tokamak. As the orbit narrows and the plasma speed increases, the particles begin to collide with each other and fuse.
2
Country: UK | Funding: £14M
ReEnergise developed High-Density Hydro technology to create pumped hydro energy storage systems that can be located in low-lying, hilly terrain, eliminating the need for high, steep slopes. The HD Hydro system uses a dense, mineral-rich liquid instead of water to reduce the system's size while delivering the same performance as a much larger system using regular water. The liquid recirculates through a pipeline between the upper and lower reservoirs. The compact size of the HD Hydro system allows for burying one or both reservoirs underground, preserving the land above for other uses. With an eight-hour operating cycle, this high-density hydropower system is half the cost of a lithium-ion battery system, without the risk of fire or environmental concerns. The company has already implemented a pilot project at Cornwood, a kaolin mine in the UK.
ReEnergise developed High-Density Hydro technology to create pumped hydro energy storage systems that can be located in low-lying, hilly terrain, eliminating the need for high, steep slopes. The HD Hydro system uses a dense, mineral-rich liquid instead of water to reduce the system's size while delivering the same performance as a much larger system using regular water. The liquid recirculates through a pipeline between the upper and lower reservoirs. The compact size of the HD Hydro system allows for burying one or both reservoirs underground, preserving the land above for other uses. With an eight-hour operating cycle, this high-density hydropower system is half the cost of a lithium-ion battery system, without the risk of fire or environmental concerns. The company has already implemented a pilot project at Cornwood, a kaolin mine in the UK.
3
Country: Estonia | Funding: €2M
Zero Terrain developed technology for pumped-storage hydroelectric power plants that allows them to be built on flat terrain without mountains that typically used for such projects. The technological innovation of Zero Terrain's solution lies in the placement of the lower reservoirs of the pumped-storage in the earth's crust with favorable geological conditions and the use of surface water bodies as upper reservoirs. Earth beams are used as the building structure, reducing the use of construction materials and the impact on land use. The modular design allows for increased storage capacity at a lower cost than any existing alternative. Low use of critical materials reduces supply risks. The company operates its own 500 MW hydroelectric storage facility, Energiasalv, in Estonia. During its nominal operating cycle of 30 hours, Energiasalv supplies 15 million kWh to the grid.
Zero Terrain developed technology for pumped-storage hydroelectric power plants that allows them to be built on flat terrain without mountains that typically used for such projects. The technological innovation of Zero Terrain's solution lies in the placement of the lower reservoirs of the pumped-storage in the earth's crust with favorable geological conditions and the use of surface water bodies as upper reservoirs. Earth beams are used as the building structure, reducing the use of construction materials and the impact on land use. The modular design allows for increased storage capacity at a lower cost than any existing alternative. Low use of critical materials reduces supply risks. The company operates its own 500 MW hydroelectric storage facility, Energiasalv, in Estonia. During its nominal operating cycle of 30 hours, Energiasalv supplies 15 million kWh to the grid.
4
Country: USA | Funding: $90M
Exowatt has developed P3 technology, which combines solar and battery power to provide data centers with reliable 24/7 power. The company manufactures container-sized modular units equipped with solar lenses. These lenses convert solar energy into heat, which is used to heat affordable materials. The heat can be stored for up to 24 hours and then is converted into electricity by an engine located inside the modules. The company also has a division specializing in providing land and energy infrastructure to support large-scale or hyperscale data centers. The startup is backed by OpenAI CEO Sam Altman and is implementing projects in high-solar areas of the southwestern United States, such as New Mexico, West Texas, Arizona, and Nevada.
Exowatt has developed P3 technology, which combines solar and battery power to provide data centers with reliable 24/7 power. The company manufactures container-sized modular units equipped with solar lenses. These lenses convert solar energy into heat, which is used to heat affordable materials. The heat can be stored for up to 24 hours and then is converted into electricity by an engine located inside the modules. The company also has a division specializing in providing land and energy infrastructure to support large-scale or hyperscale data centers. The startup is backed by OpenAI CEO Sam Altman and is implementing projects in high-solar areas of the southwestern United States, such as New Mexico, West Texas, Arizona, and Nevada.
5
Country: USA | Funding: $157.2M
Zanskar specializes in exploration and development of geothermal energy sources. It has developed AI platform for searching for geothermal deposits and constructs power plants at discovered sources. The company uses modern drilling and computational geophysics technologies to discover new resources, de-risk known resources, and mitigate the risk of "dry holes." Zanskar addresses key challenges hindering the rapid expansion of geothermal energy by reducing exploration costs and increasing the size of each geothermal deposit. Zanskar currently holds the industry's largest portfolio of conventional geothermal development projects across the western United States. For example, in 2024, Zanskar acquired the Lightning Dock geothermal power plant, which had been operating at low capacity for several years. In less than a year, Zanskar restored the plant to full capacity and is now supplying power to the grid after discovering and drilling in a deeper, hotter zone.
Zanskar specializes in exploration and development of geothermal energy sources. It has developed AI platform for searching for geothermal deposits and constructs power plants at discovered sources. The company uses modern drilling and computational geophysics technologies to discover new resources, de-risk known resources, and mitigate the risk of "dry holes." Zanskar addresses key challenges hindering the rapid expansion of geothermal energy by reducing exploration costs and increasing the size of each geothermal deposit. Zanskar currently holds the industry's largest portfolio of conventional geothermal development projects across the western United States. For example, in 2024, Zanskar acquired the Lightning Dock geothermal power plant, which had been operating at low capacity for several years. In less than a year, Zanskar restored the plant to full capacity and is now supplying power to the grid after discovering and drilling in a deeper, hotter zone.
6
Country: USA | Funding: $31.2M
Noon Energy is creating multi-day energy storage systems based on reversible solid oxide fuel cells. The system consists of power unit, charging tank (which converts electricity into a carbon-based storage medium, releasing oxygen into the air) and discharging tank (which extracts oxygen from the air to convert the stored energy back into electricity). The company has already demonstrated its battery operating for thousands of hours and claims that the system can operate in discharge mode for up to 200 hours at maximum power. The battery's compact design, according to the company, is 20-200 times smaller in area than other LDES technologies, citing flow batteries and pumped hydroelectric power plants as examples. Noon Energy also claims it uses only about 1% of the critical materials compared to lithium-ion batteries.
Noon Energy is creating multi-day energy storage systems based on reversible solid oxide fuel cells. The system consists of power unit, charging tank (which converts electricity into a carbon-based storage medium, releasing oxygen into the air) and discharging tank (which extracts oxygen from the air to convert the stored energy back into electricity). The company has already demonstrated its battery operating for thousands of hours and claims that the system can operate in discharge mode for up to 200 hours at maximum power. The battery's compact design, according to the company, is 20-200 times smaller in area than other LDES technologies, citing flow batteries and pumped hydroelectric power plants as examples. Noon Energy also claims it uses only about 1% of the critical materials compared to lithium-ion batteries.
7
Country: USA | Funding: $4.9B
Redwood Materials is a leading battery and electronics recycling company. Founded by Tesla co-founder JB Straubel, the company's primary business is electric vehicle battery recycling. But in addition to car batteries, it recycles phones, laptops, tablets, power tools and any other lithium-ion-containing devices - to recover critical minerals such as lithium, nickel, cobalt, and copper. The company also uses old batteries to create own energy storage systems that supply electricity to data centers and the national power grid. The company also offers the creation of corporate and municipal energy storages. Thanks to using the most affordable domestic batteries, combining used and new batteries and simplifying installation and system design, it offers the most cost-effective energy storage systems on the market.
Redwood Materials is a leading battery and electronics recycling company. Founded by Tesla co-founder JB Straubel, the company's primary business is electric vehicle battery recycling. But in addition to car batteries, it recycles phones, laptops, tablets, power tools and any other lithium-ion-containing devices - to recover critical minerals such as lithium, nickel, cobalt, and copper. The company also uses old batteries to create own energy storage systems that supply electricity to data centers and the national power grid. The company also offers the creation of corporate and municipal energy storages. Thanks to using the most affordable domestic batteries, combining used and new batteries and simplifying installation and system design, it offers the most cost-effective energy storage systems on the market.
8
Country: USA | Funding: $186.5M
Standard Nuclear produces TRISO nuclear fuel (from uranium), which is independent of reactor type. The TRISO (TRi-structural ISOtropic) fuel concept was first developed in the 1950s. Poppy-seed-sized uranium particles are coated with ceramic and carbon. They are then packed into larger spheres. This fuel pellet design will be more resistant to meltdown. Standard Nuclear’s modular manufacturing architecture is built for flexibility, allowing us to produce diverse fuel designs on a single production line with minimal switching time and cost. Many nuclear energy startups have announced they will use TRISO in their reactors. The company's clients include Radiant Energy and Nano Nuclear Energy.
Standard Nuclear produces TRISO nuclear fuel (from uranium), which is independent of reactor type. The TRISO (TRi-structural ISOtropic) fuel concept was first developed in the 1950s. Poppy-seed-sized uranium particles are coated with ceramic and carbon. They are then packed into larger spheres. This fuel pellet design will be more resistant to meltdown. Standard Nuclear’s modular manufacturing architecture is built for flexibility, allowing us to produce diverse fuel designs on a single production line with minimal switching time and cost. Many nuclear energy startups have announced they will use TRISO in their reactors. The company's clients include Radiant Energy and Nano Nuclear Energy.
9
Country: USA | Funding: $31.3M
Quidnet Energy develops long-duration geomechanical energy storage systems. This new form of underground pumped-storage hydroelectric power generation utilizes existing natural resources. Each module is manufactured using traditional drilling processes and standardized hydromechanical energy conversion components. The modules operate within a closed-loop water system designed to prevent energy loss through evaporation. When excess power is available, it is used to pump water from a pond into a borehole, maintaining it under pressure. The borehole is then closed, maintaining the stored energy under pressure for as long as needed. When power is needed, the borehole is opened, allowing the pressurized water to pass through a turbine to generate electricity and return to the pond for the next cycle.
Quidnet Energy develops long-duration geomechanical energy storage systems. This new form of underground pumped-storage hydroelectric power generation utilizes existing natural resources. Each module is manufactured using traditional drilling processes and standardized hydromechanical energy conversion components. The modules operate within a closed-loop water system designed to prevent energy loss through evaporation. When excess power is available, it is used to pump water from a pond into a borehole, maintaining it under pressure. The borehole is then closed, maintaining the stored energy under pressure for as long as needed. When power is needed, the borehole is opened, allowing the pressurized water to pass through a turbine to generate electricity and return to the pond for the next cycle.
10
Country: USA
Spero Renewables is developing a "green chemistry" technology for converting plant waste into fuel. Unlike traditional biofuel production processes, which focus on cellulose, which can be fermented into ethanol, Spero focuses on lignin - biopolymer that helps trees grow tall and transport water from their roots to their crowns (known for its resistance to degradation). Lignin is typically burned to produce its calorific value during biomass processing, but Spero has found out how to break down lignin into its molecular components and produce biofuels compatible with gasoline and jet fuel, as well as building blocks that can be used in renewable plastics and renewable materials instead of petroleum products. The company has a partnership with energy giant Shell.
Spero Renewables is developing a "green chemistry" technology for converting plant waste into fuel. Unlike traditional biofuel production processes, which focus on cellulose, which can be fermented into ethanol, Spero focuses on lignin - biopolymer that helps trees grow tall and transport water from their roots to their crowns (known for its resistance to degradation). Lignin is typically burned to produce its calorific value during biomass processing, but Spero has found out how to break down lignin into its molecular components and produce biofuels compatible with gasoline and jet fuel, as well as building blocks that can be used in renewable plastics and renewable materials instead of petroleum products. The company has a partnership with energy giant Shell.
