EDGE
Book a demo

Climate Tech - Energy

Moving industry forward with next-generation advancements in energy storage and transmission.

Overview

The science is settled. Human activities that emit greenhouse gasses (GHG) are warming the planet and causing devastating climate change. Current GHG emissions levels must be halved by 2030 and net-zero GHG emissions must be reached by 2050 to contain global warming at a sub-catastrophic level. As fossil fuel-based energy production is a leading cause of GHG emissions, clean energy technologies play a vital role in a sustainable future for the planet. 

The cost of solar and wind energy has fallen considerably over the past decade and no longer yields a significant cost disadvantage compared to fossil fuels. Next-generation renewable technologies such as waste-to-energy, sustainable fuels, fusion energy, geothermal, wave, and tidal, etc. are still at a nascent stage but can be expected to follow similar declining cost principles as they scale. Next-generation advancements in energy storage and energy optimization and management software are also vital in matching the intermittent supply of renewable energy with inflexible demand.

What's driving this industry?
Market Sizing

The US market for the ClimateTech-Energy industry could reach USD 19.2–25.6 billion by 2025

Conservative case

USD 19.2 Bn

Base case

USD 21.5 Bn

Expansion case

USD 25.6 Bn

USD billion1015202530202020212022202320242025
View details

COVID-19 IMPACT

The Covid-19 pandemic has made consumers more open to shifting behavior toward environmental protection.

  • In a April 2020 survey, 48% of respondents said that the pandemic had made them more concerned about the environment.

  • Environmental activists are urging governments to pass Covid-19 stimulus packages that invest in a ”Green Recovery”.

  • Several ClimateTech-Energy startups adapted to the Covid-19 pandemic by offering new services to customers.

    • BBOXX: Offered discounts to support underprivileged households.

    • LanzaTech: Produced hand sanitizers and disinfectants from ethanol byproducts of its biorefinery operations.

    • Innowatts: Claimed that its artificial intelligence (AI)-based grid management solution was able to accurately predict large fluctuations in electricity demand during lockdowns.

  • At the same time, some ClimateTech-Energy startups experienced business hardships due to the pandemic.

    • Oxford PV’s plans to commence production at its new facility were postponed by one year due to Covid-19-led shipping delays.

    • Hydrostor abandoned its plans to build a compressed air renewable energy storage facility in Australia

Market Mapping

Energy storage startups dominate the industry

The Climate Tech - Energy industry is dominated by Stationary and Non-stationary Energy Storage Startups. They have also received the most amount of funding. Majority of the pre-seed and seed stages startups are from the Third-generation Renewables and Non-stationary Energy Storage segments. Most of the early and growth stage startups are from Stationary Energy Storage and Energy Optimization and Management Software segments.

Incumbents
Growth
Early
Seed
Pre-Seed
Renewables: NextGen Solar, Wind, Hydro
?
Renewables: NextGen Bioenergy and Sustainable Fuels
?
Renewables: Third-generation
?
Energy Storage: Stationary
?
Energy Storage: Non-stationary
?
Energy Optimization and Management Software
?
NAWATechnologies
NAWATechnologies
NAWATechnologies
NAWATechnologies
NAWATechnologies
NAWATechnologies
Total
Eni
Aker Solutions
Saipem
Shell
Tesla
BP
General Electric
BBOXX
Oxford PV
Ubiquitous Energy
Natel Energy
Sunroof
Heliogen
NEXT Energy
SolarWindow Technologies
Insolight
Total
Eni
Saipem
Shell
ExxonMobil
BP
Oxy
Anaergia
Enerkem
Blue Sphere
LanzaTech
Carbon Engineering
Twelve
Woodland Biofuels
NewCO2Fuels
Prometheus Fuels
Synthetic Genomics
Eni
Schneider Electric
Ocean Power Technologies
Dandelion Energy
AW-Energy
Net Power
Eavor
Minesto
Ocean Renewable Power Company
Quaise
TerraCOH
Commonwealth Fusion Systems
TAE Technologies
General Fusion
Tokamak Energy
First Light Fusion
Zap Energy
Total
CATL
Shell
LG Energy
Tesla
BP
General Electric
EOS Energy Storage
ESS
Fluence
Hydrostor
24M Technologies
Natron Energy
Moixa
Quidnet Energy
Azelio
Moxion Power
Form Energy
Energy Vault
Ambri
Malta
TerraCOH
Total
CATL
Samsung
Panasonic
LG Energy
Tesla
Romeo Power
Nanoramic Laboratories
Northvolt
QuantumScape
Sila Nanotechnologies
Solid Power
SES
StoreDot
Ionic Materials
NAWATechnologies
Group14 Technologies
Gridtential Energy
Advano
InoBat
Nanotech Energy
Nyobolt
Total
Eni
Landis+Gyr
Aker Solutions
Shell
Panasonic
Itron
BP
Octopus Energy
General Electric
Schneider Electric
Cisco
Stem
Arcadia
AutoGrid
Origami Energy
Twaice
Innowatts
Moixa
DEPsys
ConnectDER
WeaveGrid
ION Energy
Habitat Energy

The Disruptors

Significant funding at very early stages of operations

The capital intensive nature of this industry has led many ClimateTech-Energy startups to raise significant funding at very early stages of their operations. This appetite for cash has also prompted many Climate Tech - Energy startups to seek public funds fairly quickly, sometimes even while the business is still at conceptual stages—mostly through unconventional methods such as special purpose acquisition company (SPAC) deals and over-the-counter (OTC) listings. 

Renewables: NextGen Solar, Wind, Hydro

?

Disruptors

?
Funding in USD Millions
Heliogen
Public - Market cap USD 660.1 mn
SolarWindow Technologies
Public - Market cap USD 195.0 mn
BBOXX
169
Oxford PV
152
Ubiquitous Energy
75
Natel Energy
66
NEXT Energy
35
Insolight
20
Watchlist
?
Sunroof

Renewables: NextGen Bioenergy and Sustainable Fuels

?

Disruptors

?
Funding in USD Millions
Anaergia
Public - Market cap USD 825.1 mn
Blue Sphere
Public - Market cap USD 55.9 k
Enerkem
616
LanzaTech
310
Synthetic Genomics
175
Carbon Engineering
110
Twelve
68
Woodland Biofuels
33
Prometheus Fuels
0
Watchlist
?
NewCO2Fuels

Renewables: Third-generation

?

Disruptors

?
Funding in USD Millions
Minesto
Public - Market cap USD 273.1 mn
Ocean Power Technologies
Public - Market cap USD 73.2 mn
Commonwealth Fusion Systems
1999
TAE Technologies
917
General Fusion
322
Tokamak Energy
162
Net Power
150
Dandelion Energy
65
Eavor
64
First Light Fusion
62
Zap Energy
43
Ocean Renewable Power Company
43
AW-Energy
31
Watchlist
?
Quaise
TerraCOH

Energy Storage: Stationary

?

Disruptors

?
Funding in USD Millions
ESS
Public - Market cap USD 2.3 bn
EOS Energy Storage
Public - Market cap USD 305.5 mn
Azelio
Public - Market cap USD 280.8 mn
Form Energy
369
Hydrostor
297
Energy Vault
230
Ambri
211
Fluence
125
24M Technologies
95
Malta
87
Natron Energy
50
Moixa
22
Quidnet Energy
18
Moxion Power
13
Watchlist
?
TerraCOH

Energy Storage: Non-stationary

?

Disruptors

?
Funding in USD Millions
QuantumScape
Public - Market cap USD 8.7 bn
Solid Power
Public - Market cap USD 1.4 bn
Romeo Power
Public - Market cap USD 418.5 mn
Northvolt
6040
Sila Nanotechnologies
880
SES
325
StoreDot
190
Nanotech Energy
95
Ionic Materials
65
NAWATechnologies
48
Group14 Technologies
42
Nanoramic Laboratories
39
Gridtential Energy
30
Nyobolt
24
Advano
24
InoBat
17

Energy Optimization and Management Software

?

Disruptors

?
Funding in USD Millions
Stem
Public - Market cap USD 2.2 bn
Arcadia
171
AutoGrid
161
Origami Energy
80
Twaice
42
Innowatts
24
Moixa
22
DEPsys
19
ConnectDER
18
WeaveGrid
15
ION Energy
5
Habitat Energy
Unknown

Heliogen

Heliogen focuses on generating electricity and heat using an array of computer-controlled mirrors (heliostats) that collect and concentrate sunlight to generate ultra-high temperatures of around 1,000 °C. 

Heliogen offers three solutions: 1) HelioHeat uses the company's solar concentration technology in heat-intensive industrial applications such as production of cement, lime, and steel, etc. to reduce the use of fossil fuels to generate heat; 2) HelioPower combines solar concentration with supercritical CO2 turbines to generate electricity to power industrial facilities, data centers, and mining operations; 3) HelioFuel uses solar concentration to produce renewable-hydrogen. 

As of January 2021, Heliogen has yet to commercialize its technology, but it successfully operates a demonstration site in California. In November 2020, Heliogen received a grant of USD 39 million from the US Department of Energy to develop a supercritical carbon dioxide power cycle that operates using Heliogen’s concentrated solar thermal energy.

In October 2021, Heliogen partnered with Woodside Energy, a wholly-owned subsidiary of the leading Australian energy producer Woodside Petroleum, to develop a five-megawatt concentrated solar demonstration facility in California. Construction of the facility is expected to begin in 2022.

Heliogen’s most recent funding event was in June 2021 when it raised USD 83 million from investors including ArcelorMittal (a Luxembourg-based multinational steel manufacturer), Edison International, Prime Movers Lab, Ocgrow Ventures, A.T. Gekko, and 8090 Partners to accelerate the global deployment of its technology.

In December 2021, Heliogen was listed on NYSE through a special purpose acquisition company (SPAC) merger. The company received USD 188 million from the transaction and expects to use the proceeds to scale heliostat manufacturing and R&D activities.

Segment:
Renewables: NextGen Solar, Wind, Hydro
Total funding:
USD 355.6 million
Competitors:
Oxford PV, Insolight, Sunroof
Disruptor Funding History

Renewables: NextGen Solar, Wind, Hydro:

Heliogen
SolarWindow Technologies
BBOXX
Oxford PV
Ubiquitous Energy
Natel Energy
NEXT Energy
Insolight
Sunroof

Renewables: NextGen Bioenergy and Sustainable Fuels:

Anaergia
Blue Sphere
Enerkem
LanzaTech
Synthetic Genomics
Carbon Engineering
Twelve
Woodland Biofuels
Prometheus Fuels
NewCO2Fuels

Renewables: Third-generation:

The Incumbents

Oil and gas majors moving toward next-gen climate tech 

Oil and gas and other fossil fuel energy companies are increasingly adopting ClimateTech to meet their sustainability commitments. While these initiatives are still mostly conventional renewable energy generation projects such as solar and wind, some companies, especially oil and gas supermajors, are also gradually exploring next-generation ClimateTech solutions such as bioenergy and sustainable fuels. 

Non-stationary energy storage and energy optimization and management software segments are also home to a considerable amount of incumbent companies. Diversified electronics companies such as LG, Panasonic, and Samsung dominate the EV battery industry while Tesla and Volkswagen have announced plans to move battery production in-house. 

Top smart meter companies such as Landis+Gyr and Itron complement their smart metering solutions with legacy energy optimization and management software. Diversified technology companies like General Electric and Cisco also provide similar solutions globally.  

Renewables: NextGen Solar, Wind, Hydro
Renewables: NextGen Bioenergy and Sustainable Fuels
Renewables: Third-generation
Energy Storage: Stationary
Energy Storage: Non-stationary
Energy Optimization and Management Software
In House Development
M&A
Partnership
Investment

Notable Investors

No investor data is available

Funding data are powered by Crunchbase
arrow
menuarrow
Unlock company details, featured industry reports, and news updates.
Book a demo

By using this site, you agree to allow SPEEDA Edge and our partners to use cookies for analytics and personalization. Visit our privacy policy for more information about our data collection practices.