New and recently funded Energy Startups
1
Country: USA | Funding: $2.5M
Tobe Energy is developing a new class of electrolyzers that split water into hydrogen and oxygen. According to the company, their membrane-free system reduces equipment costs by up to 75% and will reduce heat generation, which is a significant source of inefficiency in traditional systems. This is achieved through the use of advanced power electronics that control a high-voltage, low-current system, new anode and cathode configuration and the elimination of exotic materials. Tobe's electrolyzer is currently in the experimental prototype stage and costs $446 per kilowatt (kW), that is 45% less than the cheapest of other leading electrolysis technologies, such as alkaline, proton-exchange membrane, solid oxide and anion exchange systems.
Tobe Energy is developing a new class of electrolyzers that split water into hydrogen and oxygen. According to the company, their membrane-free system reduces equipment costs by up to 75% and will reduce heat generation, which is a significant source of inefficiency in traditional systems. This is achieved through the use of advanced power electronics that control a high-voltage, low-current system, new anode and cathode configuration and the elimination of exotic materials. Tobe's electrolyzer is currently in the experimental prototype stage and costs $446 per kilowatt (kW), that is 45% less than the cheapest of other leading electrolysis technologies, such as alkaline, proton-exchange membrane, solid oxide and anion exchange systems.
2
Country: UK | Funding: £549.4M
ITM Power designs and manufactures proton-exchange membrane (PEM) electrolyzers for producing clean hydrogen using renewable electricity and tap water. Hydrogen produced by electrolysis is used in the transportation, Power-to-X projects and industrial processes. The company offers electrolyzers with capacities ranging from 2 to 50 MW. The units work with 30-bar pressure. Thanks to its very high current density, the technology reduces footprint and lowers costs. Combined with high conversion efficiency, it provides flexibility for optimizing project capital and operating costs. ITM has already deployed several commercial plants to customers and is using data to measure in-field product performance.
ITM Power designs and manufactures proton-exchange membrane (PEM) electrolyzers for producing clean hydrogen using renewable electricity and tap water. Hydrogen produced by electrolysis is used in the transportation, Power-to-X projects and industrial processes. The company offers electrolyzers with capacities ranging from 2 to 50 MW. The units work with 30-bar pressure. Thanks to its very high current density, the technology reduces footprint and lowers costs. Combined with high conversion efficiency, it provides flexibility for optimizing project capital and operating costs. ITM has already deployed several commercial plants to customers and is using data to measure in-field product performance.
3
Country: Denmark | Funding: $28.4M
Saltfoss is developing a compact modular reactor based on molten fluoride salt (CMSR), installed on a floating power plant. This power plant can produce up to 800 MW whenever and wherever needed, supporting variable renewable energy generation on windless, cloudy days. In the CMSR, fuel is mixed with molten fluoride salt, which also serves as a coolant. This provides significant safety advantages. Unlike conventional nuclear reactors, the Saltfoss reactor operates at near-atmospheric pressure, eliminating a wide range of accident scenarios. At the end of the 24-year fuel cycle, the fuel is returned to the supplier, where the short-lived fission products are separated and stored.
Saltfoss is developing a compact modular reactor based on molten fluoride salt (CMSR), installed on a floating power plant. This power plant can produce up to 800 MW whenever and wherever needed, supporting variable renewable energy generation on windless, cloudy days. In the CMSR, fuel is mixed with molten fluoride salt, which also serves as a coolant. This provides significant safety advantages. Unlike conventional nuclear reactors, the Saltfoss reactor operates at near-atmospheric pressure, eliminating a wide range of accident scenarios. At the end of the 24-year fuel cycle, the fuel is returned to the supplier, where the short-lived fission products are separated and stored.
4
Country: USA
Calectra creates thermal batteries for heavy industry that provide high-temperature heating for industrial processes. The Calectra thermal battery can be installed in existing production facilities. It is charged with electricity during low-cost hours, 4 to 8 hours per day (electric current passes through a ceramic material, which converts electricity into heat at 1800°C and accumulates it). The battery stores heat for several days in ceramic blocks and releases it when needed: air or another gas passes through the battery, which is then fed into the process at a constant, selected temperature of up to 1600°C. Calectra can replace fossil fuel burners or operate in parallel with them for maximum flexibility and fuel reliability.
Calectra creates thermal batteries for heavy industry that provide high-temperature heating for industrial processes. The Calectra thermal battery can be installed in existing production facilities. It is charged with electricity during low-cost hours, 4 to 8 hours per day (electric current passes through a ceramic material, which converts electricity into heat at 1800°C and accumulates it). The battery stores heat for several days in ceramic blocks and releases it when needed: air or another gas passes through the battery, which is then fed into the process at a constant, selected temperature of up to 1600°C. Calectra can replace fossil fuel burners or operate in parallel with them for maximum flexibility and fuel reliability.
5
Country: Canada
Kanin Energy implements waste heat-to-electricity and other decarbonization projects for heavy industry. The company designs, finances and operates these projects on a turnkey basis. Its waste heat recovery systems capture heat generated during industrial processes to generate electricity or thermal energy using various technologies: organic Rankine cycle (which converts thermal energy into mechanical work through the continuous evaporation and condensation of a circulating working fluid), steam Rankine cycle (similar to the organic Rankine cycle, but using steam as the working fluid), Brayton cycle (based on the supercritical compression/expansion of CO2), and Kalin cycle (using a binary mixture of two working fluids, typically water and ammonia).
Kanin Energy implements waste heat-to-electricity and other decarbonization projects for heavy industry. The company designs, finances and operates these projects on a turnkey basis. Its waste heat recovery systems capture heat generated during industrial processes to generate electricity or thermal energy using various technologies: organic Rankine cycle (which converts thermal energy into mechanical work through the continuous evaporation and condensation of a circulating working fluid), steam Rankine cycle (similar to the organic Rankine cycle, but using steam as the working fluid), Brayton cycle (based on the supercritical compression/expansion of CO2), and Kalin cycle (using a binary mixture of two working fluids, typically water and ammonia).
6
Country: USA | Funding: $1.5B
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its sodium-cooled fast reactor, Natrium has capacity up to 345 MW, has a molten salt heat storage system and uses innovative liquid metal cooling. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (although the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
TerraPower is developing compact modular nuclear reactors with a closed fuel cycle. Its goal is to make nuclear energy safer and cheaper, while also minimizing radioactive waste. It was co-founded by Bill Gates and partners with GE Hitachi Nuclear Energy. Its sodium-cooled fast reactor, Natrium has capacity up to 345 MW, has a molten salt heat storage system and uses innovative liquid metal cooling. Its advantage is its flexible power output, allowing it to respond to fluctuating demand when combined with renewable energy sources. It uses liquid sodium as a coolant and highly enriched uranium (HALEU) as fuel (although the company is experiencing supply issues). The demonstration reactor project is expected to be operational by 2030.
7
Country: USA | Funding: $798.3M
Electric Hydrogen develops electrolyzer technologies to enable abundant, low-cost, and clean hydrogen to replace fossil fuels.
Electric Hydrogen develops electrolyzer technologies to enable abundant, low-cost, and clean hydrogen to replace fossil fuels.
8
Country: USA | Funding: $532M
Lunar Energy manufactures battery storage systems and installs solar panels for homeowners in California, Georgia, and Washington. Lunar can use its fleet of batteries, available in 15- and 30-kilowatt-hour modules, to feed power into the grid as needed. Its virtual power plant (VPP) software can also manage electric vehicle chargers and appliances, allowing for simultaneous power supply and demand reduction. Lunar helps users save money - each day, the app creates a unique plan for maximum energy savings. The company monitors the weather, monitors power consumption spikes, such as when charging your electric vehicle and uses this data to develop this personalized daily plan. Lunar AI tracks rapidly changing energy prices, optimizing and automating home power system to reduce bills.
Lunar Energy manufactures battery storage systems and installs solar panels for homeowners in California, Georgia, and Washington. Lunar can use its fleet of batteries, available in 15- and 30-kilowatt-hour modules, to feed power into the grid as needed. Its virtual power plant (VPP) software can also manage electric vehicle chargers and appliances, allowing for simultaneous power supply and demand reduction. Lunar helps users save money - each day, the app creates a unique plan for maximum energy savings. The company monitors the weather, monitors power consumption spikes, such as when charging your electric vehicle and uses this data to develop this personalized daily plan. Lunar AI tracks rapidly changing energy prices, optimizing and automating home power system to reduce bills.
9
Country: USA | Funding: $1B
Helion Energy uses fusion energy to provide pure, safe electricity. Helion's fusion generator elevates fusion (Deuterium and helium-3) fuel to ultra-high temperatures to achieve plasma conditions and directly obtains electricity with a high-efficiency pulsed approach. Magnets confine the plasma in a Field Reversed Configuration (FRC) and speed up two FRCs to 1 million mph from opposite ends of the generator. When the FRCs collide in the center of the system, they are further compressed by a strong magnetic field until they reach fusion temperatures greater than 100M degrees Celsius (150M already achieved). At this temperature, the deuterium and helium-3 ions are moving fast enough to surpass the forces that would otherwise keep them apart, and they fuse. This emits more energy than is consumed by the fusion process. As new fusion energy is generated, the plasma enlarges.
Helion Energy uses fusion energy to provide pure, safe electricity. Helion's fusion generator elevates fusion (Deuterium and helium-3) fuel to ultra-high temperatures to achieve plasma conditions and directly obtains electricity with a high-efficiency pulsed approach. Magnets confine the plasma in a Field Reversed Configuration (FRC) and speed up two FRCs to 1 million mph from opposite ends of the generator. When the FRCs collide in the center of the system, they are further compressed by a strong magnetic field until they reach fusion temperatures greater than 100M degrees Celsius (150M already achieved). At this temperature, the deuterium and helium-3 ions are moving fast enough to surpass the forces that would otherwise keep them apart, and they fuse. This emits more energy than is consumed by the fusion process. As new fusion energy is generated, the plasma enlarges.
10
Country: France | Funding: €3M
EPYR creates industrial power systems that convert electricity from renewable energy sources into high-temperature heat. These are comprehensive solutions integrate equipment, intelligent energy management and financing. The Epyr system captures electricity from the grid at its lowest cost and converts it into heat using resistive heaters. Thermal energy is stored in high-efficiency refractory bricks and released as air or steam on demand for industrial processes. Thanks to fast and precise control, the system is easily integrated into production processes. Epyr also offers a "heat-as-a-service" model that requires no upfront capital investment - the company builds, owns and operates the system for an annual fee.
EPYR creates industrial power systems that convert electricity from renewable energy sources into high-temperature heat. These are comprehensive solutions integrate equipment, intelligent energy management and financing. The Epyr system captures electricity from the grid at its lowest cost and converts it into heat using resistive heaters. Thermal energy is stored in high-efficiency refractory bricks and released as air or steam on demand for industrial processes. Thanks to fast and precise control, the system is easily integrated into production processes. Epyr also offers a "heat-as-a-service" model that requires no upfront capital investment - the company builds, owns and operates the system for an annual fee.
