⚡️Watt's next in EnergyTech

59 stealth to Series A energy startups to watch, according to 17 VCs

In a world still largely powered by fossil fuels, it’s no secret that traditional energy sources remain the biggest polluters.

Yet, the momentum towards a carbon-free energy system is picking up pace, with Deep Tech at its core.

Just last week energy startups raised $940+ million for:

  • Pulsed magnetic fusion system (Pacific Fusion)

  • AI-driven grid predictability and flexibility (Flower)

  • Platinum-free materials for electrolysers (Matteco)

  • Plasma-based carbon capture and fuel production (SpiralWave)

  • An electrolyser stack technology for green hydrogen (Hystar AS)

However, the pace of investment still lags behind what's needed. To hit net zero by 2050, clean energy funding must more than triple, to around $4 trillion annually by 2030.

But the good news is, there are over 72,000 energy-related startups stepping up to the challenge.

And to hone in on emerging talents, we asked 17 VCs who are the ‘ones to watch’. Scroll on to hear their picks.

Plus read on to hear why we need to create a new market mechanism to fund energy transition projects, and how this Andreessen Hororowitz-backed startup is making it happen.

🔋 VC Opinion // 59 Top Energy Startups to Know

To uncover some of the hottest names in EnergyTech, we caught up with 17 VCs who are actively investing in Energy and have a strong track record of funding advancements in grid modernization, battery tech, renewables and carbon-free fuels.

From climate risk modelling and renewable energy tracking and trading, to stellarator fusion power plants and battery reuse and recycling, the 59 hand-picked startups span 22 countries, each with a unique approach to tackling the net zero energy transition.

Hear from investors at Climentum Capital, Planet A Ventures, AENU, Lightrock, SET Ventures, InMotion Ventures, Clima Now, Energy Capital Ventures, Future Energy Ventures, DeepTech & Climate Fonds, UVC Partners + 6 more.

⚡️ Interview // Funding Energy Transition Projects

Clean energy development is on the rise, but we urgently need to make sustainable finance more efficient to move as quickly as needed.

Meet Crux. Founded by Alfred Johnson and Allen Kramer, who are building technology infrastructure to make it easier and more efficient for buyers, sellers, and intermediaries (like banks, brokers, and advisors) to take advantage of the enormous opportunities now available to them in the transferable tax credit market. 

And they’ve raised $27 million in funding to date, including a $18.2 million Series A led by Andreessen Horowitz, along with Lowercarbon Capital, Overture and New System Ventures to spur the company’s early growth.

Next up: Alfred joins us live on stage at the HackSummit with Lowercarbon Capital’s Clay Dumas for an intimate fireside chat to discuss what it’s going to take to move the needle on efficient finance for the energy transition.

📣 HackSummit // New Speakers Announced

The HackSummit will host 100s of rising talents and investors behind their breakthrough technologies. And our 3 newest speakers are set to share unfiltered insights from their journeys in impact.

Cyrus Wadia, CEO of Activate

As a sustainability leader at Amazon and Nike, White House science advisor, Silicon Valley entrepreneur, and MIT-trained scientist, Cyrus has spent the last two decades scaling innovation and sustainability. Now, as Activate CEO, he helps visionary scientists scale their innovations and impact.

Etosha Cave, Co-Founder and CSO of Twelve

After studying the electrochemical conversion of CO2 and water into various chemicals such as ethanol, methane, and carbon monoxide, Etosha is now working to spin-off the technology into industry by recycling carbon dioxide and water into higher-valued products - such as jet fuel - using metal catalysts, and electricity. 

Augustus Doricko, CEO of Rainmaker

Working to solve the problem of drought, Augustus founded Rainmaker to provide water for farms, watersheds, and ecosystems using cloud seeding and weather modification technologies with an immediate, scalable solution to create abundant freshwater.

Keep an eye out for many more Mavericks set to join us at the HackSummit next month in New York.

You’ll find yourself in great company as new names and familiar faces come together at Newlab. And good news, there’s still time to get your pass and join us.

See you in New York

Laura at Hack