The EnergyTech Stack

European battery manufacturer producing sustainable lithium-ion batteries for electric vehicles and energy storage.

X-Energy is a publicly traded nuclear energy company. IPOd April 23, 2026 at approximately $7.5B valuation. The company is the leading US developer of small modular reactors (SMRs). Amazon is a key backer.

Climeworks is the Swiss direct air capture company removing CO2 from the atmosphere at industrial scale — the category leader in carbon removal technology. Valued at $2B with $600M+ raised, Climeworks has delivered permanent carbon removal for 1,000+ customers including Microsoft, Shopify, and the Swiss government. Major climate tech IPO candidate as the voluntary carbon market and corporate net-zero commitments drive demand for verified carbon removal at gigaton scale.

EV battery recycling company recovering lithium, cobalt, and nickel to build closed-loop battery supply chains.

Form Energy is the long-duration energy storage company building multi-day iron-air batteries that can store renewable energy for up to 100 hours — solving the intermittency problem of solar and wind. Valued at $3.4B with $800M raised, Form Energy has signed contracts with major utilities including Xcel Energy and Georgia Power. Major energytech IPO candidate as long-duration storage becomes critical for 100% renewable energy grids globally.

Solid-state lithium-metal battery company developing next-generation EV batteries.

AI-driven molecular design and manufacturing of novel polymers and composites for hypersonics, missile defense, space, and advanced aerospace applications [mdash] compressing material discovery from decades to months.

Enterprise carbon management platform helping companies measure, reduce, and report their emissions.

Green hydrogen electrolyzer company making clean hydrogen production cost-competitive with fossil fuels.

Sila Nanotechnologies develops next-generation battery materials using silicon-based anode technology to deliver 20-40% more energy density than traditional lithium-ion batteries. Valued at $3.3B with $1B+ raised, Sila has a manufacturing partnership with Samsung SDI and is targeting EV manufacturers and consumer electronics companies. Major energytech IPO candidate as next-generation battery materials become critical for EV range improvements and grid storage at scale.

Ascend Elements is the battery recycling and materials company building the domestic supply chain for critical battery materials, converting spent lithium-ion batteries into new cathode materials using hydrometallurgical processing. Valued at 1B USD with 700M raised, Ascend operates the largest lithium-ion battery recycling facility in North America. Major energytech IPO candidate as domestic battery supply chains become critical for US EV manufacturing and grid storage.

Industrial heat storage company using cheap renewable electricity to decarbonize industrial processes.

Arcadia is the clean energy management platform connecting homeowners, renters, and businesses to rooftop solar, community solar, and energy efficiency programs — the operating system for the energy transition. Valued at $1.5B with $350M raised, Arcadia serves 1M+ households across 40+ US states. Major energytech IPO candidate as solar and energy management adoption accelerates under the Inflation Reduction Act incentives and rising electricity prices.

Turntide Technologies builds high-efficiency electric motors for commercial vehicles and buildings — replacing fossil fuel combustion engines with software-defined electric drivetrains that reduce energy consumption by 30-50%. Valued at $1B with $300M raised, Turntide serves commercial fleet operators, transit agencies, and building operators globally. Major energytech IPO candidate as electrification of transportation and buildings becomes a $1T+ global market.

Verdagy builds electrolyzer technology for producing green hydrogen at industrial scale, using electricity and water to produce carbon-free hydrogen for heavy industry, transportation, and chemical manufacturing. Valued at 400M USD with 100M raised, Verdagy is scaling its electrolyzer stacks for multi-MW deployments at industrial sites. Major energytech IPO candidate as green hydrogen production scales to meet demand from hard-to-electrify industries.

Pioneer in direct air capture technology, acquired by Occidental Petroleum to scale carbon removal at industrial levels.

Twelve (formerly Twelve AI) uses CO2 as a raw material to create chemicals, fuels, and materials through electrochemical processes powered by renewable electricity — transforming carbon emissions into useful products. Valued at $800M with $200M raised, Twelve has commercial agreements with major airlines and chemical companies to produce sustainable aviation fuel and CO2-derived chemicals. Major energytech IPO candidate as carbon utilization and CO2 conversion becomes a $50B+ market under corporate net-zero mandates.

Koloma is a geologic hydrogen company that identifies and extracts naturally occurring hydrogen deposits from the Earth's crust to provide a low-cost, carbon-free energy source.

Dandelion Energy enables residential geothermal heating and cooling, helping homeowners replace gas furnaces and AC with ground-source heat pump systems that run on 100% renewable energy. Valued at 200M USD with 100M raised, Dandelion has installed thousands of geothermal systems across the US Northeast. Major energytech IPO candidate as home heating electrification becomes critical for achieving residential net-zero emissions targets.

Long-duration energy storage company using gravity-based systems to store and discharge renewable energy.