What are the most valued startups in the climate tech market?

Last updated: 13 March 2026

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This is our continuously updated ranking of the 100 most valuable startups in the climate tech market, sorted by current valuation.

We refresh this list every month using a structured methodology that combines announced funding rounds, public filings, and comparable company analysis.

Each climate tech startup is assigned a valuation range along with a confidence level that reflects how reliable the underlying data is.

And if you want to better understand this new industry, you can download our pitch covering the climate tech market.

A quick summary table

Most valuable climate tech startup Crusoe Energy Systems ($10.0B)
Second most valuable climate tech startup Commonwealth Fusion Systems ($5.8B–$8.5B)
Median climate tech startup valuation ~$1.2B
Share of total climate tech valuation held by the top 10 ~36%
Top climate tech valuation vs. median ~8x
Median valuation-to-capital-raised ratio ~2x
Climate tech startups valued at $1B+ ~55
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Top startups in the climate tech market ranked by valuation

Here is an updated table that ranks the top startups in the climate tech market based on their latest reported or estimated valuations.

If you want more detaild about their fundraising activity, you can check our list of the startups who have raised the most funding in the climate tech market.

# Startup Name What They Do Current Valuation ($) Valuation Confidence Level Valuation Type Evidence Status Total Funding ($) Funding Confidence Level
1 Crusoe Energy Systems Energy-first AI cloud infrastructure $10.0B Full Confidence Announced Private Round Valuation Observed $700M Full Confidence
2 Commonwealth Fusion Systems Fusion power developer $5.8B–$8.5B Partial Confidence Implied Valuation from Raise Implied $3.0B Partial Confidence
3 GoodLeap Sustainable home finance platform $5.5B–$7.0B Partial Confidence Revenue or ARR Multiple Estimate Estimated $1.6B Partial Confidence
4 Redwood Materials Battery recycling and materials $6.0B–$6.3B Strong Confidence Announced Private Round Valuation Observed $2.2B Strong Confidence
5 TAE Technologies Fusion power systems $5.5B–$6.5B Partial Confidence IPO or Listing Range Valuation Observed $1.4B Partial Confidence
6 Octopus Energy Clean energy retailer and software $5.5B–$6.5B Partial Confidence Proxy-Based Estimate Estimated $2.5B Partial Confidence
7 TerraPower Advanced nuclear reactor developer $5.0B–$6.5B Strong Confidence Implied Valuation from Raise Implied $1.5B Strong Confidence
8 Helion Energy Fusion electricity developer $5.3B–$5.6B Strong Confidence Announced Private Round Valuation Observed $975M Strong Confidence
9 BETA Technologies Electric aircraft and chargers $4.6B Full Confidence Public Market Cap Observed $2.1B Full Confidence
10 SVOLT EV battery maker $3.8B–$5.0B Partial Confidence Comparables-Based Estimate Estimated $3.1B Partial Confidence
11 Hithium Energy storage batteries and systems $3.8B–$5.0B Partial Confidence IPO or Listing Range Valuation Estimated $621M Partial Confidence
12 Sunwoda Electric Vehicle Battery EV battery systems $4.0B–$4.8B Partial Confidence IPO or Listing Range Valuation Estimated $1.6B Partial Confidence
13 Group14 Technologies Silicon battery anode materials $3.8B–$4.8B Strong Confidence Implied Valuation from Raise Implied $1.1B Strong Confidence
14 Sila Nanotechnologies Silicon battery materials $3.0B–$4.2B Partial Confidence Implied Valuation from Raise Implied $1.3B Partial Confidence
15 Form Energy Multi-day iron-air batteries $3.2B–$3.6B Strong Confidence Announced Private Round Valuation Observed $1.2B Strong Confidence
16 KoBold Metals AI mineral exploration $3.0B–$3.6B Strong Confidence Announced Private Round Valuation Implied $945M Strong Confidence
17 Fervo Energy Enhanced geothermal power developer $2.0B–$4.0B Partial Confidence IPO or Listing Range Valuation Estimated $979M Partial Confidence
18 Verkor Low-carbon battery manufacturing $2.4B–$3.0B Partial Confidence Comparables-Based Estimate Estimated $1.0B Partial Confidence
19 Enpal Residential solar and home energy $2.2B–$2.8B Strong Confidence Revenue or ARR Multiple Estimate Estimated $409M Strong Confidence
20 Stegra Green hydrogen steelmaker $2.0B–$3.0B Low Confidence Active Raise Valuation Estimated $2.3B Low Confidence
21 Svante Carbon capture filter systems $1.8B–$2.8B Partial Confidence Implied Valuation from Raise Implied $477M Partial Confidence
22 Inari Gene-edited crop seeds $2.1B–$2.4B Strong Confidence Announced Private Round Valuation Observed $723M Strong Confidence
23 Mainspring Energy Linear onsite power generators $1.8B–$2.6B Strong Confidence Implied Valuation from Raise Implied $726M Strong Confidence
24 OCSiAl Graphene nanotube materials $1.9B–$2.2B Strong Confidence Announced Private Round Valuation Observed $5M Strong Confidence
25 Solugen Carbon-negative industrial chemicals $1.8B–$2.3B Partial Confidence Proxy-Based Estimate Estimated $593M Partial Confidence
26 Pivot Bio Microbial nitrogen fertilizer $1.8B–$2.2B Partial Confidence Proxy-Based Estimate Estimated $618M Partial Confidence
27 Electric Hydrogen Industrial green hydrogen plants $1.5B–$2.3B Strong Confidence Implied Valuation from Raise Implied $602M Strong Confidence
28 Huasun HJT solar manufacturer $1.7B–$2.0B Partial Confidence Revenue or ARR Multiple Estimate Estimated $626M Partial Confidence
29 Apeel Sciences Produce shelf-life coatings $1.5B–$2.0B Low Confidence Proxy-Based Estimate Estimated $609M Low Confidence
30 SFCC Hydrogen fuel cell systems $1.5B–$1.8B Partial Confidence Announced Private Round Valuation Estimated $648M Partial Confidence
31 Sunfire Industrial green hydrogen systems $1.5B–$1.8B Partial Confidence Proxy-Based Estimate Estimated $502M Partial Confidence
32 TeraWatt Infrastructure Fleet EV charging infrastructure $1.3B–$2.0B Partial Confidence Proxy-Based Estimate Estimated $1.1B Partial Confidence
33 Ascend Elements Battery recycling materials $1.3B–$1.9B Strong Confidence Implied Valuation from Raise Implied $924M Strong Confidence
34 Gokin Solar Solar wafers and modules $1.4B–$1.8B Partial Confidence Comparables-Based Estimate Estimated $613M Partial Confidence
35 ROX Motor Luxury range-extended SUVs $1.3B–$1.8B Partial Confidence Comparables-Based Estimate Estimated $1.5B Partial Confidence
36 Twelve CO2-to-fuels and chemicals $1.2B–$1.8B Partial Confidence Implied Valuation from Raise Implied $387M Partial Confidence
37 ZeroAvia Hydrogen-electric aircraft powertrains $1.3B–$1.6B Strong Confidence Implied Valuation from Raise Implied $274M Strong Confidence
38 Arcadia Utility data and community solar $1.3B–$1.6B Partial Confidence Proxy-Based Estimate Estimated $432M Partial Confidence
39 Uplight Utility software and load flexibility $1.3B–$1.6B Low Confidence Proxy-Based Estimate Estimated $30M Low Confidence
40 Fox ESS Inverters and home storage $1.3B–$1.5B Strong Confidence IPO or Listing Range Valuation Observed $141M Strong Confidence
41 Star Charge EV charging hardware and software $1.1B–$1.6B Partial Confidence IPO or Listing Range Valuation Estimated $126M Partial Confidence
42 StoreDot Extreme fast-charging EV batteries $1.2B–$1.5B Partial Confidence Proxy-Based Estimate Estimated $226M Partial Confidence
43 Heirloom Direct air capture systems $1.1B–$1.5B Strong Confidence Implied Valuation from Raise Implied $203M Strong Confidence
44 TELD EV charging network operator $1.1B–$1.5B Partial Confidence Comparables-Based Estimate Estimated $238M Partial Confidence
45 1Komma5° Home electrification platform $1.1B–$1.4B Strong Confidence Revenue or ARR Multiple Estimate Estimated $409M Strong Confidence
46 NotCo AI-driven plant-based foods $1.1B–$1.4B Partial Confidence Revenue or ARR Multiple Estimate Estimated $423M Partial Confidence
47 Greater Bay Technology Fast-charging EV batteries $1.1B–$1.4B Partial Confidence Announced Private Round Valuation Estimated $150M Partial Confidence
48 Electra Clean iron for steelmaking $1.0B–$1.4B Strong Confidence Implied Valuation from Raise Implied $271M Strong Confidence
49 Xpansiv Environmental commodities marketplace $1.1B–$1.3B Strong Confidence Comparables-Based Estimate Estimated $700M Strong Confidence
50 Climeworks Direct air carbon removal $1.0B–$1.4B Partial Confidence Implied Valuation from Raise Implied $923M Partial Confidence
51 Impossible Foods Plant-based meat alternatives $1.0B–$1.4B Partial Confidence Comparables-Based Estimate Estimated $1.8B Partial Confidence
52 OLA Electric Electric scooters and batteries $1.2B Full Confidence Public Market Cap Observed $1.5B Full Confidence
53 Einride Electric autonomous freight $1.0B–$1.2B Strong Confidence IPO or Listing Range Valuation Implied $465M Strong Confidence
54 Aira Heat pumps and home energy $900M–$1.3B Strong Confidence Revenue or ARR Multiple Estimate Estimated $263M Strong Confidence
55 newcleo Advanced small nuclear reactors $900M–$1.3B Strong Confidence Implied Valuation from Raise Implied $513M Strong Confidence
56 Prometheus Fuels Air-to-fuel electrofuels $800M–$1.4B Low Confidence Proxy-Based Estimate Estimated $13M Low Confidence
57 Yuze Semiconductor N-type solar wafers $950M–$1.2B Partial Confidence Announced Private Round Valuation Estimated $296M Partial Confidence
58 Perfect Day Animal-free dairy proteins $900M–$1.2B Partial Confidence Revenue or ARR Multiple Estimate Estimated $765M Partial Confidence
59 ProLogium Solid-state EV batteries $900M–$1.2B Partial Confidence Proxy-Based Estimate Estimated $326M Partial Confidence
60 Palmetto Residential clean energy platform $900M–$1.2B Partial Confidence Revenue or ARR Multiple Estimate Estimated $670M Partial Confidence
61 Spiber Biofabricated protein materials $900M–$1.1B Partial Confidence Comparables-Based Estimate Estimated $255M Partial Confidence
62 Our Next Energy EV and storage batteries $850M–$1.1B Partial Confidence Announced Private Round Valuation Implied $390M Partial Confidence
63 Electra.aero Ultra-short hybrid-electric aircraft $800M–$1.1B Strong Confidence Implied Valuation from Raise Implied $115M Strong Confidence
64 Newlight Carbon-negative biomaterials $800M–$1.1B Partial Confidence Revenue or ARR Multiple Estimate Estimated $170M Partial Confidence
65 Turntide Technologies Efficient motors and power electronics $800M–$1.0B Partial Confidence Comparables-Based Estimate Estimated $218M Partial Confidence
66 Boston Metal Green steel electrolysis technology $750M–$950M Partial Confidence Proxy-Based Estimate Estimated $352M Partial Confidence
67 CarbonCure CO2 mineralized concrete technology $700M–$900M Partial Confidence Implied Valuation from Raise Implied $91M Partial Confidence
68 UPSIDE Foods Cultivated meat producer $700M–$900M Partial Confidence Comparables-Based Estimate Estimated $606M Partial Confidence
69 OVO Energy UK energy supplier platform $700M–$900M Partial Confidence Proxy-Based Estimate Estimated $561M Partial Confidence
70 LanzaJet Sustainable aviation fuel technology $650M–$785M Strong Confidence Active Raise Valuation Observed $125M Strong Confidence
71 Heart Aerospace Hybrid-electric regional aircraft $600M–$900M Partial Confidence Implied Valuation from Raise Implied $144M Partial Confidence
72 LIVEKINDLY Plant-based food platform $650M–$850M Partial Confidence Comparables-Based Estimate Estimated $535M Partial Confidence
73 HysetCo Hydrogen mobility and refueling $650M–$850M Partial Confidence Implied Valuation from Raise Implied $217M Partial Confidence
74 Charm Industrial Bio-oil carbon removal $600M–$850M Partial Confidence Implied Valuation from Raise Implied $125M Partial Confidence
75 Amarenco Solar IPP and storage $600M–$850M Low Confidence Comparables-Based Estimate Estimated $515M Low Confidence
76 H55 Electric aircraft propulsion systems $450M–$700M Partial Confidence Implied Valuation from Raise Implied $74M Partial Confidence
77 Oxford PV Perovskite-silicon tandem solar $400M–$700M Partial Confidence Comparables-Based Estimate Estimated $145M Partial Confidence
78 CarbonCapture Direct air capture modules $450M–$650M Partial Confidence Implied Valuation from Raise Implied $115M Partial Confidence
79 Sublime Systems Low-carbon cement technology $400M–$600M Partial Confidence Proxy-Based Estimate Estimated $115M Partial Confidence
80 Infinium Ultra-low-carbon e-fuels $350M–$550M Partial Confidence Proxy-Based Estimate Estimated $69M Partial Confidence
81 Nature's Fynd Fungi-based protein foods $300M–$600M Partial Confidence Comparables-Based Estimate Estimated $463M Partial Confidence
82 Mosa Meat Cultivated beef producer $250M–$350M Partial Confidence Proxy-Based Estimate Estimated $158M Partial Confidence
83 H2Pro Green hydrogen electrolysers $220M–$380M Low Confidence Comparables-Based Estimate Estimated $105M Low Confidence
84 Brimstone Decarbonized cement and alumina $200M–$350M Partial Confidence Proxy-Based Estimate Estimated $80M Partial Confidence
85 WM Motor Electric vehicles $150M–$300M Low Confidence Proxy-Based Estimate Estimated $4.6B Low Confidence
86 Monolith Clean hydrogen and carbon black $120M–$180M Partial Confidence Comparables-Based Estimate Estimated $300M Partial Confidence
87 AIWAYS Electric passenger vehicles $80M–$180M Low Confidence Proxy-Based Estimate Estimated $486M Low Confidence
88 Hozon Auto Electric vehicles $50M–$150M Low Confidence Proxy-Based Estimate Estimated $3.5B Low Confidence
89 Infarm Vertical farming assets $44M Full Confidence Acquisition Value Observed $229M Full Confidence
90 Clean Planet Fusion-based clean energy $20M–$40M Partial Confidence Implied Valuation from Raise Implied $3M Partial Confidence
91 Bowery Farming Indoor vertical farming $0M–$40M Low Confidence Proxy-Based Estimate Estimated $562M Low Confidence
92 Plenty Indoor vertical farming $20M–$40M Low Confidence Proxy-Based Estimate Estimated $941M Low Confidence
93 Ample EV battery swapping $10M–$25M Low Confidence Proxy-Based Estimate Estimated $305M Low Confidence
94 First Mode Mining decarbonization systems $15M–$18M Strong Confidence Acquisition Value Observed $200M Strong Confidence
95 Rad Power Bikes Direct-to-consumer e-bikes $15M Full Confidence Acquisition Value Observed $329M Full Confidence
96 Volocopter Electric air taxi developer $11M Full Confidence Acquisition Value Observed $726M Full Confidence
97 Northvolt EV battery maker $0M–$20M Low Confidence Proxy-Based Estimate Estimated $5.7B Low Confidence
98 Nexii Building Solutions Low-carbon prefab construction $3M–$8M Low Confidence Acquisition Value Observed $80M Low Confidence
99 Enovate Motors Electric vehicle maker $0M–$10M Strong Confidence Proxy-Based Estimate Estimated $1.0B Strong Confidence
100 Meati Foods Mycelium-based meat alternatives $4M Full Confidence Acquisition Value Observed $328M Full Confidence
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In our climate tech market deck, we provide the data and the context to understand it

Key valuation trends in the climate tech market

OCSiAl reached a roughly $2.0B valuation on just $5M in total funding. That is an approximately 400x capital-to-valuation ratio, which makes OCSiAl the most capital-efficient climate tech startup in the entire dataset by a wide margin.

Volocopter raised $726M and was ultimately acquired for just $11M. That represents a 98.5% loss of invested capital, making Volocopter the single largest confirmed capital destruction event among all climate tech startups tracked here.

Five climate tech companies (Volocopter, Rad Power Bikes, Meati Foods, First Mode, and Enovate Motors) collectively raised $2.3B yet now carry combined valuations below $55M. That translates to over 97% capital destruction across the group.

Battery materials and recycling leaders (Redwood Materials, Group14 Technologies, and Ascend Elements) hold combined midpoint valuations near $12B on $4.2B of aggregate funding. Battery materials represent the densest value cluster in the climate tech market today.

Among climate tech startups valued above $1B, the median total funding is approximately $700M. However, four companies (Fox ESS, Electra.aero, Heirloom, and Electra) each reached unicorn-implied territory on less than $275M raised, showing that capital efficiency varies enormously even among billion-dollar climate tech startups.

Electra reached an implied $1.0B to $1.4B valuation on just $271M raised for clean iron steelmaking. Electra's trajectory suggests investors see heavy-industry decarbonization as a viable unicorn pathway with relatively modest early capital.

Inari's $2.1B to $2.4B valuation on $723M makes gene-edited agriculture the only ag-biotech subsector to sustain a multi-billion-dollar valuation in this dataset. Inari outperforms every alternative-protein climate tech company on that metric.

LanzaJet disclosed an explicit $650M pre-money valuation on only $125M in total funding. That gives sustainable aviation fuel one of the highest valuation-to-funding ratios among climate tech companies with observed pricing evidence.

Insights

  • OCSiAl turned just $5M in funding into a ~$2B climate tech valuation, delivering an approximately 400x capital-to-valuation ratio that no other startup in the dataset comes close to matching.
  • Volocopter raised $726M and sold for $11M, a 98.5% loss that stands as the single largest confirmed capital destruction event among climate tech startups.
  • Battery recycling and materials startups (Redwood Materials, Group14, Ascend Elements) hold a combined ~$12B in value on $4.2B raised, making battery materials the most concentrated value cluster in the climate tech market.
  • Four climate tech unicorns (Fox ESS, Electra.aero, Heirloom, Electra) each crossed the $1B threshold on less than $275M in funding, while the median unicorn in the dataset raised ~$700M.
  • Electra reached a $1.0B+ implied valuation on $271M for clean iron steelmaking, signaling that heavy-industry decarbonization can reach unicorn scale with relatively lean capital.
  • Inari holds a $2.1B to $2.4B valuation, making gene-edited agriculture the only ag-biotech segment to sustain a multi-billion-dollar climate tech valuation in this ranking.
  • LanzaJet disclosed a $650M pre-money valuation on just $125M raised, giving sustainable aviation fuel one of the strongest valuation-to-funding ratios among climate tech startups with observed pricing.
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In our climate tech market deck, we identify repeatable patterns you can use if you’re building in this market

A few word about our methodology

As you can see, we built a database that ranks startups in the climate tech market based on their current valuation.

Estimating climate tech startup valuations is not always straightforward. Many climate tech companies do not publicly disclose their valuation, and the available information can vary widely depending on the company and its stage.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed climate tech companies, or official acquisition prices.

When a climate tech startup is publicly listed, we use its current market capitalization as the reference valuation.

If a company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a climate tech startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that stage of fundraising.

In some cases, we also estimate valuations using operating metrics such as revenue, ARR, or customer traction, combined with valuation multiples from comparable companies in the climate tech market.

When direct financial data is not available, we may rely on carefully selected comparable climate tech startups and other signals such as hiring growth, investor quality, or product traction.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because valuation data is not always fully public, each climate tech startup in the ranking is assigned a confidence level based on the reliability, recency, and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.

This reflects how we conduct all our research, including the work behind our report covering the climate tech market.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

market growth rate cagrclimate tech market

In our climate tech market deck, we answer all the common questions from investors and entrepreneurs

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