CLEAN ENERGY:
REPORT SUMMARY
SkyVisor
CapeZero
Chapter
Jolt Energy
Gridraven
Enzinc
Synaptec
Skysun
Neara
Funding since 01/09/2024
The startups in this report have raised more than $81 million in venture funding since September 1st 2024.
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LOOKING AHEAD
The expansion of renewable generation capacity has built momentum for several years now, and today solar and wind energy are established technologies. The most impactful innovations we have seen over the last six months, are therefore those that are tackling the parts of the system, beyond generation, that are more challenging. This includes, notably, energy storage and transmission, as well as the regulatory and bureaucratic aspects of the energy transition. We are also seeing more technologies that are designed to keep clean energy assets in good working order.
As both Jacopo Tosoni and Gerry Newton-Cross point out, going forwards, we need to focus on continuing to build flexibility into the system. This will include the development of new and longer-duration energy storage technologies – heavy pieces of infrastructure – but also smart systems at a residential level. As Netwon-Cross puts it: “consumers need to be at the heart of any flexibility solutions.” It will therefore be interesting to observe whether these priorities will be reflected in the solutions that come across the Springwise editorial desk in the coming six months.
We’ll also be looking to see whether the headlines highlighted at the top of this report start being reflected in the language startups use, not to mention the types of startups that get funded. Will we see energy startups ditch the focus on net zero and sustainability in their communications, promoting themselves instead as energy security solutions? Will investors start pivoting towards currently trendy technologies, such as nuclear and geothermal? Enhanced geothermal energy has been slowly building momentum for several years now, but it will be interesting to observe whether new players start entering the market, and if the trickle of project announcements turns into a torrent. All this is set against the backdrop of growing discourse on AI energy consumption that could well shape the trajectory of the energy transition.
It would be easy to create a simple narrative that our current position is a sliding doors moment. Will the focus going forwards be on unglamorous but essential technologies to build the grid and make the most of the renewables that are already being rolled out? Or will attention shift to other, as-yet unscaled technologies like enhanced geothermal or natural hydrogen? The likelihood is that both tracks will continue together, but we might well start to see some material divergences in clean energy innovation between regions.