New wave · Worldwide
New industrial decarbonisation startups, founded 2020 on
The new wave: 29 industrial decarbonisation startups founded in 2020 or later that have raised money in rounds we track, $1.9B between them, placed in 3 segments.
Funding by segment
- Industrial heat$306M13
- Electrification$455M13
- Steel and metals$1.1B3
Where they are based
- United States15$1.7B
- France4$79M
- Canada2$104M
- Finland1$5.4M
- Germany1$3.7M
- Australia1$2.0M
- United Kingdom1$1.0M
- Sweden1$15M
- Singapore1$10M
- Brazil1$1.8M
United States
France
Canada
Finland
Germany
Australia
United Kingdom
Sweden
Singapore
BrazilFounded
Total raised
- Under $1M1
- $1M to $10M14
- $10M to $50M10
- $50M to $250M2
- $250M to $1B1
- $1B and over1
Each dot is a startup: the year it was founded across, the total it has raised up (each line is ten times the one below). Pick a segment to pick it out.
29 of 29 startups shown; the rest have no founding year or amount on record.
- 1 to 2
- 3 to 7
- 8 to 24
- 25 to 99
- 100 and more
- United States15
- France4
- Canada2
- Finland1
- Germany1
- Australia1
- United Kingdom1
- Sweden1
- Singapore1
- Brazil1
- Ireland1
IrelandStartups by country, 11 countries in all.
Segment by segment
Industrial heat
13 startups · $306M raised
Kanin EnergyKanin Energy is a clean technology developer founded in 2020, focused on industrial decarbonization.Canada$100M
Rondo EnergyRondo Heat Battery powers industrial processes with renewable electricity, cutting energy costs and eliminating emissions.United States$80M
JIMMYJimmy Energy is a French industrial startup founded in 2020, focused on designing and operating thermal generators powered by 4th-France$49M
Karman IndustriesKarman Industries is an industrial energy technology company based in Los Angeles, founded in 2024.United States$20M
Realta FusionRealta Fusion develops fusion energy technology for the production of industrial heat and power.United States$19M
Zero HomesZero Homes is a technology company based in Denver, founded in 2021-2022.United States$17M
TheStorageTheStorage is a Finnish cleantech startup based in Tampere, focused on developing industrial thermal energy storage systems.Finland$5.4M
Cache EnergyCache Energy is a technology startup based in Champaign, Illinois, focused on long-duration energy storage (LDES) and heat electrification.United States$4.0M
Electrification
13 startups · $455M raised
Lunar EnergyLunar Energy is a renewable energy company based in Mountain View, California, founded in 2020.United States$334M
Mitra EVMitra EV offers electric fleet solutions for businesses, focusing on commercial fleet electrification.United States$27M
Decade EnergyDecade Energy develops energy storage, charging, and software solutions that secures power for electric fleets at the lowest possible cost.France$26M
H3X TechnologiesH3X Technologies is an engineering and electric motor manufacturing company based in Louisville, Colorado.United States$20M
SunRoofSunRoof International Holding AB is a Swedish-Polish startup founded in 2013, specializing in innovative home electrification solutions.Sweden$15M
FlipturnFlipturn engages in combat climate change by accelerating transportation electrification.United States$11M
PyxisPyxis is a maritime electrification company based in Singapore, founded in 2022.Singapore$10M
KopperfieldKopperfield is a Seattle-based technology company focused on home electrification.United States$5.0M
Steel and metals
3 startups · $1.1B raised
ElectraElectra is decarbonizing ironmaking for green steel production using intermittent renewable energy and low-grade iron ores.United States$1.1B
Fex EnergyFeX Energy is a Montreal-based clean technology startup founded in 2023, emerging from over 15 years of research.Canada$3.5M
Green Steel EnvironmentalGreen Steel Environmental is a wastewater treatment company located in Boulder, Colorado.United States$1.7M
How this map is made. Every startup here has raised money in rounds we track, and was founded in 2020 or later. It joins the map when its sectors, read from its rounds, or the opening of its own description say it works in industrial decarbonisation, and goes to the first segment whose words it carries. Each segment shows its best-funded first. Rebuilt nightly; updated 15 November 2026.
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