# Business Growth Fund's Energy Investments: 11 Startups in Its Portfolio (2026) > The 11 Energy startups Business Growth Fund has backed, by stage: $912M raised between them. From the rounds we track; updated nightly. Source: https://millionrounds.com/portfolio-maps/bgf-energy-portfolio (Millionrounds; every figure on the page links to its filing or article) ## Stage not reported 7 - [3Sun](https://millionrounds.com/company/3sun) - [Sunswap](https://millionrounds.com/company/sunswap) - [Echion Technologies](https://millionrounds.com/company/echion-technologies) - [Cold Bore Technology](https://millionrounds.com/company/cold-bore-technology) - [STATS Group](https://millionrounds.com/company/stats-group) - [Spex Group](https://millionrounds.com/company/spex-group) - [Cheesecake Energy](https://millionrounds.com/company/cheesecake-energy) ## Series A 2 - [Gaussion](https://millionrounds.com/company/gaussion) - [ACELERON](https://millionrounds.com/company/aceleron) ## Growth 2 - [Revive Active](https://millionrounds.com/company/revive-active) - [M-Flow Technologies](https://millionrounds.com/company/m-flow-technologies) ## Segment by segment ### Stage not reported 7 startups · $837M raised - [**3Sun**](https://millionrounds.com/company/3sun) 3Sun is an energy management company that specializes in designing photovoltaic solutions for large-scale industries and roof application. Italy $608M - [**Sunswap**](https://millionrounds.com/company/sunswap) Sunswap is a British manufacturer specializing in fully electric, battery and solar-powered transport refrigeration units. United Kingdom $106M - [**Echion Technologies**](https://millionrounds.com/company/echion-technologies) Echion Technologies is a leading battery technology company based in Cambridge, UK. United Kingdom $84M - [**Cold Bore Technology**](https://millionrounds.com/company/cold-bore-technology) Cold Bore Technology is a privately held company based in Calgary, Alberta, specializing in well completions automation, data mana Canada $14M - [**STATS Group**](https://millionrounds.com/company/stats-group) STATS Group is an engineering company and service provider operating in the arena of piping and pipeline integrity and maintenance. United Kingdom $12M - [**Spex Group**](https://millionrounds.com/company/spex-group) SPEX Group is an oil and gas technology company based in Aberdeen, UK, founded in 2009. United Kingdom $7.6M - [**Cheesecake Energy**](https://millionrounds.com/company/cheesecake-energy) Cheesecake Energy is developing advanced thermal and compressed air energy systems to store energy. United Kingdom $5.2M ### Series A 2 startups · $54M raised - [**Gaussion**](https://millionrounds.com/company/gaussion) Gaussion is a London-based technology company that specializes in MagLiBTM, an innovative magnetic lithium-ion battery charging technology. United Kingdom $43M - [**ACELERON**](https://millionrounds.com/company/aceleron) ACELERON is a UK-based clean technology company founded in 2016, focused on designing and manufacturing advanced lithium-ion batte United Kingdom $11M ### Growth 2 startups · $21M raised - [**Revive Active**](https://millionrounds.com/company/revive-active) Revive Active is Ireland's leading health food supplement brand, established in 2011 and headquartered in Galway. Ireland $13M - [**M-Flow Technologies**](https://millionrounds.com/company/m-flow-technologies) M-Flow Technologies aims to be the go-to provider of Multiphase metering and monitoring for the new era in upstream oil and gas production. United Kingdom $7.7M **How this map is made.** Every startup here works in Energy and has raised money in a round we track that names Business Growth Fund as an investor. Each sits under the stage of its latest round. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [Sector portfolio **Business Growth Fund's Healthtech portfolio** 10 startups · $376M](https://millionrounds.com/portfolio-maps/bgf-healthtech-portfolio)[Sector portfolio **Business Growth Fund's Biotech portfolio** 10 startups · $172M](https://millionrounds.com/portfolio-maps/bgf-biotech-portfolio)[Portfolio map **Business Growth Fund portfolio map** 88 startups · $3.3B](https://millionrounds.com/portfolio-maps/bgf-portfolio-map)[Co-investors **Who invests with Business Growth Fund** 30 co-investors](https://millionrounds.com/portfolio-maps/bgf-co-investors)[Sector portfolio **Janus Henderson Investors' Biotech portfolio** 89 startups · $21B](https://millionrounds.com/portfolio-maps/janus-henderson-investors-biotech-portfolio)[Sector portfolio **Janus Henderson Investors' Pharma portfolio** 35 startups · $6.2B](https://millionrounds.com/portfolio-maps/janus-henderson-investors-pharma-portfolio) ## Raising from investors like Business Growth Fund? 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