Discover 20 Innovative Energy Startups to Watch (2024)

How are emerging technologies improving energy savings and accelerating clean energy transition? Meet the 20 hand-picked Energy Startups to Watch for 2024 in this data-driven report and learn how their solutions enable renewable energy transportation, energy optimization, waste to energy, affordable nuclear power generation, and much more!

As we stand on the cusp of a green revolution, a new wave of startups is leading the charge, harnessing cutting-edge technologies to redefine our energy narrative. From smart energy-saving solutions that reduce consumption to renewable energy transportation systems that improve access to renewable energy, the transformation is palpable. The journey towards a clean energy transition is being accelerated by energy optimization platforms, high-strength wind turbines, and revolutionary waste-to-energy processes. Furthermore, the advent of modular nuclear reactors offers a safer and more efficient approach to nuclear energy, while plug-and-play solar kits are democratizing access to solar power. Dive into our curated list of 20 energy startups to watch in 2024 and discover the trailblazers shaping the next era of energy innovation.

20 Energy Startups to Watch in 2024

Global Startup Heat Map highlights 20 Energy Startups to Watch

Through the Big Data & Artificial Intelligence (AI)-powered StartUs Insights Discovery Platform, covering over 3 790 000+ startups & scaleups globally, we identified 6842 energy startups. The Global Startup Heat Map below highlights the 20 energy startups you should watch in 2024 as well as the geo-distribution of all energy startups & scaleups we analyzed for this research.

Based on the heat map, we see high startup activity in Europe and the USA, followed by India. These energy startups work on solutions ranging from renewable energy transportation and high strength wind turbines to energy optimization platforms and plug and play solar kits.



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As the world’s largest resource for data on emerging companies, the SaaS platform enables you to identify relevant technologies and industry trends quickly & exhaustively. Based on the data from the platform, the Top 5 Energy Startup Hubs are in London, New York, Houston, Berlin, and Bangalore. The 20 hand-picked startups highlighted in this report are chosen from all over the world and develop solutions for waste to energy, affordable nuclear power generation, renewable energy transportation, clean energy transition, and energy optimization.

Explore 20 Innovative Energy Startups to Watch (2024)

Preflet enables Smart Energy Saving

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German startup Preflet offers a platform that allows commercial building owners to decarbonize their buildings and achieve immediate energy savings. The platform provides a holistic view of a building’s energy usage through granular analytics on spending, carbon emissions, and energy intensity.

It also detects unusual consumption patterns and suggests actions to improve efficiency. The platform integrates with smart meters and other building data sources. Additionally, Preflet manages a building’s energy asset inventory and maintenance tasks to avoid energy leakages.

Found Energy simplifies Renewable Energy Transportation

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Found Energy is a US-based startup that develops modular fuel packs for transporting renewable energy using aluminum scrap. The fuel packs generate clean hydrogen through the corrosion of aluminum in water, providing both hydrogen and steam as energy carriers.

Each fuel pack produces 115 MWh of on-demand hydrogen and 105 MWh of steam while offsetting 100 tons of carbon dioxide. This overcomes current limitations in transporting green energy. Thus, by making use of low-quality aluminum waste as fuel, Found Energy’s technology competes with fossil fuels on cost and energy density without any environmental costs.

Cottage promotes Clean Energy Transition

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US-based startup Cottage builds an energy management platform that allows users to shift to green energy without the need for setting up a renewable energy infrastructure or causing any disruption to the existing energy supply. After the users link their electric account to the platform, it matches the consumers’ monthly usage with its clean energy-producing partners.

Additionally, Cottage constantly scouts for ways to lower the cost of consumers’ energy bills. As soon as it finds them, it builds them into the platform and passes the savings on to the users. This way, the startup ensures a transition to greener energy while also identifying energy savings opportunities.

Elyos Energy builds an Energy Optimization Platform

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UK-based startup Elyos Energy develops a platform that enhances energy optimization and demand response management. Using machine learning and real-time analytics, the startup enables users to reduce energy consumption during times of peak demand on the electrical grid. It also lets businesses leverage their energy assets and automate participation in demand response programs and other flexibility markets.

By shifting energy usage away from peak price periods, companies are able to save on electricity bills and earn additional incentives when grid stress is high. Thus, Elyos Energy allows companies to cut costs and support grid reliability through demand flexibility programs.

Terawind makes High Strength Wind Turbines

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Terawind is an Austrian startup that develops a wind turbine technology to capture energy from strong winds that are currently untapped. Its turbines have truss-braced rotor blades and have high strength. As a result, they are suitable for extremely high wind speeds and turbulent conditions.

The startup also optimizes aerodynamics for maximum energy extraction and reduced noise. Moreover, the smaller size of the rotors allows the turbines to be transported and installed more easily in complex terrain. Lastly, the turbines have a bird collision avoidance system, ensuring biodiversity protection.

FusionOne converts Plastic Waste to Hydrogen

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Canadian startup FusionOne makes a reactor, HydroPlas, that turns plastic waste into green hydrogen using thermal decomposition technology. The reactor processes shredded plastic in very high temperatures in a controlled zero oxygen environment.

The long polymer chains of the waste plastic break down into shorter and simpler chains, resulting in a hydrogen-rich syngas stream. FusionOne then cools, separates, and purifies the syngas to produce green hydrogen which is then piped to a proprietary power generation system that sends green energy into electricity grids.

MoltexFLEX manufactures a Modular Nuclear Reactor

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MoltexFLEX is a UK-based startup that makes a modular nuclear reactor, FLEX Reactor. It produces 60 MW of thermal energy at 700°C. This energy is stored in the startup’s GridReserve thermal storage tanks. It significantly increases the power output during periods when renewables fall short. The reactor is compact and modular, allowing for factory production of its components.

It is also passively safe, eliminating the need for costly safety systems. Moreover, the reactor operates without moving parts and requires refueling only once every five years. This way, MoltexFLEX offers a solution that complements renewable energy sources, ensuring consistent power supply while also cutting production and maintenance costs.

Proteum Energy turns Feedstocks into Low-carbon Hydrogen

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US-based startup Proteum Energy develops the Hydrogen Designer Fuel (HDF) system, leveraging its proprietary steam non-methane reformation, SnMR technology, and hydrocarbon reforming (HHR) reactors. This system transforms non-methane hydrocarbon feedstocks, such as ethanol or ethane, into low carbon-intensity hydrogen and synthetic natural gas.

The HDF system is modular, allowing for the production of multiple fuel products. Additional modules, like CO2 separation and H2 separation, customize the production of specific gases. The resulting product gases range from fuel cell hydrogen to hydrogen-rich designer fuel, supporting various decarbonizing applications.

Tornasol Energy offers Plug and Play Solar Kits

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Tornasol Energy is a Spanish startup that provides plug and play solar kits for homes as well as businesses. The flexible and lightweight kits are designed for easy placement in various locations, including balconies, terraces, pergolas, walls, and roofs. The kits are modular, scalable up to 4 panels, and offer 1200W of power. Once set up, users simply connect the kit to any outlet, immediately generating energy. Thus, leading to renewable energy transition and energy savings.

True Energy Supply enables Power factor Correction

energy_startups to watch_true energy supply

True Energy Supply is a US-based startup that enables power factor correction and manages harmonic distortion. The startup’s power factor correction device once connected to an inductive load generates reactive current that is passed back to the system. By inducing a reactive current into the asset, True Energy Supply is able to lower the current drawn which translates into energy saving.

Its other product, TES Harmic Filter (TESHF), measures the harmonic effect within the load and reacts accordingly by injecting the precise amount of current to counteract the effects of any harmonic distortion and in some cases displacement of power factor or balance load.



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Kavaken provides Energy Intelligence

Turkish startup Kavaken offers an AI-powered energy intelligence platform. It optimizes renewable energy asset management through production forecasting and predictive maintenance. The platform allows utilities to plan and monitor maintenance activities across all plants.

It also incorporates weather and production forecasts for optimal time recommendations and visually depicts maintenance activity progress. With a focus on revenue optimization, Kavaken’s platform empowers businesses to make informed operational decisions.

Felexole develops Flexible Wind Technology

French startup Flexeole makes a flexible wind power solution. Its flexible rotor provides renewable energy with no emissions and limited landscape impact. The wind turbines feature 50 to 135 kW capacity and 3 to 25 m/s wind speeds.

Flexeole’s technology further minimizes the effects of wind speed variability on energy output, resulting in more stable and predictable energy production. The technology increases the torque on the primary shaft and recovers a significant part of the kinetic energy. This results in a more effective load factor. Felexole’s flexible wind power technology thus offers customers a competitive and sustainable means to leverage wind power.

Electrion offers Energy Storage As A Service (ESaaS)

US-based startup Electrion provides portable clean energy through its ESaaS. The startup allows users to order energy storage devices on demand through smartphones. Moreover, it uses second-life batteries from electric vehicles (EVs).

This approach makes the startup’s energy storage systems (ESSs) more affordable and sustainable. Electrion’s ESaaS model provides a more cost-effective and sustainable means for small-scale applications such as home energy storage and off-grid work sites.

GKN Hydrogen makes Metal Hydride Hydrogen Storage

Italian startup GKN Hydrogen provides green hydrogen storage solutions to promote energy transition. The startup’s low-pressure storage system operates at the same pressure level as electrolysis and fuel cells to store green hydrogen. The recyclable storage system produces no waste during operation and generates pure water. It has a lifespan of over 15 years and helps companies reduce their carbon footprint.

Further, the storage system’s modular design allows for applications in emergency power backup, off-grid energy supply, maritime transport, and more. GKN Hydrogen’s solution thus enables a decentralized, carbon-neutral energy infrastructure.

EaasGlobal aids Blockchain-based Energy Exchange

Polish startup EaasGlobal enables peer-to-peer (P2P) green energy exchange. The startup’s app, EAAS Smart Box, monitors the consumption, production, and efficiency of independent renewable energy sources. It then notifies utilities and energy providers of peak electricity production and provides optimization suggestions. This enables green energy producers to sell their energy directly to consumers, cutting off the middleman.

The secure and transparent blockchain-based transaction system further ensures reliable payment processing, reducing the risk of fraud. This P2P energy exchange helps utilities reduce infrastructure costs and enables customers to generate and consume energy locally.

WatGen develops a Renewable Mobile Power Source

WatGen is a Chilean startup that makes Atwatts 1.0, a solar-based renewable mobile power source. It delivers higher amperage and efficiency compared to regular solar panels. The power source supports rapid deployments and delivers industrial-scale, three-phase, and two-phase power with an energy storage capacity ranging from 6Kw to 500Kw. WatGen’s panels power construction utilities such as electric fences and function as a viable alternative to diesel generators, decarbonizing heavy industries.

The Magnetic Energy advances Magnetic Energy Generation

Brazilian startup The Magnetic Energy develops a magnetic energy generation device. It replaces conventional fuel-based generator sets. The device consists of a system of permanent magnets and coils that convert magnetic force into motive power.

By combining this power with a generator engine, the device generates electricity. It operates autonomously and features a low generator magnet demagnetization rate, extending its lifespan. Moreover, the device does not require fuel tanks or filtration, exhaust, and radiator systems, making it environmentally friendly and cost-effective. simplifies Energy Modeling

Swedish startup makes an energy modeling platform, REBASE. It provides energy forecasting and simulations for distributed energy resources (DERs), such as solar panels, wind turbines, batteries, and EV charging infrastructures. The platform utilizes open-source machine learning (ML) models and a customizable Python software development kit (SDK). This eliminates the need for infrastructure, data pipelining, and backtesting.

Additionally, it incorporates digital twin modeling that allows users to simulate and optimize DERs based on satellite data. REBASE further identifies energy distribution scenarios and provides quantified data on energy savings and CO2 savings. This allows energy traders, power producers, and energy service providers to improve their energy efficiency.

Saiflow offers an Energy Cybersecurity Platform

Israeli startup Saiflow provides a cybersecurity platform to protect electric vehicle charging infrastructure (EVCI) and energy networks from cyber threats. It improves posture and risk management, real-time automated monitoring, and perimeter security. The platform also features malware monitoring, detection, prevention, and management.

Further, it correlates smart-grid measurements with network activities to enforce a network segmentation firewall. This encrypts the charging and user data. The platform then uses deep packet inspection to monitor and block known vulnerabilities and attacks, mitigating data leaks and downtimes.

P2X Solutions delivers Power-To-Renewable Hydrogen

Finnish startup P2X Solutions builds renewable hydrogen and synthetic fuel production plants and a hydrogen refueling station network. The startup’s plants leverage electricity from renewable sources to produce hydrogen through electrolysis. They refine a part of the green hydrogen using power-to-x (P2X) technology.

The plants support 20 MW electrolysis capacity and methanation to produce synthetic fuels such as e-methane and e-ammonia from hydrogen and CO2, which is captured from local industrial plants. The produced hydrogen is a clean and sustainable energy source in various applications, such as fuel cells, industrial processes, and transportation.

Discover All Emerging Energy Startups

The energy startups showcased in this report are only a small sample of all startups we identified through our data-driven startup scouting approach. Download our free Energy Innovation Report for a broad overview of the industry or get in touch for quick & exhaustive research on the latest technologies & emerging solutions that will impact your company in 2024!



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