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12 Well-Known Energy Storage Startups

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Think Energy Storage is boring and everything’s been done before?

Think again.

If you’re in the Energy Storage industry or are interested in starting a company in this space, this article dives into 12 of the hottest fast-growing Energy Storage startups.


12 Energy Storage Startups

1) ESS

1) ESS

ESS is a prominent manufacturer of long-duration energy storage systems for C&I, utility, microgrid, and off-grid applications.

Details of the startup:

  • Country: United States
  • City: Wilsonville
  • Started in: 2011
  • Founders: Craig Evans, Julia Song
  • Number of employees: 11-50
  • Funding amount: $47,005,727
  • Number of funding rounds: 8
  • Number of investors: 16

You can find their website here.

2) Microvast

2) Microvast

Microvast is a company that designs, develops, and manufactures high-quality charging and battery control systems for electric vehicles.

Details of the startup:

  • Country: United States
  • City: Stafford
  • Started in: 2006
  • Founders: Diaokun Xiao, Xiang LI, Yang Wu
  • Number of employees: 101-250
  • Funding amount: $450,000,000
  • Number of funding rounds: 2
  • Number of investors: 4

You can find their website here.

3) Enevate

3) Enevate

Enevate is a rechargeable energy storage technology firm that provides revolutionary Li-ion battery capacity.

Details of the startup:

  • Country: United States
  • City: Irvine
  • Started in: 2005
  • Founders: Benjamin Park
  • Number of employees: 51-100
  • Funding amount: $192,600,000
  • Number of funding rounds: 7
  • Number of investors: 11

You can find their website here.

4) Form Energy

4) Form Energy

Form Energy is working on a low-cost battery technology that can store wind and solar energy for extended periods of time.

Details of the startup:

  • Country: United States
  • City: Somerville
  • Started in: 2017
  • Founders: Marco Ferrara, Mateo Jaramillo, Ted Wiley, William Woodford, Yet-Ming Chiang
  • Number of employees: 101-250
  • Funding amount: $125,000,000
  • Number of funding rounds: 3
  • Number of investors: 11

You can find their website here.

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5) 24M Technologies

5) 24M Technologies

Energy storage solutions for grid and transportation applications are developed by 24M Technologies.

Details of the startup:

  • Country: United States
  • City: Cambridge-US
  • Started in: 2010
  • Founders: Throop Wilder, Yet-Ming Chiang
  • Number of employees: 11-50
  • Funding amount: $94,632,000
  • Number of funding rounds: 3
  • Number of investors: 8

You can find their website here.

6) Hydrostor

6) Hydrostor

Advanced Compressed Air Energy Storage (A-CAES) is a long-duration, emission-free, cost-effective energy storage system developed by Hydrostor.

Details of the startup:

  • Country: Canada
  • City: Toronto
  • Started in: 2010
  • Founders: Cameron Lewis, Curtis VanWalleghem
  • Number of employees: 11-50
  • Funding amount: $37,000,000
  • Number of funding rounds: 4
  • Number of investors: 10

You can find their website here.

7) Peak Power Inc

7) Peak Power Inc

Intelligent energy in smart cities is enabled by a software firm.

Details of the startup:

  • Country: Canada
  • City: Toronto
  • Started in: 2015
  • Founders: Benson Pei Sen Hu, Derek Lim Soo, Matthew Sachs
  • Number of employees: 11-50
  • Funding amount: $25,074,753
  • Number of funding rounds: 8
  • Number of investors: 12

You can find their website here.

8) ION Energy

8) ION Energy

The most advanced battery management and intelligence platform in the world.

Details of the startup:

  • Country: India
  • City: Mumbai
  • Started in: 2017
  • Founders: Akhil Aryan, Akhil Aryan, Alexandre Collet
  • Number of employees: 11-50
  • Funding amount: $1,041,000
  • Number of funding rounds: 3
  • Number of investors: 5

You can find their website here.

9) Evergen

9) Evergen

Smarter energy is made possible with Evergen software.

Details of the startup:

  • Country: Australia
  • City: Newcastle-AUS
  • Started in: 2015
  • Founders: Ben Hutt, Nick McGrath
  • Number of employees: 51-100
  • Funding amount: $11,809,467
  • Number of funding rounds: 3
  • Number of investors: 5

You can find their website here.

10) Grinntech

10) Grinntech

Lithium Battery Packs for Automotive and Stationary Use

Details of the startup:

  • Country: India
  • City: Chennai
  • Started in: 2013
  • Founders: Nikhilesh Mishra, Puneet Jain
  • Number of employees: 11-50
  • Funding amount: $2,000,000
  • Number of funding rounds: 1
  • Number of investors: 5

You can find their website here.

11) Hydrogenious Technologies

11) Hydrogenious Technologies

Hydrogenious Technologies creates cutting-edge technologies for hydrogen storage in liquid organic hydrogen carriers that are both safe and efficient.

Details of the startup:

  • Country: Germany
  • City: Erlangen
  • Started in: 2013
  • Founders: Daniel Teichmann, Eberhardt Schlücker, Peter Wasserscheid, Wolfgang Arlt
  • Number of employees: 11-50
  • Funding amount: € 17,000,000
  • Number of funding rounds: 3
  • Number of investors: 5

You can find their website here.

12) GBatteries

12) GBatteries

GBatteries is a company that creates sophisticated fast charging technology and is supported by some of the world's most prestigious investors.

Details of the startup:

  • Country: Canada
  • City: Ottawa
  • Started in: 2013
  • Founders: Alex Tkachenko, Kostya Khomutov, Nick Sherstyuk, Tim Sherstyuk
  • Number of employees: 11-50
  • Funding amount: $3,916,485
  • Number of funding rounds: 6
  • Number of investors: 13

You can find their website here.

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