The oil and gas sector is seeing a mix of companies, from traditional energy suppliers to those focused on clean technology. This list reflects that diversity, featuring companies involved in everything from commodity trading to carbon capture.
For example, commodity trader Mercuria has raised $15.4B in funding, while carbon transformation company Twelve has secured $929.4M.
Below is our list of 100 Oil and Gas startups worth keeping an eye on.
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Get the Sheet for $50GHGSat operates a constellation of satellites to monitor greenhouse gas emissions from industrial sites with high precision. The company provides actionable data and analytics to help industries and governments measure and manage their environmental impact.
| Headquarters | Montréal, Quebec, Canada |
| Year Founded | 2011 |
| Founders | Stephane Germain |
| Funding Amount | $181.3M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Convertible Note |
| Top Investors | Export Development Canada, Business Development Bank of Canada, Fonds de solidarité FTQ, National Bank of Canada, BDC Venture Capital |
Mainspring Energy builds a new class of power generation technology known as the Linear Generator. Their system provides clean, reliable, and fuel-flexible electricity for commercial and industrial customers.
| Headquarters | Menlo Park, California, United States |
| Year Founded | 2010 |
| Founders | Adam Simpson, Matt Svrcek, Shannon Miller |
| Funding Amount | $813M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Series F |
| Top Investors | General Catalyst, Temasek Holdings, Alumni Ventures, Khosla Ventures, Lightrock |
Kpler builds a data and analytics platform that brings real-time transparency to global commodity markets. Their intelligence solutions cover everything from energy and metals to agriculture, helping clients make more informed trading decisions.
| Headquarters | Brussels, Brussels Hoofdstedelijk Gewest, Belgium |
| Year Founded | 2014 |
| Founders | Emeric De Vigan, François Cazor, Jean Maynier |
| Funding Amount | $185M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | Insight Partners, Five Arrows Growth Capita |
Twelve is a carbon transformation company that converts captured CO2 into valuable products like chemicals and fuels. Their technology creates a new, circular source for materials traditionally made from fossil fuels, helping industries reduce their emissions.
| Headquarters | Berkeley, California, United States |
| Year Founded | 2015 |
| Founders | Etosha Cave, Kendra Kuhl, Nicholas Flanders |
| Funding Amount | $929.4M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | National Science Foundation, TPG, Techstars, Greycroft, Global Brain Corporation |
Holtec International develops and supplies turnkey equipment and systems for the global energy industry. They are particularly focused on the nuclear power sector, providing solutions for spent fuel management and building a new generation of small modular reactors.
| Headquarters | Jupiter, Florida, United States |
| Year Founded | 1986 |
| Founders | Kris Singh |
| Funding Amount | $1.5B |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Debt Financing |
| Top Investors | Advantage Capital, DOE Loan Programs Office |
FREDsense builds portable field kits for rapid water quality analysis, giving industrial operators real-time data without a lab. The company’s biosensor technology makes it possible to quickly measure difficult contaminants directly on-site.
| Headquarters | Calgary, Alberta, Canada |
| Year Founded | 2014 |
| Founders | David Lloyd, Emily Hicks, Iain George, Lisa Oberding, Robert Mayall |
| Funding Amount | $10M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Series A |
| Top Investors | Elemental Impact, Emerald Technology Ventures, Creative Destruction Lab (CDL), FundersClub, Accelerate Fund |
ENGIE North America develops and implements sustainable green energy solutions for customers across the continent. Their portfolio includes large-scale renewable energy generation, energy storage, and services designed to help organizations decarbonize their operations.
| Headquarters | Houston, Texas, United States |
| Year Founded | 1981 |
| Founders | — |
| Funding Amount | $1B |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Debt Financing |
| Top Investors | BNP Paribas, Goldman Sachs, JP Morgan |
Mercuria operates as a global commodity trading firm, moving physical energy products and raw materials to connect markets around the world. The company also actively supports the energy transition by investing in assets for a low-carbon economy.
| Headquarters | Geneva, Geneve, Switzerland |
| Year Founded | 2004 |
| Founders | Daniel Jaeggi, Marco Dunand |
| Funding Amount | $15.4B |
| Startup Size | Major Organization (1,001-5,000) |
| Last Funding Status | Debt Financing |
| Top Investors | SACE |
Consumers Energy provides natural gas and electricity to 6.7 million residents across Michigan's Lower Peninsula. The utility is also executing a long-term clean energy plan to eliminate coal and achieve net-zero carbon emissions.
| Headquarters | Jackson, Michigan, United States |
| Year Founded | 1886 |
| Founders | William A. Foote |
| Funding Amount | $100M |
| Startup Size | Enterprise Organization (5,001+) |
| Last Funding Status | Grant |
| Top Investors | US Department of Energy |
Litmus Automation develops an edge data platform designed for industrial environments. Their system collects and analyzes complex machine data to help companies improve manufacturing operations and implement predictive maintenance.
| Headquarters | San Jose, California, United States |
| Year Founded | 2013 |
| Founders | Isha Sheth, John Younes, Sacha Sawaya, Vatsal Shah |
| Funding Amount | $40.7M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | Plug and Play, Alchemist Accelerator, Momenta, Mitsubishi Corporation, DMZ |
90 Additional Oil and Gas Startups Worth Following
Our top ten picks are just a small part of what's happening in the oil and gas industry. New companies are working on everything from AI to climate-focused technology, and together they have raised tens of billions of dollars.
Some of these businesses are brand new, while others are well known names adapting for the future. Here is a look at the other 90 companies that are shaping this field.