The renewable energy industry is home to 28 unicorn startups. These companies cover a wide range of areas, from developing new energy sources to creating more efficient supply chains.
China's Envision Group leads the sector with a valuation of $21B. In the US, battery recycler Redwood Materials has raised $4.2B to build a circular supply chain.
Below is the full list of 28 Renewable Energy unicorn startups at this time.
Top 10 Most Valuable Renewable Energy Unicorns
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Get the Sheet for $50Envision Group builds technology for the future of renewable energy, producing everything from smart wind turbines to large scale battery storage. They are widely recognized for their AIoT platform, EnOS™, which helps manage and optimize clean energy assets around the world.
| Valuation | $21B |
| Headquarters | Shanghai, Shanghai, China |
| Year Founded | 2007 |
| Founders | Allan To, Lei Zhang |
| Funding Amount | $2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series B |
| Top Investors | GIC, HSG, Primavera Capital Group |
GoodLeap operates a financial technology platform connecting homeowners with financing for sustainable home upgrades. Their technology provides contractors with a point-of-sale tool to offer loan options for projects focused on energy efficiency.
| Valuation | $12B (Joined October 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2003 |
| Founders | Hayes Barnard, Jason Walker, Matt Dawson |
| Funding Amount | $1.2B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Mubadala Capital Ventures, WestCap, Stephens Group, New Enterprise Associates, BDT & MSD Partners |
Octopus Energy Group develops clean energy technology to provide green power solutions directly to consumers. They focus on using this technology to make the transition to renewable energy cheaper and simpler for households and businesses.
| Valuation | $9B |
| Headquarters | London, England, United Kingdom |
| Year Founded | 2015 |
| Founders | Greg Jackson, James Eddison, Stuart Jackson |
| Funding Amount | $2.9B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | Generation Investment Management, Galvanize Climate Solutions, Lightrock, Origin Energy, CPP Investments |
Redwood Materials recycles end-of-life batteries from sources like electric vehicles and consumer electronics to produce essential battery components. They are creating a closed-loop domestic supply chain that returns valuable metals back into U.S. battery manufacturing.
| Valuation | $6B (Joined July 2021) |
| Headquarters | Carson City, Nevada, United States |
| Year Founded | 2017 |
| Founders | JB Straubel |
| Funding Amount | $4.2B |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series E |
| Top Investors | Valor Equity Partners, Eclipse Ventures, Amazon, Franklin Templeton, Fidelity |
Helion Energy develops fusion power technology to provide a new source of clean electricity. They are working to build the world's first fusion power plant, aiming to generate abundant, zero-carbon energy.
| Valuation | $5.43B (Joined November 2021) |
| Headquarters | Everett, Washington, United States |
| Year Founded | 2013 |
| Founders | Chris Pihl, David Kirtley, George Votroubek, John Slough |
| Funding Amount | $1B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series F |
| Top Investors | Mithril Capital Management, Lightspeed Venture Partners, Sam Altman, SoftBank Vision Fund, Y Combinator |
Aurora Solar builds a software platform that gives solar professionals the tools to design and sell solar installations remotely. Their platform uses data and aerial imagery to create accurate designs and sales proposals, significantly speeding up the process for installers.
| Valuation | $4B (Joined May 2021) |
| Headquarters | San Francisco, California, United States |
| Year Founded | 2013 |
| Founders | Christopher Hopper, Samuel Adeyemo |
| Funding Amount | $523.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series D |
| Top Investors | Coatue, Energize Capital, Pear VC, ICONIQ Growth, Lux Capital |
Sungrow New Energy provides a smart operations and maintenance platform for renewable energy plants. Their software supports the full lifecycle management of solar farms, wind power stations, and energy storage systems.
| Valuation | $3B |
| Headquarters | Hefei, Anhui, China |
| Year Founded | 2014 |
| Founders | — |
| Funding Amount | CN¥847M |
| Company Size | No Data |
| Last Funding Status | Venture Round |
| Top Investors | CCB Investments, ICBC Investment, Anhui Tieji Xinneng Equity Investment, Zhejiang Fuzhe Fuchuang Equity Investment |
Gokin Solar develops and manufactures high-efficiency, large-size photovoltaic silicon wafers. These advanced components are essential for producing next-generation solar panels and driving progress in renewable energy.
| Valuation | $2.88B (Joined April 2022) |
| Headquarters | Zhuhai, Guangdong, China |
| Year Founded | 2019 |
| Founders | — |
| Funding Amount | CN¥4.1B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | GF Xinde Investment Management, CICC, Zhuhai Huafa Group, IDG Capital, Walden International |
Rad Power Bikes builds a popular lineup of electric bikes sold directly to consumers for commuting, hauling cargo, and recreation. Their focus on accessibility and a direct sales model has made them the largest e-bike company in North America.
| Valuation | $2B (Joined October 2021) |
| Headquarters | Seattle, Washington, United States |
| Year Founded | 2007 |
| Founders | Mike Radenbaugh, Tyler Collins |
| Funding Amount | $329.3M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series D |
| Top Investors | T. Rowe Price, Morgan Stanley, Durable Capital Partners, The Rise Fund, Fidelity |
Arcadia builds a software platform that provides the data and tools needed to decarbonize the electric grid. They offer universal access to utility data through a single API, helping companies manage their energy usage and transition to clean energy.
| Valuation | $2B (Joined May 2022) |
| Headquarters | Greenwood Village, Colorado, United States |
| Year Founded | 2014 |
| Founders | Kiran Bhatraju, Ryan Nesbitt |
| Funding Amount | $575.5M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Series E |
| Top Investors | Tiger Global Management, Salesforce Ventures, Alumni Ventures, BoxGroup, Wellington Management |
The Remaining 18 Renewable Energy Unicorns
The most valuable unicorns are only part of the picture. Founders across the globe are building companies to help create a cleaner future.
While many of these companies come from the United States and China, this is truly a worldwide effort. Here’s a look at the other unicorn startups helping to reshape the energy sector.