Generation, storage, grid, and climate technology — the private energy transition ranked by valuation.
| # | Company | Valuation | Secondary $/sh | vs Last Round | Last Round | IPO Status |
|---|---|---|---|---|---|---|
| 1 | Crusoe Energy Systems Denver, Colorado |
$30Bmark 2026-03 | $169.56as of 2026-06-27 | +101.8% | Series E · 2025-10-23 · $1.4B | Private |
| 2 | Helion Energy Everett, WA |
$16Bmark 2026-06 | $65.00as of 2026-06-27 | +55.5% | Series G · 2026-06-01 · $425M | no imminent plans |
| 3 | Base Power Austin, TX |
$13Bmark 2026-Q3 | $100.16as of 2026-06-27 | -14.9% | Series D · 2026-08-03 · $1.0B | private |
| 4 | Switch Las Vegas, NV |
$11Bmark 2022-Q4 | no secondary mark | — | Buyout/LBO · 2022-12-06 · $11B | filed confidentially |
| 5 | Fervo Energy Houston, TX |
$10Bmark 2026-05 | $12.32as of 2026-06-27 | +50.8% | Series D · 2024-09-01 · $244M | no imminent plans |
| 6 | Octopus Energy London, United Kingdom |
$9.0Bmark 2024-12 | no secondary mark | — | PE Growth/Expansion · 2024-05-07 · $803M | private |
| 7 | Valar Atomics Hawthorne, CA |
$6.0Bmark 2026-Q3 | $61.53as of 2026-06-27 | no round comparison | Series B · 2026-08-01 · $1.0B | private |
| 8 | Commonwealth Fusion Systems Devens, MA |
$5.0Bmark 2025-Q4 | $196.22as of 2026-06-27 | no round comparison | Series B2 · 2025-08-01 · $863M | no imminent plans |
| 9 | Joulent Houston, TX |
$5.0Bmark 2026-Q3 | no secondary mark | — | Strategic minority investment · 2026-07-01 · $1.8B | private |
| 10 | Redwood Materials Carson City, Nevada |
$4.5Bmark 2025-Q4 | $35.71as of 2026-06-27 | -25.2% | Series E · 2025-10-22 · $350M | Private |
| 11 | HiTHIUM Xiamen, China |
$4.2Bmark 2023-Q2 | no secondary mark | — | Series C · 2023-06-30 · $629M | private |
| 12 | Aurora Solar San Francisco, CA |
$4.0Bmark 2026-01 | $15.05as of 2026-06-27 | no round comparison | Series D · 2022-02-14 · $200M | private |
| 13 | Group14 Technologies Woodinville, Washington |
$3.0Bmark 2025-Q3 | $11.12as of 2026-06-27 | -56.4% | Series D · 2025-08-20 · $463M | Private |
| 14 | Workrise Austin, TX |
$2.9Bmark 2022-Q1 | $74.16as of 2026-06-27 | -82.3% | Series E · 2021-04-01 · $300M | private |
| 15 | TerraPower Bellevue, WA |
$2.5Bmark 2022-Q3 | $55.37as of 2026-06-27 | no round comparison | Series E · 2022-08-01 · $830M | no imminent plans |
| 16 | ProLogium Taoyuan, Taiwan |
$2.5Bmark 2021-Q3 | $10.00as of 2026-06-27 | no round comparison | Series E · 2021-08-19 · $150M | private |
| 17 | TAE Technologies Foothill Ranch, California |
$2.5Bmark 2025-Q2 | $99.59as of 2026-06-27 | no round comparison | Series 12 · 2025-06-01 · $150M | Merger pending with Trump Media & Technology Group |
| 18 | Enovate Motors Shaoxing, China |
$2.1Bmark 2026-08 | no secondary mark | — | Series B · 2020-10-13 · $736M | private |
| 19 | Gradiant Woburn, MA |
$2.1Bmark 2026-Q2 | $31.31as of 2026-06-27 | +5.6% | Series E · 2026-05-17 · $400M | private |
| 20 | Panthalassa | $2.0Bmark 2026-08 | no secondary mark | — | undisclosed | Private |
| 21 | Aulton Shanghai, China |
$2.0Bmark 2021-Q3 | no secondary mark | — | Series B · 2021-09-29 · $232M | private |
| 22 | SPIC Hydrogen Energy Beijing, China |
$1.8Bmark 2022-Q4 | $0.66as of 2026-06-27 | no round comparison | 2022-12-07 · $631M | private |
| 23 | Radiant El Segundo, CA |
$1.8Bmark 2025-Q4 | $47.28as of 2026-06-27 | +11.7% | Series D · 2025-12-15 · $300M | private |
| 24 | Watershed San Francisco, CA |
$1.8Bmark 2024-02-01 | $7.55as of 2026-06-27 | -22.6% | undisclosed | private |
| 25 | Form Energy Somerville, MA |
$1.8Bmark 2026-08 | $16.76as of 2026-06-27 | -30.7% | Series F · 2024-10-01 · $405M | no imminent plans |
| 26 | Sila Nanotechnologies Alameda, California |
$1.7Bmark 2026-Q2 | no secondary mark | — | Series G · 2026-04-07 · $475M | none |
| 27 | KoBold Metals Berkeley, CA |
$1.7Bmark 2026-01 | $86.78as of 2026-06-27 | +2.2% | Series C · 2025-01 · $537M | private |
| 28 | Jinsheng New Energy Zhaoqing, China |
$1.7B | no secondary mark | — | Series C | private |
| 29 | Nanotech Energy Sunny Isles Beach, FL |
$1.7Bmark 2021-Q3 | no secondary mark | — | Series E · 2021-09-02 · $158M | private |
| 30 | Arcadia Washington, DC |
$1.5Bmark 2022-Q2 | $10.72as of 2026-06-27 | -43.4% | Series E · 2022-05-10 · $200M | private |
| 31 | Prometheus Fuels Santa Cruz, CA |
$1.5Bmark 2021-Q3 | no secondary mark | — | Series B · 2021-09-23 · $100M | private |
| 32 | Helium Inc. Calgary, Canada |
$1.3Bmark 2022-Q1 | $40.00as of 2026-06-27 | -20.8% | Series D · 2022-02-18 · $200M | private |
| 33 | 24M Cambridge, MA |
$1.3Bmark 2024-Q3 | no secondary mark | — | Series H · 2024-09-04 · $87M | private |
| 34 | StoreDot Herzliya, Israel |
$1.3Bmark 2022-Q1 | $7.02as of 2026-06-27 | -61.0% | Series D · 2022-03-21 · $70M | private |
| 35 | Gecko Robotics Pittsburgh, PA |
$1.3Bmark 2026-01 | $45.22as of 2026-06-27 | -8.2% | Series D · 2026-01-01 · $122M | Private |
| 36 | ONE (Our Next Energy) Novi, MI |
$1.2Bmark 2024-Q1 | $6.00as of 2026-06-27 | -56.3% | Early Stage VC · 2024-02-01 · $39M | private |
| 37 | Avaada New Delhi, India |
$1.1Bmark 2021-Q3 | no secondary mark | — | Corporate · 2021-07-13 · $464M | private |
| 38 | Zap Energy Everett, WA |
$1.1Bmark 2024-Q3 | $25.00as of 2026-06-27 | -77.7% | Series D · 2024-07-30 · $130M | private |
| 39 | Redaptive Denver, CO |
$1.1Bmark 2024-Q4 | $8.92as of 2026-06-27 | -16.9% | PE Growth/Expansion · 2024-10-22 · $100M | private |
| 40 | SOURCE Norwood, MA |
$1.1Bmark 2022-Q2 | no secondary mark | — | Series D · 2026-08-08 · $400M | private |
| 41 | Emerald AI Washington, D.C., USA |
$1.1Bmark 2026-08 | no secondary mark | — | Strategic · 2026-03 · $25M | private |
| 42 | Astronergy Haining, China |
$1.0Bmark 2023-Q1 | no secondary mark | — | Series B · 2023-01-06 · $216M | private |
| 43 | Epirus Torrance, California |
$1.0Bmark 2025-Q1 | $5.11as of 2026-06-27 | -8.4% | Series D · 2025-03-03 · $250M | Private |
| 44 | Heron Power Scotts Valley, California, USA |
$1.0Bmark 2026-04 | no secondary mark | — | Series B · 2026-02-18 · $140M | private |
| 45 | Span San Francisco, CA |
$1.0Bmark 2026-Q1 | $15.78as of 2026-06-27 | +34.1% | Series C · 2026-01-27 · $163M | private |
| 46 | Palmetto Charlotte, NC |
$1.0Bmark 2022-Q1 | $4.28as of 2026-06-27 | -41.6% | Series C · 2022-02-23 · $375M | private |
| 47 | Electric Hydrogen Devens, MA |
$1.0Bmark 2023-Q3 | $2.16as of 2026-06-27 | no round comparison | Series C · 2023-07-25 · $380M | private |
| 48 | EcoFlow Shenzhen, China |
$1.0Bmark 2021-Q2 | $7.07as of 2026-06-27 | no round comparison | Series B · 2021-06-10 · $100M | private |
| 49 | Lunar Energy Mountain View, CA |
$1.0Bmark 2026-Q1 | $3.32as of 2026-06-27 | no round comparison | Series D · 2026-02-04 · $102M | private |
| 50 | Radia Boulder, CO |
$1.0Bmark 2022-Q2 | no secondary mark | — | Series B2 · 2022-05-13 · $51M | private |
Ranked by tracked Energy & Climate portfolio companies — counted from disclosed round participation and each firm's notable holdings, so a firm only appears here if it actually holds companies in this ranking. Full capital-side ranking: Top Private Market Investors by AUM.
By latest disclosed valuation, the largest tracked private Energy & Climate companies are Crusoe Energy Systems ($30B), Helion Energy ($16B), Base Power ($13B), Switch ($11B), Fervo Energy ($10B). The full ranking of 105 companies refreshes daily at quantlogix.ai/private/energy.
Ranked by tracked Energy & Climate portfolio companies, the most active investors are Energy Impact Partners (8 tracked), Breakthrough Energy Ventures (7 tracked), Founders Fund (6 tracked), Andreessen Horowitz (4 tracked), Valor Equity Partners (3 tracked). Full ranking: Top Private Market Investors by AUM.
Valuations are each company's latest disclosed mark, dated per row; secondary share prices refresh daily (32 of 105 tracked companies currently carry one). Rows without a usable number say so rather than showing zero.
Methodology. Rankings are by each company's latest disclosed valuation (roster + weekly enrichment); the "mark" chip shows when that valuation was set. Secondary share prices are point estimates from secondary-market activity — one implied price per name, no bid/ask — refreshed daily (marks overlay as of 2026-09-05), each carrying its own date. "vs Last Round" compares the secondary price to the company's own last primary round per-share price; rows without a usable comparison say so rather than showing zero. Companies marked acquired, defunct, or public are excluded. Educational data, not investment advice.