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 |
$16Bmark 2025-Q4 | $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 | expected |
| 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 |
$8.7Bmark 2025-12 | 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 | Aurora Solar San Francisco, CA |
$4.4Bmark 2022-Q1 | $15.05as of 2026-06-27 | no round comparison | Series D · 2022-02-14 · $200M | private |
| 12 | HiTHIUM Xiamen, China |
$4.2Bmark 2023-Q2 | no secondary mark | — | Series C · 2023-06-30 · $629M | private |
| 13 | Enovate Motors Shaoxing, China |
$3.7Bmark 2020-Q4 | no secondary mark | — | Series B · 2020-10-13 · $736M | private |
| 14 | Group14 Technologies Woodinville, Washington |
$3.0Bmark 2025-Q3 | $11.12as of 2026-06-27 | -56.4% | Series D · 2025-08-20 · $463M | Private |
| 15 | Workrise Austin, TX |
$2.9Bmark 2022-Q1 | $74.16as of 2026-06-27 | -82.3% | Series E · 2021-04-01 · $300M | private |
| 16 | Form Energy Somerville, MA |
$2.5Bmark 2024-Q3 | $16.76as of 2026-06-27 | -30.7% | Series F · 2024-10-01 · $405M | no imminent plans |
| 17 | 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 |
| 18 | ProLogium Taoyuan, Taiwan |
$2.5Bmark 2021-Q3 | $10.00as of 2026-06-27 | no round comparison | Series E · 2021-08-19 · $150M | private |
| 19 | 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 |
| 20 | Gradiant Woburn, MA |
$2.1Bmark 2026-Q2 | $31.31as of 2026-06-27 | +5.6% | Series E · 2026-05-17 · $400M | 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 | Sila Nanotechnologies Alameda, California |
$1.7Bmark 2026-Q2 | no secondary mark | — | Series G · 2026-04-07 · $475M | none |
| 26 | KoBold Metals Berkeley, CA |
$1.7Bmark 2026-01 | $86.78as of 2026-06-27 | +2.2% | Series C · 2025-01 · $537M | private |
| 27 | Jinsheng New Energy Zhaoqing, China |
$1.7B | no secondary mark | — | Series C | private |
| 28 | Nanotech Energy Sunny Isles Beach, FL |
$1.7Bmark 2021-Q3 | no secondary mark | — | Series E · 2021-09-02 · $158M | private |
| 29 | Arcadia Washington, DC |
$1.5Bmark 2022-Q2 | $10.72as of 2026-06-27 | -43.4% | Series E · 2022-05-10 · $200M | private |
| 30 | Prometheus Fuels Santa Cruz, CA |
$1.5Bmark 2021-Q3 | no secondary mark | — | Series B · 2021-09-23 · $100M | private |
| 31 | Helium Inc. Calgary, Canada |
$1.3Bmark 2022-Q1 | $40.00as of 2026-06-27 | -20.8% | Series D · 2022-02-18 · $200M | private |
| 32 | 24M Cambridge, MA |
$1.3Bmark 2024-Q3 | no secondary mark | — | Series H · 2024-09-04 · $87M | private |
| 33 | StoreDot Herzliya, Israel |
$1.3Bmark 2022-Q1 | $7.02as of 2026-06-27 | -61.0% | Series D · 2022-03-21 · $70M | private |
| 34 | 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 |
| 35 | Gecko Robotics Pittsburgh, PA |
$1.1Bmark 2025-Q2 | $45.22as of 2026-06-27 | -8.2% | Series D-1 · 2025-06-12 · $122M | Private |
| 36 | Avaada New Delhi, India |
$1.1Bmark 2021-Q3 | no secondary mark | — | Corporate · 2021-07-13 · $464M | private |
| 37 | Zap Energy Everett, WA |
$1.1Bmark 2024-Q3 | $25.00as of 2026-06-27 | -77.7% | Series D · 2024-07-30 · $130M | private |
| 38 | Redaptive Denver, CO |
$1.1Bmark 2024-Q4 | $8.92as of 2026-06-27 | -16.9% | PE Growth/Expansion · 2024-10-22 · $100M | private |
| 39 | SOURCE Norwood, MA |
$1.1Bmark 2022-Q2 | no secondary mark | — | Series D · 2026-08-08 · $400M | private |
| 40 | Astronergy Haining, China |
$1.0Bmark 2023-Q1 | no secondary mark | — | Series B · 2023-01-06 · $216M | private |
| 41 | Epirus Torrance, California |
$1.0Bmark 2025-Q1 | $5.11as of 2026-06-27 | -8.4% | Series D · 2025-03-03 · $250M | Private |
| 42 | Span San Francisco, CA |
$1.0Bmark 2026-Q1 | $15.78as of 2026-06-27 | +34.1% | Series C · 2026-01-27 · $163M | private |
| 43 | Palmetto Charlotte, NC |
$1.0Bmark 2022-Q1 | $4.28as of 2026-06-27 | -41.6% | Series C · 2022-02-23 · $375M | private |
| 44 | Electric Hydrogen Devens, MA |
$1.0Bmark 2023-Q3 | $2.16as of 2026-06-27 | no round comparison | Series C · 2023-07-25 · $380M | private |
| 45 | EcoFlow Shenzhen, China |
$1.0Bmark 2021-Q2 | $7.07as of 2026-06-27 | no round comparison | Series B · 2021-06-10 · $100M | private |
| 46 | 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 |
| 47 | Radia Boulder, CO |
$1.0Bmark 2022-Q2 | no secondary mark | — | Series B2 · 2022-05-13 · $51M | private |
| 48 | Beyond Limits Glendale, CA |
$1.0Bmark 2020-Q3 | $2.72as of 2026-06-27 | -50.6% | Series C · 2020-09-22 · $133M | private |
| 49 | Enpal Berlin, Germany |
$993Mmark 2021-Q4 | no secondary mark | — | Series C · 2021-10-17 · $291M | private |
| 50 | BrightSource Energy Jerusalem, Israel |
$983Mmark 2011-Q1 | no secondary mark | — | Series E · 2011-03-23 · $203M | private |
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 2026-08-16), 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.