From pioneering advancements in solar and wind energy to developing groundbreaking nuclear technologies, European tech companies spearhead efforts to create a more sustainable and resilient energy future. Their initiatives aim to reduce carbon emissions and combat climate change while enhancing energy security and efficiency for businesses and consumers alike.
With a rich ecosystem of startups, scale-ups, and established enterprises, Europe is becoming a global hub for energy innovation. As these tech companies continue to push the boundaries of what is possible in the energy sector, they play a crucial role in shaping a cleaner, more sustainable future for Europe and beyond.
According to the Tech.eu research, in the first three quarters of 2024, European tech companies in the energy sector raised more than €5.1 billion.
The following ten companies are the top fundraisers during this period and are leading the energy transition by utilizing advanced technologies, including renewable energy solutions, smart grids, energy storage systems, and sustainable fuels.
Zenobē Energy (UK)
Zenobē designs, finances, builds, and operates battery solutions that capture renewable energy, stabilize the grid, and power electric vehicles, with a focus on repurposing batteries at the end of their lifecycle.
Committed to measurable impact, Zenobē partners with clients to reduce emissions, ensure reliable clean energy, and pioneer new battery applications. Driven by a mission to balance commercial and environmental goals, Zenobē’s projects range from supporting Scotland’s shift to 100% renewable energy to delivering Australia’s largest electric bus project.
In the first three quarters of 2024, the company secured over €650 million to accelerate the deployment of electric buses across the UK and bolster Scotland’s leadership in renewable energy.
Highview Power (UK)
Highview Power is a provider of long-duration energy storage solutions that can be deployed at grid scale today.
Its technology offers flexible, responsive, and reliable energy storage, reshaping renewable energy to meet the demands of a 24/7 world. This innovation reduces dependence on gas, stabilizes energy costs, and enhances energy security, supporting a thriving clean energy economy for all.
In June, the company secured £300 million to fund the construction of one of the world’s largest long-duration energy storage (LDES) facilities in Carrington, Manchester, leveraging Highview Power’s proprietary LAES technology.
Aira (Sweden)
Aira is the next-generation home energy company committed to transforming how we heat our homes. Relying on fossil fuels for comfort is an outdated solution that poses a serious threat to our planet.
The company is on a mission to deliver clean energy technology to every household. With their innovative technology, Aira is addressing residential heating, which is Europe’s third-largest source of CO2 emissions.
Their heat pumps utilize clean, free air from the outdoors to create an ideal indoor climate, helping homeowners lower both their energy bills and carbon emissions.
In the first three quarters of 2024, the company raised €345 million, to facilitate the installation of Aira Heat Pumps in thousands of homes across Germany.
Electra (France)
Electra is a European leader in fast charging solutions for electric vehicles, dedicated to removing barriers to EV adoption by building an efficient network of fast-charging stations across Europe.
With a focus on operational excellence and a team of 160 experts, Electra aims to make EV charging as seamless as refuelling with petrol, prioritizing time savings and user comfort. Operating at the intersection of technology, infrastructure, and mobility, Electra drives innovation across its offerings, services, and partnerships to meet the needs of a rapidly evolving market.
In January the company raised €304 million, which will allow Electra to realize its ambition of installing 15,000 charging points by 2030 in Europe.
Sunly (Estonia)
Sunly is a renewable energy company active in the Baltics and Poland, focused on developing, building, and managing renewable energy projects.
The company focuses on creating integrated hybrid parks that combine wind, solar, and battery storage at a single connection point, delivering stable, cost-efficient energy directly to consumers. This approach reduces grid connectivity costs, enhancing energy security and efficiency for high-consumption industrial clients.
In addition to generating clean energy, Sunly invests in startups and provides electricity directly to consumers.
A few months ago, the company secured €300 million to accelerate the construction of 1.3 GW of solar, wind, storage, and hybrid parks across the Baltics and Poland.
HomeTree (UK)
Hometree is a home energy services company dedicated to accelerating the transition to net zero by assisting homeowners in adopting low-carbon living solutions.
The company aims to support homeowners in navigating the challenges of transitioning to sustainable heating options, such as heat pumps and hydrogen boilers.
By fixing, installing, and financing home energy hardware, Hometree offers services like boiler and home emergency cover, while rapidly expanding its product offerings to include low-carbon solutions. The company is committed to guiding homeowners through the decarbonization journey, helping them create a cleaner and more efficient future for their homes.
With £250 million secured in debt financing, the company will provide funding for the installation of solar panels, battery storage systems, and heat pumps using a variety of industry-leading lease and loan solutions.
Deep Green (UK)
Deep Green is the data centre company that captures and repurposes the heat generated by computing for social good, at no cost.
The company is committed to building a sustainable future for data infrastructure grounded in environmentally friendly principles. By collaborating with industrial and public facilities, Deep Green utilizes the heat emissions from its data centres to meet their heating and hot water needs.
With £200 million funding received in January this year, a company will accelerate the deployment of its innovative technology throughout the UK, benefiting public swimming pools and district heating networks.
Enviria (Germany)
Enviria specializes in innovative solar-centric projects tailored to meet the unique needs of the B2B sector, utilizing their expertise in EPC (Engineering, Procurement, and Construction) and financial engineering.
The company is committed to transcending private and civic engagement to challenge centralized energy production and ensure the success of the clean energy transition.
Enviria’s focus is on creating value through integration, fostering a renewable energy ecosystem that empowers B2B participants to take control of their green initiatives.
In February this year, the company raised over $200 million for the expansion of its commercial and industrial solar projects.
Tree Energy Solutions - TES (Belgium)
TES is a global green energy company dedicated to developing giga-scale projects for the production of hydrogen-based e-fuels, including e-NG (electric natural gas made from green hydrogen and CO2).
Headquartered in Europe and operating internationally, TES harnesses renewable energy sources—such as solar, wind, and hydro—alongside climate-neutral CO2 to create e-NG, a drop-in fuel capable of replacing fossil natural gas.
The company is committed to accelerating the adoption of green molecules across various sectors by simplifying their transport and consumption, helping to achieve real zero targets and win the climate race.
In April, the company secured €140 million to fuel production of electric natural gas derived from green hydrogen.
Newcleo (UK)
Newcleo is a company that focuses on the design, construction, and operation of Gen-IV Advanced Modular Reactors (AMRs) cooled by liquid lead and fueled by reprocessed nuclear waste.
By integrating existing technologies and reviving a nuclear industry model centred around the manufacturing and multi-recycling of Mixed Oxide fuel, newcleo aims to close the nuclear fuel cycle while safely generating clean, affordable, and nearly limitless energy essential for low-carbon economies.
Employing over 850 highly skilled professionals across France, the UK, Italy, Switzerland, and Slovakia, newcleo is committed to developing the necessary skills and services for its ambitious projects while also contributing to the development of Small Modular Reactor supply chains throughout Europe and beyond.
Recently, the company closed a round of €135 million.
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