Power Law outcomes
Energy unicorns
Dealroom tracks 102 unicorns in Energy — companies that reached a verified $1B+ valuation — worth $434.9B combined, plus 57 thoroughbreds generating $100M+ in annual revenue. Updated July 2026.
102Unicorns ($1B+ valuation)
9Valued at $10B or more
57Thoroughbreds ($100M+ revenue)
$434.9BCombined unicorn valuation
Every Energy unicorn
All 102 companies in Energy that reached a verified $1B+ valuation, ranked by latest valuation. Click a company for its full Dealroom profile.
| # | Company | HQ city | Country | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | Bloom Energy | San Jose | United States | 2001 | $82B | IPO 2018 |
| 2 | Sungrow Power Supply | Hefei | China | 1997 | $36B | IPO 2011 |
| 3 | First Solar | Tempe | United States | 1999 | $18B | IPO 2006 |
| 4 | Sunrun | San Francisco | United States | 2007 | $17B | IPO 2015 |
| 5 | GoodLeap | Roseville | United States | 2003 | $12B | Private |
| 6 | DayOne | Singapore | Singapore | 2001 | $12B | Private |
| 7 | Neoen | Paris | France | 2008 | $11B | IPO 2018 |
| 8 | Oklo | Sunnyvale | United States | 2013 | $10B | Private |
| 9 | Crusoe | Denver | United States | 2018 | $10B | Private |
| 10 | X-energy | Rockville | United States | 2009 | $9.1B | IPO 2026 |
| 11 | Commonwealth Fusion Systems | Harvard | United States | 2018 | $9B | Private |
| 12 | Octopus Energy | London | United Kingdom | 2015 | $9B | Private |
| 13 | Kraken | London | United Kingdom | 2016 | $8.7B | Private |
| 14 | Sunnova | Houston | United States | 2012 | $8.3B | IPO 2019 |
| 15 | Ningbo Shanshan | Ningbo | China | 1992 | $7B | IPO 1996 |
| 16 | Enverus | Austin | United States | 1999 | $6.5B | Private |
| 17 | Back Market | Paris | France | 2014 | $5.7B | Private |
| 18 | Scatec | Oslo | Norway | 2007 | $5.6B | IPO 2014 |
| 19 | Helion Energy | Everett | United States | 2013 | $5.4B | Private |
| 20 | Pacific Fusion | San Diego | United States | 2023 | $5.4B | Private |
| 21 | Fuse Energy | London | United Kingdom | 2022 | $5B | Private |
| 22 | Stegra | Stockholms kommun | Sweden | 2020 | $4.1B | Private |
| 23 | Aurora Solar | San Francisco | United States | 2013 | $4B | Private |
| 24 | TerraPower | Bellevue | United States | 2008 | $3.9B | Private |
| 25 | Ayar Labs | Santa Clara | United States | 2015 | $3.8B | Private |
| 26 | Enphase Energy | Barstow | United States | 2006 | $3.8B | IPO 2012 |
| 27 | Hithium | Xiamen | China | 2019 | $3.5B | Private |
| 28 | Navitas Semiconductor | El Segundo | United States | 2013 | $3.3B | Private |
| 29 | Vivint Solar | Provo | United States | 2011 | $3.2B | Private |
| 30 | CanSemi | Guangzhou | China | 2017 | $3B | Private |
| 31 | Dynanonic | Shenzhen | China | 2007 | $3B | IPO 2019 |
| 32 | Inxeption | Brisbane | United States | 2017 | $3B | Private |
| 33 | KoBold Metals | Berkeley | United States | 2018 | $3B | Private |
| 34 | Base Power | Austin | United States | 2023 | $3B | Private |
| 35 | Fermi America | Lubbock | United States | 2025 | $2.9B | IPO 2025 |
| 36 | Workrise | Austin | United States | 2014 | $2.9B | Private |
| 37 | Fervo Energy | Houston | United States | 2017 | $2.8B | Private |
| 38 | Climeworks | Zurich | Switzerland | 2009 | $2.8B | Private |
| 39 | TAE Technologies | Lake Forest | United States | 1998 | $2.6B | Private |
| 40 | SolarCity | San Mateo | United States | 2006 | $2.6B | IPO 2012 |
| 41 | Jetti Resources | Boulder | United States | 2014 | $2.5B | Private |
| 42 | Enpal | Berlin | Germany | 2017 | $2.5B | Private |
| 43 | SolarEdge Technologies | Herzliya | Israel | 2006 | $2.5B | IPO 2015 |
| 44 | Gokin Solar | Zhuhai | China | 2019 | $2.4B | Private |
| 45 | Eos Energy Enterprises | Edison | United States | 2007 | $2.4B | IPO 2020 |
| 46 | NuScale Power | Corvallis | United States | 2007 | $2.4B | Private |
| 47 | 1KOMMA5° | Hamburg | Germany | 2021 | $2.4B | Private |
| 48 | Altus Power | Stamford | United States | 2009 | $2.3B | Private |
| 49 | AVAIO Digital | New York City | United States | 2021 | $2.3B | Private |
| 50 | Solax Power | Hangzhou | China | 1998 | $2.2B | IPO 2024 |
| 51 | Aerospace Lithium Battery Technology | Yangzhou | China | 2020 | $2.1B | Private |
| 52 | Form Energy | Somerville | United States | 2017 | $2B | Private |
| 53 | Valar Atomics | El Segundo | United States | 2023 | $2B | Private |
| 54 | Smart Metering Systems | Glasgow | United Kingdom | 2009 | $1.9B | IPO 2011 |
| 55 | SPIC Hydrogen Energy | Dongcheng District | China | 2017 | $1.8B | Private |
| 56 | Shanghai Meikesheng Energy Storage Technology | Tangshan City | China | — | $1.8B | Private |
| 57 | Shanghai Qiyuan Core Power Technology | Qingpu District | China | 2020 | $1.8B | Private |
| 58 | Huasheng New Energy | Xuancheng | China | 2020 | $1.6B | Private |
| 59 | Newcleo | Lyon | France | 2021 | $1.6B | Private |
| 60 | Cognite | Tempe | United States | 2016 | $1.6B | Private |
| 61 | Energy Exemplar | Adelaide | Australia | 1999 | $1.6B | Private |
| 62 | PureCycle Technologies | Orlando | United States | 2015 | $1.6B | IPO 2021 |
| 63 | Lunar Energy | Mountain View | United States | 2020 | $1.5B | Private |
| 64 | Uplight | Boulder | United States | 2019 | $1.5B | Private |
| 65 | Ceres | Horsham | United Kingdom | 2001 | $1.5B | IPO 2004 |
| 66 | Arcadia | Washington DC | United States | 2014 | $1.4B | Private |
| 67 | FoxESS | Wenzhou | China | 2019 | $1.4B | Private |
| 68 | PCG Power | Hangzhou | China | 2022 | $1.4B | Private |
| 69 | Plejd | Mölndals kommun | Sweden | 2009 | $1.3B | IPO 2016 |
| 70 | OVO Energy | Bristol | United Kingdom | 2008 | $1.3B | Private |
| 71 | Sidewalk Infrastructure Partners | New York City | United States | 2019 | $1.3B | Private |
| 72 | Terrestrial Energy | Charlotte | United States | 2013 | $1.2B | Private |
| 73 | Bestpath | Qingpu District | China | 2019 | $1.2B | Private |
| 74 | Renewable Japan | Tokyo | Japan | 2012 | $1.2B | IPO 2021 |
| 75 | Source Global | Tempe | United States | 2014 | $1.2B | Private |
| 76 | Summit Carbon Solutions | Ames | United States | 2021 | $1.1B | Private |
| 77 | Amarenco | Cork | Ireland | 2013 | $1.1B | Private |
| 78 | Qingdian Photovoltaic Technology | Hefei | China | 2022 | $1B | Private |
| 79 | Palmetto | Charlotte | United States | 2009 | $1B | Private |
| 80 | Redaptive | Denver | United States | 2013 | $1B | Private |
| 81 | Innovyze | Monrovia | United States | 1996 | $1B | Private |
| 82 | TechMet | Dublin | Ireland | 2017 | $1B | Private |
| 83 | Enverus Intelligence Research (formerly RSEG) | Calgary | Canada | 1998 | $1B | Private |
| 84 | Electric Hydrogen | Natick | United States | 2020 | $1B | Private |
| 85 | Nexamp | Boston | United States | 2007 | $1B | Private |
| 86 | Gradiant | Woburn | United States | 2013 | $1B | Private |
| 87 | EcoFlow | San Francisco | United States | 2016 | $1B | Private |
| 88 | Svante | Burnaby | Canada | 2007 | $1B | Private |
| 89 | Phenna | Nottingham | United Kingdom | 2018 | $1B | Private |
| 90 | Energy Vault | Lugano | Switzerland | 2017 | $815M | IPO 2022 |
| 91 | Aihuishou | Huangpu | China | 2011 | $777M | IPO 2021 |
| 92 | Shanghai Haiyouwei New Materials | Huangpu | China | 2009 | $758M | IPO 2021 |
| 93 | Li-Cycle | Toronto | Canada | 2016 | $433M | IPO 2020 |
| 94 | Stem | San Francisco | United States | 2009 | $365M | Private |
| 95 | Aspen Aerogels | Northborough | United States | 2001 | $286M | IPO 2014 |
| 96 | LanzaTech | Skokie | United States | 2005 | $261M | Private |
| 97 | View | Milpitas | United States | 2007 | $181M | Private |
| 98 | SmartRent | Scottsdale | United States | 2017 | $159M | Private |
| 99 | Rubicon | Lexington | United States | 2008 | $79M | Private |
| 100 | Infinis Energy | Hardingstone | United Kingdom | 2006 | — | IPO 2013 |
| 101 | Solect Technology Group | Hopkinton | United States | 1993 | — | Private |
| 102 | Heliogen | Pasadena | United States | 2013 | $-18M | Private |
Thoroughbreds — the $100M+ revenue tier
Dealroom's revenue milestone: 57 Energy companies past $100M in annual revenue, proof of traction beyond paper valuations.
| # | Company | HQ city | Country | Founded | Valuation | Status |
|---|---|---|---|---|---|---|
| 1 | Enlight Renewable Energy | Tel Aviv-Yafo | Israel | 2008 | $17B | IPO 2010 |
| 2 | Trina Solar | China | China | 1997 | $8.9B | IPO 2006 |
| 3 | JA SOLAR | Baoshan District | China | 2005 | $8B | IPO 2007 |
| 4 | Ginlong Technologies | Ningbo | China | 2005 | $6.1B | IPO 2019 |
| 5 | GCL-Poly Energy Holdings | Hong Kong | Hong Kong | 2006 | $5.4B | IPO 2007 |
| 6 | Ronbay Technology | China | China | 2014 | $4.3B | IPO 2019 |
| 7 | Easpring Material Technology | Dongcheng District | China | 2001 | $3.9B | IPO 2010 |
| 8 | Vita Coco | New York City | United States | 2003 | $3.6B | IPO 2021 |
| 9 | RENOVA Japan | Tokyo | Japan | 2000 | $3.3B | IPO 2017 |
| 10 | Beijing Jingyuntong Technology | Dongcheng District | China | 2002 | $1.7B | IPO 2011 |
| 11 | Azure Power | India | India | 2008 | $1.7B | IPO 2016 |
| 12 | Inner Mongolia Xiaocao Digital Ecological Industry | China | China | 2001 | $1.5B | IPO 2024 |
| 13 | IndiaMART | India | India | 1996 | $1.3B | IPO 2019 |
| 14 | ENVIRIA | Frankfurt | Germany | 2017 | $1.2B | Private |
| 15 | EnergyVision | Ghent | Belgium | 2014 | $958M | IPO 2025 |
| 16 | Tibber | Sunnfjord | Norway | 2016 | $726M | Private |
| 17 | Shinry Technologies | Shenzhen | China | 2005 | $682M | IPO 2018 |
| 18 | REC Silicon | Moses Lake | United States | 1996 | $680M | IPO 2006 |
| 19 | Deutsche Rohstoff AG | Heidelberg | Germany | 2006 | $666M | IPO 2010 |
| 20 | Opus Energy | Oxford | United Kingdom | 2002 | $449M | Private |
| 21 | Bevi | Boston | United States | 2013 | $420M | Private |
| 22 | Bulb | London | United Kingdom | 2014 | $416M | Private |
| 23 | Jiangsu Tongda Power Technology | Dongcheng District | China | 2008 | $386M | IPO 2011 |
| 24 | Venterra Group | London | United Kingdom | 2021 | $317M | Private |
| 25 | Inspired | Preston | United Kingdom | 2000 | $256M | Private |
| 26 | Matsmart | Stockholms kommun | Sweden | 2014 | $251M | Private |
| 27 | Ekwateur | Paris | France | 2015 | $198M | Private |
| 28 | Aker Horizons | Bærum | Norway | 2020 | $184M | IPO 2021 |
| 29 | Rever | Tokyo | Japan | 1904 | $172M | IPO 2020 |
| 30 | Bushveld Minerals | Johannesburg | South Africa | 2012 | $133M | IPO 2012 |
| 31 | Effy | Paris | France | 2008 | $132M | Private |
| 32 | Umeme | Kampala | Uganda | 2005 | $113M | IPO 2012 |
| 33 | SolTech Energy | Stockholms kommun | Sweden | 2006 | $109M | IPO 2015 |
| 34 | Otovo | Oslo | Norway | 2016 | $98M | IPO 2021 |
| 35 | Novedo Holding | Stockholms kommun | Sweden | 2020 | $91M | Private |
| 36 | Holaluz | Barcelona | Spain | 2010 | $69M | IPO 2019 |
| 37 | Columbus Energy | Kraków | Poland | 2010 | $68M | Private |
| 38 | ESFORIN | Essen | Germany | 2014 | $50M | Private |
| 39 | Limejump | London | United Kingdom | 2014 | $24M | Private |
| 40 | Colabitoil Sweden AB | Gävle kommun | Sweden | 2013 | $23M | Private |
| 41 | DualSun | Marseille | France | 2009 | $22M | Private |
| 42 | Greenchoice | Rotterdam | Netherlands | 2001 | $1M | Private |
| 43 | Occhio | Munich | Germany | 1999 | — | Private |
| 44 | OX2 | Stockholms kommun | Sweden | 2004 | — | IPO 2021 |
| 45 | Artec Aqua | Ålesund | Norway | 2002 | — | Private |
| 46 | Scanmetals | Slagelse | Denmark | 2012 | — | Private |
| 47 | Vital Energi | Darwen | United Kingdom | 2000 | — | Private |
| 48 | Certinergy | Paris | France | 2008 | — | Private |
| 49 | Otary | Ostend | Belgium | 2011 | — | Private |
| 50 | Lampiris | Liège | Belgium | 2003 | — | Private |
| 51 | Spencer-Ogden | London | United Kingdom | 2010 | — | Private |
| 52 | Akuo Energy | Paris | France | 2007 | — | Private |
| 53 | Spark Energy | Selkirk | United Kingdom | 2006 | — | Private |
| 54 | URBASOLAR | Montpellier | France | 2006 | — | Private |
| 55 | Better Energy | Frederiksberg | Denmark | 2012 | — | Private |
| 56 | Next Kraftwerke | Cologne | Germany | 2009 | — | Private |
| 57 | Landwärme | Munich | Germany | 2007 | — | Private |
Frequently asked questions
How many Energy unicorns are there?
Dealroom tracks 102 Energy companies that reached a $1B+ valuation as of July 2026, worth $434.9B combined. 9 of them are valued at $10B or more.
What are the biggest Energy unicorns?
The three most valuable are Bloom Energy, Sungrow Power Supply, First Solar.
What counts as a unicorn — and what is a thoroughbred?
A unicorn is a company that reached a $1B+ valuation, verified by Dealroom. A thoroughbred is Dealroom's revenue-based tier: a startup-era company generating $100M+ in annual revenue — traction, not just paper valuation.