The world is in the throes of a climate catastrophe, and in the midst of such a situation, innovative startups are emerging with bold solutions with the aim of a more sustainable future.
In 2024, a new wave of climate tech companies is rising to the challenge, developing cutting-edge technologies that address everything from renewable energy and carbon capture to sustainable transportation and resource management.
These startups are not only helping to combat environmental challenges but are also shaping the industries of tomorrow. Here’s a look at some of the most promising climate tech companies to watch in the new year.
1. Aurora Solar
Year founded: 2013
Location: San Francisco, CA
Funding: $523.5M (Series D)
What they do: Aurora Solar is a SaaS company that provides remote shade analysis for solar designs. Using aerial imagery, they assist solar energy companies in evaluating the financial returns of their designs and generating sales proposals. The company claims that more than 40,000 solar projects are created weekly using Aurora’s platform. If true, it is truly a company to watch.
READ: Ullas Naik: The seed investor behind AppLovin’s $100 billion success (November 27, 2024)
2. Rad Power Bikes
Year founded: 2007
Location: Seattle, WA
Funding: $329.3M (Series D)
What they do: Rad Power Bikes is starting to make a name for itself in the manufacture and sales of e-bikes and related accessories. Through their power bikes, the company hopes to revolutionize the future of transport. Between 2019 and 2020, Rad Power Bike almost tripled its sales revenue and is hoping to see continued growth in the future.
3. AMP (Formerly AMP Robotics)
Year founded: 2014
Location: Louisville, CO
Funding: $175.1M (Series C)
What they do: AMP is a tech startup that’s created an AI-powered robotic system that can recycle waste. The company made it to the CNBC Disruptor 50 list in 2021. The technology they’re using can reportedly identify recyclable materials with an accuracy rate of 99%.
READ: California construction tech startup Pegbo secures funds to support small businesses (November 29, 2024)
4. Form Energy
Year founded: 2017
Location: Somerville, MA
Funding: $965.8M (Grant)
What they do: Form Energy specializes in creating and commercializing affordable renewable energy storage solutions. Their batteries are engineered to store solar and wind energy for long durations. According to their website, the company’s battery technology aims to make it possible for the global electricity grid to operate entirely on renewable energy. After receiving a $30 million grant from the California Energy Commission in December 2023, the startup is now seeking to raise an additional $500 million to advance the development of long-duration, multi-day batteries.
5. ZeroAvia
Year founded: 2017
Location: Hollister, CA
Funding: $260M (Grant)
What they do: ZeroAvia hoped to revolutionize aviation by offering a zero-emission hydrogen powertrain for airplanes. Their goal is to make aviation more sustainable by cutting down on costs and CO2 emissions. Their website states that they anticipate a demand for over 100,000 units of their powertrain in the next 10 years.
6. Universal Hydrogen
Year founded: 2020
Location: Hawthorne, CA
Funding: $82.5M (Corporate Round)
What they do: Another company that is making waves in the aviation industry is Universal Hydrogen, a cleantech company that’s working on developing an infrastructure for hydrogen-powered aviation. The startup’s goal is to make carbon-free aviation more accessible. Reportedly, so far, Universal Hydrogen has received investments from Airbus Ventures and JetBlue Technologies Ventures.
7. Pachama
Year founded: 2018
Location: San Francisco, CA
Funding: $88.3M (Series B)
What they do: Pachama, a cleantech company, provides a marketplace where organizations can buy carbon credits. Using AI and machine learning, they identify and verify forest projects for carbon offsetting. Over 1,000 companies currently purchase carbon credits through Pachama’s marketplace.
As this year comes to an end and we move into 2025, these innovative climate tech startups are paving the way for a more sustainable future. With their groundbreaking solutions and relentless drive, they are reshaping industries and addressing some of the planet’s most pressing challenges.
As the demand for green technologies continues to grow, these companies are leading the charge toward a cleaner, more resilient world. Keep an eye on these trailblazers—their impact is only just beginning.