This week, the MIT Technology Review unveiled its 2026 list of Climate Tech Companies to Watch, an annual initiative aimed at showcasing the most promising advancements and innovative firms in the climate and energy technology sector. The list serves as a beacon of hope, highlighting creative solutions that can potentially transform global energy systems and facilitate a transition away from fossil fuels, thereby addressing the pressing issue of greenhouse gas emissions.
The selected companies reflect significant trends in the current landscape of climate technology. Notably, China continues to emerge as a global leader in energy innovation. The country boasts the world’s largest electrical grid, with renewable energy sources being rapidly integrated. One standout on this year’s list is Envision Energy, which has successfully installed over 100 gigawatts of wind power globally and over 50 gigawatt-hours of battery storage. Envision is expanding its reach beyond China, embarking on projects in countries such as Germany, Brazil, and Australia, with new initiatives planned in Vietnam.
Battery technology is another area where Chinese companies are making strides, particularly in the development of next-generation solid-state batteries. WeLion New Energy has achieved remarkable lab results, demonstrating an energy density of 824 watt-hours per kilogram—more than triple that of standard lithium-ion batteries. The company is also pursuing semi-solid-state batteries, which may be commercially viable sooner than their fully solid-state counterparts.
In the U.S., the demand for reliable energy sources is driving innovation, particularly in data center operations. This year’s list features three American companies, including Fervo Energy, which is advancing geothermal power through innovative techniques like horizontal drilling and hydraulic fracturing. The company recently went public, raising $2.2 billion to support its goal of operationalizing one gigawatt of geothermal plants by 2030. Meanwhile, X-energy is developing helium-cooled small modular nuclear reactors, offering the flexibility to support various applications, including potential partnerships with major corporations like Amazon and Dow.
Energy storage solutions are critical as renewable energy sources like solar and wind proliferate. Form Energy is notable for its iron-air batteries, which promise cost-effective long-duration storage. The company is working on a groundbreaking project that could become the world’s largest battery installation, supplying energy for a Google data center by 2028. Similarly, Energy Dome is utilizing compressed carbon dioxide for energy storage, a cheaper alternative for long-duration needs, with plans for over 30 gigawatt-hours of capacity globally. Moment Energy aims to repurpose EV batteries for backup power, contributing to sustainability by addressing the expected surplus of used batteries by 2030.
While the climate tech landscape faces challenges, there is reason for optimism. The companies featured in this year’s list exemplify the innovative spirit necessary to tackle climate change and promote a sustainable energy future.
Source: Why we’re watching these climate tech companies via MIT Technology Review