Energy startups in Europe raised $13.6 billion in 2022, a 28% increase over 2021. Given that the sector has already raised $6.5 billion this year, this level is anticipated to be maintained.
Energy startups in Europe raised $13.6 billion in 2022, a 28% increase over 2021. Given that the sector has already raised $6.5 billion this year, this level is anticipated to be maintained. With 430 million euros raised in a Series B round in June, German solar infrastructure firm 1KOMMA5° has made the largest contribution. As fresh investment drives personnel increase, startups frequently seek growth by hiring more aggressively.
Data from Dealroom was used to determine the top 10 energy startups in Europe with the fastest growth rates over the previous year, excluding early-stage startups. To be taken into consideration, a company needed to have raised at least $50 million.
1KOMMA5°
Founded: 2021
HQ: Germany
Team growth this year: 263% to 229 employees
Total funding: €730m
Unicorn 1KOMMA5°, a manufacturer of solar panels, leads the list with a significant increase in manpower. This comes after a €200 million Series A financing in April 2022 and a €430 million Series B raise in June 2023. One of Europe’s most valuable solar businesses, it aids in the installation of renewable energy alternatives in residential buildings.
Newcleo
Founded: 2021
HQ: UK
Team growth this year: 181% to 239 employees
Total funding: €411.5m
Newcleo, a nuclear energy startup located in London, is constructing nuclear reactors with the goal of decreasing nuclear waste and providing a reliable alternative energy source. It received €300 million in investment in June 2022, then in early August 2023 newcleo said it will buy nuclear pump manufacturer Rütschi Group for €68.9 million.
Electra
Founded: 2021
HQ: France
Team growth this year: 175% to 184 employees
Total funding: €175m
Electra, a Paris-based company that offers electric car charging stations, asserts that it can recharge batteries more quickly than any other company in the industry.
The software analyzes neighboring power stations to show users which one is ideal for their car and lets them reserve a place in advance. It received a €160 million Series A round of funding in June 2022 from investors such as Eurazeo, Serena, and 574 Invest.
Powerdot
Founded: 2018
HQ: Portugal
Team growth this year: 144% to 134 employees
Total funding: €150m
Energy startups situated in five cities of Europe may take use of electric car charging stations that are installed and maintained by Powerdot, a company based in Lisbon. In June 2022, it received €150 million from Antin Infrastructure Partners.
Enpal
Founded: 2017
HQ: Germany
Team growth this year: 137% to 1,943 employees
Total funding: €2.2bn (€1.7bn in debt, €466m in equity)
Sun unicorn For German house owners who desire to produce their own solar energy, Enpal provides various renting and purchasing alternatives for solar panels. It received €215m in a Series D round in January 2023 at a valuation of $2.5bn, and since then, €430m in debt has been raised. Investors have supported the firm, including BlackRock, SoftBank, and HV Capital.
Verkor
Founded: 2020
HQ: France
Team growth this year: 123% to 227 employees
Total funding: €350m
Verkor is attempting to increase the output of battery cells in Europe. It features a manufacturing innovation center where cell and module products are produced.
It also has ambitions to build a bigger gigafactory after opening its first megafactory in 2023, which will begin producing battery cells. In November of last year, it received €250m from Bpifrance, the European Investment Bank, and Demeter. According to a recent Sifted story, a €2 billion fundraising will soon be announced.
Protium Green Solutions Ltd.
Founded: 2019
HQ: UK
Team growth this year: 103% to 71 employees
Total funding: £40.5m (€47.5m)
For businesses aiming to decarbonize operations, Protium Green Solutions creates green hydrogen infrastructure. It secured £40.5 million in June 2022 from SWEN Capital Partners and Barclays.
Greener Power Solutions
Founded: 2017
HQ: The Netherlands
Team growth this year: 100% to 56 employees
Total funding: €53m
Greener Power Solutions, a mobile battery supplier, provides a more environmentally friendly energy supply option for building sites and special events, as well as installing electric car charging stations and providing momentary power outages solutions. It acquired €45 million from DIF Capital Partners in June 2022.
Carbfix
Founded: 2006
HQ: Iceland
Team growth this year: 95% to 39 employees
Total funding: $117m (€107.5m) in grants
Carbon dioxide emissions may be converted into subterranean stone using a CO2 storage technology provided by Carbfix. The company has shortened the time frame to less than two years from the thousands of years it would normally take for this process to occur organically.
In June 2022, it was awarded a $117 million grant from the European Investment Fund, European Innovation Council, and SMEs Executive Agency (EISMEA).
Volta Trucks
Founded: 2019
HQ: Sweden
Team growth this year: 87% to 801 employees
Total funding: $412m (€378.8m)
For the commercial transportation of goods, Volta Trucks is creating an all-electric vehicle and is providing a truck-as-a-service option that includes maintenance, charging, and insurance for a monthly cost. It raised $62 million in its Series C round in November 2022, and more recently, in April 2023, it received €24.6 million from Germany’s Federal Ministry of Transport and Digital Infrastructure.