17 Booming CleanTech Companies & Startups In 2024
As concerns about energy usage and climate change continue to rise, the cleantech industry is more important than ever.
According to S&P Global Commodity Insights, investment in cleantech is expected to reach $800 billion in 2024 and $1 trillion by 2030.
Much of this investment will be spent on the electric vehicle market. In fact, a record 1.2 million electric vehicles were sold in 2023.
This growth is leading the way for the cleantech industry, among other sustainability trends.
With that, here are 17 cleantech startups we’ve identified that are growing fast and disrupting an innovative industry.
1. Rebel Energy
5-year search growth: 456%
Search growth status: Exploding
Year founded: 2016
Location: London, England
Funding: $778.8K (Equity Crowdfunding)
What they do: In England, 13% of households are considered fuel-poor. To combat this issue, Rebel Energy sources renewable energy from wind, solar, and hydro farms in the UK. Residents can sign up for Rebel Energy's Smart Export Guarantee, meaning they'll get paid for all electricity they export to the grid using small-scale generators.
The startup also launched a mobile app where customers can monitor their spending and energy usage in real-time. It has over 5,000 total downloads on the Google Play store.
2. BluSmart
5-year search growth: 433%
Search growth status: Exploding
Year founded: 2019
Location: Gurugram, India
Funding: $511.3M (Series B)
What they do: BluSmart is an Indian ride-sharing company, similar to Uber, that only uses electric vehicles. The company has a fleet of more than 7,000 EVs, with plans to increase its fleet to 10,000 by the end of 2024. They make it easy for drivers to provide rides with more than 4,400 charging stations across Delhi-NCR and Bangalore. The startup has provided more than 12.5 million all-electric trips that covered 410 million clean kilometers.
In May 2024, the startup raised an additional $24 million in Series B funding to expand its market presence and enter the Dubai market this year.
3. nZero
5-year search growth: 4,100%
Search growth status: Regular
Year founded: 2016
Location: Reno, Nevada
Funding: $16M (Series A)
What they do: nZero is a climate accountability and decarbonization startup that provides real-time carbon emissions tracking data for governments and enterprise businesses. Unlike other carbon accounting solutions that use outdated third-party figures, NZero collects first-party data and uses machine learning to provide predictive insights. In May 2023, the startup raised a $16 million Series A funding round led by venture capital firm Fifth Wall.
4. Airmee
5-year search growth: 277%
Search growth status: Exploding
Year founded: 2018
Location: Stockholm, Sweden
Funding: $41.2M (Series B)
What they do: Airmee is a tech-powered logistics startup that makes carbon-neutral deliveries possible in 30+ European cities. The startup developed a proprietary Smart Logistics Platform to optimize delivery routes and provide real-time package tracking.
Instead of operating its own fleet of transport vehicles, Airmee partners with third-party courier companies to improve delivery efficiency. According to their website, they've helped make over 21 million deliveries to 10+ million customers.
5. Universal Hydrogen
5-year search growth: 208%
Search growth status: Regular
Year founded: 2019
Location: Hawthorne, California
Funding: $82.5M (Corporate Round)
What they do: Universal Hydrogen is developing carbon-free hydrogen-powered commercial aircraft. Not only will these planes reduce emissions, but hydrogen contains 3x more energy than jet fuel. This means longer non-stop trips, less weight, and lower costs. In March 2023, the company completed its first ever trip with the hydrogen-powered regional airliner, the Lightning McClean.
6. Enpal
5-year search growth: 1,150%
Search growth status: Exploding
Year founded: 2017
Location: Berlin, Germany
Funding: $3.5B (Debt Financing)
What they do: Enpal is a solar-as-a-service company that rents out solar systems and handles all service and maintenance. While solar is the startup's primary focus, they also provide energy storage, EV chargers, and smart energy software. Enpal was recognized as Germany’s first Greentech unicorn and now delivers 2,000 new solar system installs each month. The company added 30,000 new customers and increased revenue to EUR 900 million in 2023.
7. Renogy
5-year search growth: 203%
Search growth status: Exploding
Year founded: 2010
Location: Ontario, California
Funding: $30.9M (Series E)
What they do: Renogy currently develops renewable energy tech products, including solar kits, chargers, batteries, and more. Their solar panels and renewable energy equipment help individuals harness clean, sustainable power and reduce their environmental impact. The company's goal is to make energy independence possible for 50 million people by 2030.
8. ChargePoint
5-year search growth: 165%
Search growth status: Regular
Year founded: 2007
Location: Campbell, California
Funding: $1.4B (Grant)
What they do: ChargePoint currently provides the largest network of EV charging stations in the world with over 20,000 charging locations across North America and Europe. In the US alone, over two million EV drivers have used a ChargePoint charging station at least once. Overall, the company has provided 145 million charging sessions to date.
9. e-Zinc
5-year search growth: 7,160%
Search growth status: Regular
Year founded: 2012
Location: Toronto, Canada
Funding: $73.2M (Series A)
What they do: e-Zinc has created a sustainable long-duration energy storage system. They use electrochemical technology to store energy in zinc metal for simpler and longer-lasting storage. The startup hopes to become the new substitute for diesel generators as a low-emission energy storage solution. Their zinc-air battery lasts several days and is recyclable, cheaper, and more sustainably produced compared to lithium-ion.
In June 2024, the startup raised $31 million in Series A funding to accelerate product development and continue building its new pilot manufacturing facility.
10. Northvolt
5-year search growth: 554%
Search growth status: Exploding
Year founded: 2016
Location: Stockholm, Sweden
Funding: $13.8B (Debt Financing)
What they do: Northvolt is a Swedish battery manufacturer specializing in lithium-ion technology for electric vehicles. The startup uses clean energy to develop new batteries with a 90% lower carbon footprint than coal energy batteries. Northvolt maintains a low-carbon footprint by powering its factories with renewable energy and recycling all of its batteries.
In January 2024, the company raised $5 billion to expand Northvolt Ett, Europe's first gigafactory, and the adjacent recycling plant, Revolt Ett.
11. May Mobility
5-year search growth: 106%
Search growth status: Regular
Year founded: 2017
Location: Ann Arbor, Michigan
Funding: $302.6M (Series D)
What they do: May Mobility has developed various autonomous vehicle technologies to make cities safer and more sustainable. The startup's Sensor Stack and Multi-Policy Decision Making platform will monitor the road and run simulations to predict driving situations and potential hazards. In the previous five years, May Mobility has provided more than 320,000 autonomy-enabled rides in the United States and Japan.
12. Moment Energy
5-year search growth: 182%
Search growth status: Regular
Year founded: 2019
Location: Coquitlam, Canada
Funding: $22.7M (Grant)
What they do: By 2030, electric car sales are expected to account for 65% of total car sales. To achieve this sustainably, Moment Energy is turning retired electric vehicle batteries into battery energy storage systems. The company has second-life battery supply partnerships with numerous automakers, including Mercedes-Benz Energy.
13. Eco-Worthy
5-year search growth: 376%
Search growth status: Exploding
Year founded: 2007
Location: Los Angeles, California
Funding: Undisclosed
What they do: Eco-Worthy provides off-grid solar solutions, including lithium-ion batteries, solar panels, charging units, and more. Primarily, they've developed off-grid systems for RV, cabin, marine, and remote living. Since launching, the company has expanded into 60 countries and served more than 500,000 customers.
14. Recurrent
5-year search growth: 16%
Search growth status: Regular
Year founded: 2020
Location: Seattle, Washington
Funding: $24.3M (Series A)
What they do: Aiming to be the Carfax for EV batteries, Recurrent provides EV battery data and analytic reports for electric vehicle owners. More than 20,000 EV drivers use the Recurrent platform to track battery usage and generate updated reports about their battery’s range and performance.
The company's platform compares a user's battery health to their research based on 1 million miles driven daily from 65+ makes and models. In January 2024, Recurrent raised an additional $16 million in Series A funding.
15. Zypp Electric
5-year search growth: 2,133%
Search growth status: Regular
Year founded: 2017
Location: Gurgaon, India
Funding: $89.5M (Series C)
What they do: Zypp is an electric scooter rental and fleet management company. The company provides businesses with electric delivery vehicles, drivers, charging, maintenance support for last-mile deliveries, and a B2C electric bike subscription model for individual deliverers. In April 2024, Zypp claimed they tripled their revenue in FY24 and plans to grow to 100,000 vehicles in the next 18 months.
16. Zoomo
5-year search growth: 658%
Search growth status: Exploding
Year founded: 2017
Location: Sydney, Australia
Funding: $135.6M (Series B)
What they do: Zoomo is an Australian e-bike company offering fleet management and other services to major delivery companies. Every Zoomo e-bike includes eight hours of battery life, anti-theft GPS tracking, and 24/7 customer support. The company recently announced an exclusive partnership with Uber Eats with a mission to make 100% of all European food deliveries emission-free.
17. AMP (Formerly AMP Robotics)
5-year search growth: 18%
Search growth status: Regular
Year founded: 2014
Location: Louisville, Colorado
Funding: $175.1M (Series C)
What they do: A robotics startup, AMP uses AI and computer vision technology to automate recycling operations. The company has developed AMP One, an AI-powered sortation system that can precisely identify and sort recyclable materials like plastics, metals, and paper. In January 2024, AMP Robotics was named to Cleantech Group’s Global Cleantech 100 for the 5th straight year.
Conclusion
That concludes our list of the fastest-growing cleantech startups for 2024.
Collectively, these startups are utilizing advanced technologies to improve environmental sustainability in various industries. Notably, solar companies and EV startups are leading the way in reducing energy usage and emissions.
If you’re interested in learning more about this space, check out our resources on environment companies seeing growth and our regularly-updated analysis of sustainability trends.
