This week, we released our 2026 version of our Climate Tech Companies to Watch list. It’s an annual project that the MIT Technology Review team puts together. Our goal is to highlight some of the promising, interesting advances and firms we think are worth paying attention to in the world of climate and energy technology.
The list is always a little ray of hope for me—there are some fascinating ideas out there for changing how we power our world or moving away from fossil fuels to reduce the greenhouse-gas emissions that cause climate change.
Our chosen companies tend to reflect several aspects of the current moment. Here are some of the companies we picked and the key themes worth highlighting.
China is the center of the climate and energy tech world
Forgive me—I know I’ve made this point before. Feel free to call me Captain Obvious. But I think China’s dominance in energy technology is a global trend that bears repeated mentioning.
China is home to the world’s largest grid, and renewables are coming online more quickly than I can wrap my head around. Contributing to that boom is Envision Energy, a renewables giant appearing on our list for the second time. The company has installed over 100 gigawatts of wind power worldwide, as well as over 50 gigawatt-hours of battery storage.
Like many other Chinese companies right now, Envision is looking beyond the crowded Chinese market and setting its sights abroad, with projects in Germany, Brazil, and Australia and upcoming work in Vietnam.
China is also leading innovation in key technologies. I’ve been fascinated by the potential for next-generation batteries coming out of its companies: All the big ones, along with a host of smaller ones, are racing to develop solid-state batteries. They could be both safer than existing EV batteries and longer in range.
WeLion New Energy is particularly interesting. The battery company announced a big lab result last year, achieving 824 watt-hours per kilogram—more than three times the energy density of a standard lithium-ion battery today. Lab results in battery research are notoriously difficult to scale, but WeLion is also working to deploy semi-solid-state batteries, which could come to fruition faster than purely solid-state cells while still improving on lithium-ion’s performance.
Everybody wants a piece of the data center pie
We included just three companies from the US on the list, and two of them have received a major boost from Big Tech as companies look to power data centers. (The third, Brimstone, is leaning into another political hot topic, critical minerals.) Technologies that can provide consistent power are in high demand.
Fervo Energy is bringing next-generation geothermal power to the grid by using horizontal drilling and hydraulic fracturing to make it practical in more places. The company went public in May, raising $2.2 billion in its IPO, and plans to have a gigawatt’s worth of plants operational by the end of 2030.
X-energy is building helium-cooled small modular nuclear reactors. The reactors’ small size lends flexibility, and the company is currently working on a 320-megawatt cluster of them in collaboration with Amazon in Richland, Washington. (For what it’s worth, I’m interested in what this technology could do for industrial facilities—the company has a deal with Dow that could see it deployed at one of the company’s chemical plants in the early 2030s.)
The grid needs support, and energy storage will be a key piece moving forward
I know, I know—I haven’t stopped talking about batteries since I started writing this newsletter four years ago. But the energy storage market has surpassed even my expectations over that time. And as solar and wind quickly come online, they need storage to help them meet more of the grid’s demand.
Form Energy is on the list for a third time for its iron-air batteries, which could enable cheaper long-duration energy storage. The company has a massive project in the works, to the tune of 30 gigawatt-hours, which will be used to help power a Google data center. It could be the world’s largest battery project in terms of capacity by the time it comes online, which is expected to happen in phases between 2028 and 2031.
Taking another tack, Energy Dome is using compressed carbon dioxide to store energy on the grid. This technology is already cheaper than lithium-ion batteries for longer durations (think 10 hours or more), and the company is working to scale quickly. I covered the company in 2022, before it had its first commercial plant running. Now it has plans for over 30 gigawatt-hours’ worth of plants around the world, including one with Google in Ireland that’s slated to come online in 2028.
And Moment Energy is working to use the million EV batteries that are expected to reach the end of their life by 2030. The company has a facility in Vancouver, British Columbia, that repurposes used batteries for backup power.
This year hasn’t been all sunshine and rainbows for climate tech. But I’m hopeful that some of the companies on this list, and the technologies they build, will keep nudging us in the right direction.
This article is from The Spark,MIT Technology Review’s weekly climate newsletter. To receive it in your inbox every Wednesday,sign up here.
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