Method & scope
- Energy-native only. Every company here sells something that itself produces, moves, stores, converts or displaces energy. The energy function is the product, not a by-product. That excludes companies whose product merely happens to use less energy, and companies that operate assets someone else electrified: a vehicle manufacturer is in, a fleet operator running those vehicles is out.
- Window: 8 Jan 2024 to 9 Sep 2026.
- Equity only. Every round here is equity raised by the company. Debt and green-loan facilities, project finance, grants and undrawn capital commitments are excluded entirely, however material the financing event. Where a round blends equity with debt or grant, only the equity portion is counted, and where the split is not disclosed, the card says so.
- Headquarters in the US, Europe, UK or India only.
- Each round sits in exactly one of eleven sectors, assigned by what the company sells. Carbon was removed as a sector in this version: companies whose product is the removal, capture, accounting or trading of CO2 do not sell energy, so they fall outside the energy-native test. The ones that do sell energy were moved to the sector that describes what they make.
- Build type records what the company actually builds. Hardware, Software, or Hardware + Software where the product is genuinely both.
- Chain position records where the buyer sits on the physical energy chain. Inputs sells to the firms that build chain assets, Upstream makes energy, Midstream moves or trades it, and Downstream consumes it. Value derived after analysing sub-sector characteristics and buyer segments, rather than from the Sector definition.
- Every card links to a named source. Amounts are the equity raised, not cumulative totals.
Sector tests
- Supply chain: sells to another manufacturer
- Gen: the output is electricity
- Storage: sells a deployed storage asset
- Fuels: the output is a molecule
- T&D: moving electrons
- Trading: monetising electrons in a market
- Efficiency: reduces energy at the load
- Transport: energy for mobility
- Industry & heat: decarbonising process heat
- Ops: running energy assets better
- Software & fintech: financing and transacting energy
Static snapshot compiled 30 Aug 2026. Figures are as disclosed at announcement and are
not adjusted for currency movement; USD equivalents are approximate. Rounds carrying a flagged note involve a
reporting ambiguity: read the note before citing the figure. This page is a reference tool, not investment advice.
Home