| TAE TechnologiesFoothill Ranch, CA, USA | Fusion#2 · Alternative / pulsed | $1.79B (pre-merger)Capital raised to date | no board | none | none | none |
| Helion EnergyEverett, WA, USA | Fusion#3 · Alternative / pulsed | ≈$1.5B raised; one tracker reports $3.2B committedCapital raised to date | 65▲ 2 | $4.0M1 awards | $11M2015-06-19 | 2015-07-06 |
| SHINE TechnologiesJanesville, WI, USA | Fusion#5 · Alternative / pulsed | ≈$1.0BCapital raised to date | no board | $394M8 awards | $18M2019-04-26 | 2019-06-28 |
| Pacific FusionFremont, CA, USA | Fusion#4 · Inertial | ≈$1.0B (Series A in milestone tranches)Capital raised to date | 28▲ 2 | none | none | none |
| Commonwealth Fusion SystemsDevens, MA, USA | Fusion#1 · Magnetic confinement | $4.0BCapital raised to date | 143▲ 7 | $2.8M2 awards | $1.8B2021-11-19 | 2021-12-02 |
| X-energyXERockville, MD, USA | Fission#1 · Advanced / SMR / microreactor | ≈$1.4B private + ≈$1.1B IPOCapital raised (disclosed) | 100 | $977M7 awards | none | 2026-08-13 |
| Valar AtomicsLos Angeles, CA, USA | Fission#2 · Advanced / SMR / microreactor | ≈$1.46B (incl. $1B Series B led by Sequoia)Capital raised (disclosed) | 109▼ 2 | none | none | none |
| TerraPowerBellevue, WA, USA | Fission#3 · Advanced / SMR / microreactor | $650M (Jun 2025) plus earlier roundsCapital raised (disclosed) | 97▲ 1 | $3.0M2 awards | none | none |
| Antares NuclearUSA | Fission#4 · Advanced / SMR / microreactor | ≈$471M (incl. $470M Series C)Capital raised (disclosed) | 87▼ 5 | $13M9 awards | $60M2026-08-03 | 2026-08-18 |
| RadiantEl Segundo, CA, USA | Fission#5 · Advanced / SMR / microreactor | ≥$465MCapital raised (disclosed) | 19▼ 15 | $2.6M3 awards | $269M2025-12-15 | 2025-12-30 |
| VEIRWoburn, MA, USA | Transmission & equipment#1 · Advanced lines and superconducting cables | $110M Series C ($225M total raised)Capital raised | 10▼ 2 | $32M2 awards | —2023-05-25 | 2023-05-25 |
| Form EnergySomerville, MA, USA | Long-duration storage#1 · Multi-day, thermal and mechanical storage | > $2B equity (incl. $750M Series G)Capital raised | 205▲ 6 | $7.3M4 awards | $335M2022-09-19 | 2022-10-04 |
| Antora EnergyCalifornia, USA | Long-duration storage#2 · Multi-day, thermal and mechanical storage | $550M Series C (total not stated)Capital raised | 41▲ 1 | $26M6 awards | $458M2026-07-20 | 2026-08-04 |
| HydrostorToronto, Canada | Long-duration storage#3 · Multi-day, thermal and mechanical storage | $230M equity round (total not stated)Capital raised | no board | none | $02025-11-21 | 2025-11-21 |
| Base PowerAustin, TX, USA | Distributed storage & VPPs#1 · Home batteries and virtual power plants | > $2.5B (incl. $1B Series D at $13B valuation)Capital raised | no board | none | none | none |
| Fervo EnergyFRVOHouston, TX, USA | Geothermal#1 · Next-generation geothermal | $2.2B IPO; ~$1.5B private before thatCapital raised | 68▲ 2 | $33M7 awards | —2025-12-10 | 2026-10-01 |
| Quaise EnergyCambridge, MA, USA | Geothermal#2 · Next-generation geothermal | $180M round (total $280M)Capital raised | 6▼ 1 | none | —2026-09-03 | 2026-09-03 |
| Sage GeosystemsHouston, TX, USA | Geothermal#3 · Next-generation geothermal | $97M Series B (total not stated)Capital raised | no board | $2.7M3 awards | —2024-09-09 | 2024-09-09 |
| USA Rare EarthUSARStillwater, OK, USA | Critical Minerals & Materials#1 · US supply-chain projects with federal backing | $277M funding + up to $1.3B loan (Commerce); ~8–16% stakeFederal support (equity, loans, commitments) | no board | $1.3B6 awards | none | 2026-10-01 |
| Crucible Metals (Korea Zinc JV)Tennessee, USA | Critical Minerals & Materials#2 · US supply-chain projects with federal backing | Conditional $1.4B (Defense); ~40% of JV per pressFederal support (equity, loans, commitments) | no board | none | none | none |
| Vulcan ElementsDurham, NC, USA | Critical Minerals & Materials#3 · US supply-chain projects with federal backing | $50M equity (Commerce) + $620M conditional loan (Defense)Federal support (equity, loans, commitments) | 61▲ 5 | $5.7M7 awards | —2025-08-20 | 2025-08-20 |
| MP MaterialsMPLas Vegas, NV, USA | Critical Minerals & Materials#4 · US supply-chain projects with federal backing | $400M preferred + $150M loan (Defense); ~15% stakeFederal support (equity, loans, commitments) | no board | $29M5 awards | none | 2026-11-06 |
| The Elmet GroupLewiston, ME, USA | Critical Minerals & Materials#5 · US supply-chain projects with federal backing | $200M at closing + up to $250M more (Defense); up to 19.9%Federal support (equity, loans, commitments) | no board | $3.0M6 awards | none | none |
| CrusoeSan Francisco, CA | Builders and operators#1 · Campus developers | ~3.9 GW (Abilene 1.15 GW, Abilene expansion 0.94 GW, Cheyenne 1.8 GW paused)Planned power at the big campuses tracked on the Data centers page | no board | none | none | none |
| Vantage Data CentersDenver, CO | Builders and operators#2 · Campus developers | ~3.3 GW (Shackelford 1.96 GW, Port Washington 1.3 GW)Planned power at the big campuses tracked on the Data centers page | no board | none | none | none |
| QTS Data CentersOverland Park, KS | Builders and operators#3 · Campus developers | ~3.2 GW (Cedar Rapids 1.59 GW, Richmond 0.92 GW, Eagle Mountain 0.41 GW, Hillsboro 0.24 GW)Planned power at the big campuses tracked on the Data centers page | no board | none | none | none |
| STACK InfrastructureDenver, CO | Builders and operators#4 · Campus developers | ~2.9 GW (Doña Ana County 2.45 GW, Manassas NVA02 0.49 GW)Planned power at the big campuses tracked on the Data centers page | no board | none | none | none |
| Related DigitalNew York, NY | Builders and operators#5 · Campus developers | ~1.4 GW (Saline Township)Planned power at the big campuses tracked on the Data centers page | no board | none | none | none |
| EquinixEQIXRedwood City, CA | Builders and operators#1 · Colocation | $9.22 billion2025 revenue | no board | none | none | none |
| Digital RealtyDLRAustin, TX | Builders and operators#2 · Colocation | $6.11 billion2025 revenue | no board | none | none | none |
| CoreWeaveCRWVLivingston, NJ | Builders and operators#1 · GPU clouds | $5.13 billion ($66.8B backlog)2025 revenue | no board | none | none | none |
| NebiusNBISAmsterdam, Netherlands | Builders and operators#2 · GPU clouds | ~$530 million2025 revenue | no board | none | none | none |
| Schneider ElectricRueil-Malmaison, France | Power and equipment#1 · Electrical and cooling | €40.2 billion2025 revenue (all businesses) | no board | none | none | none |
| VertivVRTWesterville, OH | Power and equipment#2 · Electrical and cooling | $10.23 billion2025 revenue | no board | none | none | none |
| nVentNVTLondon, UK | Power and equipment#3 · Electrical and cooling | $3.89 billion2025 revenue | no board | none | none | none |
| ModineMODRacine, WI | Power and equipment#4 · Electrical and cooling | $3.18 billion (Climate Solutions, incl. data centers, $2.06 billion)Fiscal 2026 revenue | no board | none | none | none |
| VoltaGridHouston, TX | Power and equipment#1 · On-site power | 2.3 GW for Oracle's Texas AI data centers (Oct 2025)Largest data center deal | no board | none | none | none |
| WilliamsWMBTulsa, OK | Power and equipment#2 · On-site power | 2.6+ GW announced, 6+ GW backlog; $5.34B from Blackstone, Apollo and KKR for five projects (Jul 2026)Data center power announced | no board | none | none | none |
| Ayar LabsSan Jose, CA | Chips and photonics#1 · Optical interconnect | ~$1.0B ($870M by the Mar 2026 Series E, plus $150M in Sep 2026); $3.75B valuationTotal raised | no board | none | none | none |
| LightmatterMountain View, CA | Chips and photonics#2 · Optical interconnect | $850M; $4.4B valuation (Oct 2024 Series D)Total raised | no board | none | none | none |
| Xscape PhotonicsFort Lee, NJ | Chips and photonics#3 · Optical interconnect | ~$94M; $37M Series A extension (Mar 2026) with an eight-wavelength laserTotal raised | no board | none | none | none |