Climate Tech's 2026 Watchlist: China's Lead, Big Tech's Power Play
The annual Climate Tech Companies to Watch list from MIT Technology Review offers a snapshot of where energy innovation is heading. This year's picks reveal two clear currents: China's accelerating dominance in renewables and batteries, and Big Tech's growing appetite for reliable, low-carbon power to feed data centers. The list, compiled by Casey Crownhart, includes companies like Envision Energy, WeLion New Energy, Fervo Energy, X-energy, Form Energy, Energy Dome, and Moment Energy. It's not just a roster of promising firms—it's a map of the technologies and market forces that could define the next decade of climate action.
China's Clean Energy Juggernaut Keeps Rolling
China's grip on energy technology is impossible to ignore. The country is home to the world's largest grid, and renewables are coming online at a pace that's hard to track. Envision Energy, a repeat honoree, has installed over 100 gigawatts of wind power globally and more than 50 gigawatt-hours of battery storage. Like many Chinese firms, it's now looking beyond its crowded home market, with projects in Germany, Brazil, and Australia, plus upcoming work in Vietnam. Meanwhile, WeLion New Energy is pushing battery boundaries, announcing a lab result of 824 watt-hours per kilogram—more than three times the energy density of standard lithium-ion. Lab breakthroughs are tough to scale, but WeLion is also deploying semi-solid-state batteries, which could hit the market faster than fully solid-state cells while still outperforming today's lithium-ion.
Big Tech's Hunger for Power Reshapes the Grid
Data centers are driving demand for consistent, clean power, and Big Tech is opening its wallet. Fervo Energy, which went public in May and raised $2.2 billion in its IPO, is using horizontal drilling and hydraulic fracturing to make next-generation geothermal practical in more places. It aims to have a gigawatt of plants operational by the end of 2030. X-energy is building helium-cooled small modular nuclear reactors, with a 320-megawatt cluster planned in Richland, Washington, in collaboration with Amazon. The company also has a deal with Dow that could see deployment at a chemical plant in the early 2030s. Form Energy, on the list for a third time, is developing iron-air batteries for long-duration storage. Its 30 gigawatt-hour project, set to power a Google data center, could become the world's largest battery project by capacity when it comes online in phases between 2028 and 2031.
Storage Solutions Beyond Lithium-Ion
Long-duration storage is the missing piece for a fully renewable grid, and several companies are chasing it with novel approaches. Energy Dome uses compressed carbon dioxide to store energy, a technology already cheaper than lithium-ion for durations of 10 hours or more. The company has plans for over 30 gigawatt-hours of plants worldwide, including one with Google in Ireland slated for 2028. Moment Energy is tackling a different problem: the million EV batteries expected to reach end-of-life by 2030. Its facility in Vancouver, British Columbia, repurposes used batteries for backup power. Together, these companies show that the future of storage won't be one-size-fits-all—it'll be a mix of chemistries and business models tailored to specific needs.
Key Takeaways
- China's Envision Energy has installed over 100 GW of wind power and 50 GWh of battery storage, and is expanding abroad.
- WeLion New Energy's 824 Wh/kg lab result could lead to safer, longer-range EV batteries via semi-solid-state cells.
- Big Tech is driving demand for consistent clean power, backing Fervo Energy's geothermal and X-energy's small modular reactors.
- Form Energy's iron-air battery project for Google could become the world's largest battery by capacity.
- Energy Dome's compressed CO2 storage is already cheaper than lithium-ion for 10+ hour durations.
Source: MIT Tech Review • 🇺🇸 San Francisco
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