European cleantech companies raised €3.1 billion in 2025,
with investment activity concentrated around clean energy infrastructure,
industrial decarbonisation, advanced materials, recycling technologies, carbon
management, and electrification.
Large infrastructure and energy-transition projects
attracted the biggest rounds of the year, particularly in areas such as battery
storage, renewable energy, clean fuels, electric vehicle infrastructure, and
low-carbon industrial production. Several of the largest financings were aimed
at scaling commercial operations and supporting the deployment of
capital-intensive facilities.
Debt financing played a significant role across the sector,
accounting for a substantial share of total capital raised. Equity funding
remained strong, particularly for companies developing climate-focused
software, advanced materials, circular economy solutions, and carbon removal
technologies.
Geographically, Germany emerged as the leading market by
funding volume, followed by the UK, France, the Netherlands, and Switzerland.
Together, these countries accounted for the majority of capital raised,
although funding activity was distributed across a broad range of European
markets, including the Nordics, Southern Europe, and Central and Eastern
Europe.
Overall, the sector’s funding activity highlights continued
investor confidence in technologies supporting the energy transition, circular
economy, and industrial sustainability, while also indicating a growing focus
on scaling proven solutions from pilot projects to commercial deployment (for
more detailed analyses of the European technology ecosystem, check out
Tech.eu’s annual report: European Tech 2025 – The Big Picture).
Here are ten cleantech companies that raised the most in
2025.
Enpal (Germany)
Amount raised in 2025: €810M
Enpal is a company that provides integrated residential energy solutions, including solar panels, battery storage systems, heat pumps, EV charging stations and energy management software.
The company enables homeowners to generate, store and manage renewable energy through a connected platform designed to reduce energy costs and increase energy independence. Founded in Berlin in 2017, Enpal operates primarily in the German market and has expanded its offering beyond solar installations to a broader home energy ecosystem.
In 2025, Enpal secured €810 million across two rounds to make solar panels and heat pumps more affordable for European homes.
Pulse Clean Energy (UK)
Amount raised in 2025: €252.5M
Pulse Clean Energy is a UK-based company specialising in the development, construction, and operation of battery energy storage systems (BESS).
The company helps accelerate the transition to a low-carbon energy system by balancing renewable energy supply and demand, improving grid stability, and supporting the integration of renewable power sources. Through innovative energy storage and optimisation solutions, Pulse Clean Energy is working to build a reliable, affordable, and sustainable energy infrastructure for the future.
In 2025, Pulse Clean Energy secured €252.5 million to fuel the construction of six new ready-to-build BESS sites.
Climeworks (Switzerland)
Amount raised in 2025: $162M
Climeworks is a Swiss company that develops and operates direct air capture (DAC) technology, which removes carbon dioxide from the atmosphere.
Founded in 2009, the company provides carbon removal services to businesses and organisations and works on projects involving the capture and permanent storage of CO₂. Climeworks operates direct air capture facilities and collaborates with partners in the carbon storage and climate technology sectors.
Climeworks raised $162 million in 2025, bringing its total funding to more than $1 billion and providing additional capital to support operational expansion and the development of next-generation direct air capture (DAC) technology.
Aegis Energy (UK)
Amount raised in 2025: €118M
Aegis Energy is a UK-based infrastructure company developing a network of clean, multi-energy hubs for commercial vehicle fleets.
Its hubs are designed to provide a range of refuelling and recharging options, including electric charging, hydrotreated vegetable oil (HVO), hydrogen, and bio-CNG, to support the transition of trucks and vans to lower-emission energy sources. The company focuses on building public infrastructure for commercial transport operators across the UK.
In 2025, Aegis Energy raised €118 million to establish clean energy hubs in the UK and help decarbonise commercial vehicles.
WAAT (France)
Amount raised in 2025: €100M
WAAT is an electric vehicle charging company that provides charging solutions for businesses, fleet operators, property owners, and public sector organisations.
The company offers services including charging infrastructure installation, operation, maintenance, and energy management, supporting the deployment and management of EV charging networks across residential, commercial, and public environments.
WAAT raised €100 million in 2025 to accelerate EV charging rollout across Europe.
Avantium Technologies (Netherlands)
Amount raised in 2025: €94.8M
Avantium is a chemical technology company focused on developing and commercialising renewable and circular materials.
The company develops technologies that convert renewable carbon feedstocks, such as plant-based sugars and captured CO₂, into chemicals and polymers for applications in packaging, textiles, and other industries. In addition to its materials technologies, Avantium provides research and development solutions in catalysis and sustainable chemistry.
In 2025, Avantium secured €94.8 million across two rounds to commercialise plastic PEF and reach EBITDA break-even by 2027.
CuspAI (UK)
Amount raised in 2025: $100M
CuspAI is a company focused on accelerating the discovery and development of advanced materials.
The company combines generative AI, molecular modelling, and physics-based simulations to identify and design new materials for applications across industries including energy, climate technology, semiconductors, and manufacturing. Its platform is designed to reduce the time and cost associated with traditional materials research and development.
In 2025, CuspAI secured $100 million to unlock AI’s potential in climate materials.
Pulpex (UK)
Amount raised in 2025: £62M
Pulpex is a sustainable packaging company that develops fibre-based bottles designed as an alternative to conventional plastic and glass packaging.
The company works with consumer goods manufacturers and retailers to develop and commercialise recyclable packaging solutions made primarily from renewable pulp materials. Pulpex’s technology is intended for use across a range of product categories, including beverages, personal care, and household products.
In 2025, Pulpex secured £62 million to construct its first commercial-scale manufacturing facility near Glasgow.
GravitHy (France)
Amount raised in 2025: €60M
GravitHy is an industrial company developing a low-carbon iron production facility that will use renewable hydrogen to produce direct reduced iron (DRI) for the steel industry.
The company aims to supply iron products with a lower carbon footprint than conventional blast furnace production, supporting the decarbonization of steel manufacturing and related industrial value chains.
GravitHy secured €60 million in 2025 to advance low-carbon iron production and steel decarbonization.
Fairmat (France)
Amount raised in 2025: €51.5
Fairmat is a company that develops recycling solutions for carbon fibre composites.
The company uses proprietary processes to recover and transform composite waste into engineered materials that can be used in applications across industries such as mobility, electronics, consumer goods, and construction.
Fairmat’s technology is designed to support the circular use of advanced materials and reduce waste from composite manufacturing and end-of-life products.
In 2025, Fairmat secured €51.5 million in a Series B to close the loop on material recycling.