Dashboard/ClimateTech

ClimateTech & cleantech startups

The cost of PV, heat pumps and hydrogen is falling faster than forecasts predicted - meanwhile billions of venture capital are flowing into European cleantech startups. Here you see where economic viability has already been reached and which niches have the most momentum.

Current market prices

PV module (spot)

0.130€/Wp
+13.0 %vs. previous year

Source: pvXchange

Heat pump (system)

27€'000 gross
-10.0 %vs. previous year

Source: BWP/EnBW

Battery price 2026

105$/kWh
-2.8 %vs. previous year

Source: BNEF Annual Survey

Green hydrogen

7.45€/kg
-9.1 %vs. previous year

Source: IRENA/HyDeal/BNEF

PV module price - long-term trend

€/Wp crystalline silicon, spot price 2014 to 2024 (learning curve)

-83 % since 2014Learning rate ~24 % per capacity doubling2030 forecast: ~€0.06 to 0.08/Wp

Heat pump (air-to-water) - system price

System price incl. installation in €'000. Source: BWP/EnBW

Green hydrogen - price trend

LCOH in €/kg (electrolysis, renewable power). Source: IRENA/HyDeal/BNEF

Target: below €2/kg by 2030. At power costs below €40/MWh and electrolyser capex below €300/kW, green H₂ becomes competitive with grey hydrogen.

Cleantech venture capital Europe · Last 90 days

VC funding in Climate & Energy and Deeptech & Hardware · European startups · 05/26 - 07/26 · vs. prior 90 days (01/26 - 05/26)

Live data

Climate & Energy

184 m-91.1 %

19 Startups · 19 Rounds

Deeptech & Hardware

1.6 bn+6.3 %

21 Startups · 21 Rounds

Ø round size Climate

10 m-78.4 %

Deeptech: €78 m

Funding volume per month

€m · Climate & Energy + Deeptech & Hardware · 10/25 - 06/26

Distribution by stage

Climate & Energy + Deeptech & Hardware · cumulative

Pre-Seed5 m € · 5 rounds
Seed62 m € · 12 rounds
Series A254 m € · 9 rounds
Series B392 m € · 3 rounds
Series C514 m € · 3 rounds
Growth112 m € · 6 rounds

Top rounds

largest individual rounds · last 90 days

1
ICEYESeries F

Finland · Lead: General Atlantic

ICEYE operates the world's largest synthetic aperture radar (SAR) satellite constellation, providing sovereign satellite intelligence and earth observation services. The company specializes in delivering radar satellite reconnaissance systems to governments and operates a vertically integrated platform with software-defined satellites.

470 m
2
CuspAISeries B

UK · Lead: Kleiner Perkins

A frontier AI company that specializes in using generative AI, deep learning and molecular simulation to accelerate the discovery of breakthrough materials for industrial applications across semiconductors, energy, and climate

362 m
3

UK · Lead: Bullhound Capital

Oxford Quantum Circuits develops and operates superconducting quantum computers using its proprietary Coaxmon architecture designed for deployment in data-centre environments. The company provides quantum computing infrastructure as a service to enterprise and government customers across Europe, North America and Asia.

317 m
4

UK · Lead: DCVC

UK-based quantum computing company that builds full-stack quantum computers using silicon chip technology. Founded as a university spinout from UCL and Oxford, the company develops silicon transistor-based quantum computers designed to fit within existing standard data centers and racks, offering significant advantages in cost, space, and energy efficiency compared to competing quantum computing approaches.

145 m
5
QuoblySeries A

France · Lead: Bpifrance

Quobly develops silicon-based quantum computers using proven semiconductor manufacturing processes (FD-SOI technology on 300mm wafers). The company aims to make quantum computing scalable, manufacturable and deployable by leveraging established semiconductor manufacturing ecosystems rather than exotic quantum architectures.

121 m
6

Finland · Lead: Business Finland

Solar Foods has developed a proprietary microbe that feeds on carbon dioxide and hydrogen to grow a high-protein food ingredient called Solein. Solein is a nutrient-rich and versatile ingredient that can replace protein in virtually any food and requires just 0.1% of the land and 1% of the water compared to beef production.

82 m

Early-stage trend radar

Pre-seed & seed niches in Climate & Deeptech · European startups · 05/26 - 07/26

Live data

Early-stage startups

18

Pre-seed + seed

Active niches

8

Sub-sectors with funding

Niches by startup count

Pre-seed + seed · number of startups per sub-sector

Agritech / FoodTech4
Clean Energy3
Semiconductors / Chips3
Circular Economy2
Quantum Computing2
Advanced Materials2
Carbon & Sustainability1
Space Tech1

Niche details

Agritech / FoodTech

4 startups · €13 m funding

4
Clean Energy

3 startups · €14 m funding

3
Semiconductors / Chips

3 startups · €21 m funding

3
Circular Economy

2 startups · €829 k funding

2
Quantum Computing

2 startups · €2 m funding

2
Advanced Materials

2 startups · €3 m funding

2
Carbon & Sustainability

1 startups · €4 m funding

1
Space Tech

1 startups · €8 m funding

1

Three forces make on-site generation one of the most profitable investments for industrial SMEs.

  • The PV learning curve is relentless: module prices have dropped over 80 % since 2014.
  • Low module prices, high grid power prices and rising CO₂ costs now pull in the same direction. CO2
  • Keep waiting and you leave returns on the table in a historically favourable window.

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