The Top 5 Climate Tech Companies to Invest in for 2023
We all know that climate change is a threat to our planet, and it is becoming increasingly clear to many that action is needed. Fortunately, there has been a growing number of companies that have made improvements in our technologies to help us transition to a more sustainable and eco-friendly future.
With many climate tech companies growing, there has also been an increase in the number of climate tech venture capitalists and investors, such as this profiled individual. Due to venture capitalists and large investment firms choosing to invest in climate tech companies, they have become a good investment from a financial point of view alone.
In this article, we’ll be going over the top five climate tech companies that have been performing well in the market and are expected to grow even more in the future.
- Clearway Energy, Inc. (CWEN)
Founded in 1992, Cleanway Energy has been around for some time, compared to other companies in the climate tech industry. The company has been involved in many clean energy initiatives, such as helping restart the Aspen Power plant, the first wood-based biomass plant in the state of Texas. They provide power to roughly three million customers, mostly from Texas or the Northeast.
According to this Yahoo finance article, 25 out of 920 hedge funds were invested into this company. As of February 17, the stock price was $31.06.
- Tesla (TSLA)
I won’t bore you with the introduction for this company. Ever since its founding in 2003, this electric vehicle company has been the face of the clean energy industry. While many well-known car companies have started to make their own electric vehicles, such as the 2023 Subaru Solterra, Tesla may just have the edge in a rapidly growing industry.
Tesla has the seventh-largest market cap in the world, so it’s safe to say there are a lot of hedge funds with Tesla part of them. As of February 17, the stock price was $208.31.
- Bloom Energy (BE)
A lesser-known name on this list, Bloom Energy is an up-and-coming company that has specialized in fuel cell technologies. For those who don’t know, fuel cells are a clean and eco-friendly method of generating electricity. Bloom Energy’s fuel cells are currently used by many different customers, from data centers to hospitals.
With a market cap of $4.5 billion, Bloom Energy has a lot of growth potential. The stock price as of February 17 is $23.49.
- SolarEdge Technologies (SEDG)
SolarEdge Technologies is an Israel-based company that specializes in smart energy solutions for solar energy. Their development of the solar inverters for photovoltaic arrays has allowed for increased energy savings and overall performance improvements.
SolarEdge Technology has 44 hedge fund holders out of the 920 that Yahoo tracked, and has a market cap of $17.12 billion. Their share price as of February 17 was also $305.04
- Plug Power, Inc. (PLUG)
With customers such as Amazon and Walmart, Plug Power is one of the leaders in the fuel cell industry. They offer zero-emission energy solutions for businesses across the globe. The company was founded in 1997 and is headquartered in Latham, New York.
They are well represented among hedge funds as well, with 32 holding stock in Plug Power. Additionally, they have a market cap of $9.08 billion and a stock price of $15.58 as of February 17.
Wrapping It Up
We hope you found our article on climate tech companies to invest in helpful. We went over a range of companies that offer various solutions to the environmental problems we face today. These companies are also expected to do well in the stock market in addition to them committing to sustainable practices.