Plus Power Funding, Investors & Competitors

Vistra Corp. is one of the largest power producers and retail energy providers in the USA. It owns 44 gigawatts of generation capacity, including natural gas (27 GW), nuclear (6.5 GW), coal (8.7 GW), and solar and battery storage (1.4 GW). The Cogentrix acquisition will add 5.5 GW of gas generation. Vistra's retail electricity business serves 5 million customers in 20 states, including almost a third of all Texas electricity consumers. Vistra emerged from the Energy Future Holdings bankruptcy as a stand-alone entity in 2016.

Base Power is a residential energy provider offering backup battery systems and fixed-rate electricity plans in Texas. Dallas-headquartered, its home batteries supply up to three days of whole-home power during outages with automatic failover. Plans feature transparent pricing from 9 cents per kWh plus delivery and membership fees, serving deregulated market customers seeking cost predictability.

Northvolt was a Swedish battery manufacturer founded in 2015 to build the world's greenest, sustainably sourced lithium-ion batteries. Powered entirely by renewable energy (wind and hydro), Northvolt aimed to produce batteries with the lowest carbon footprint globally. Backed by heavyweights like Volkswagen and Goldman Sachs, it aimed to supply European automakers. However, facing severe scaling challenges and massive debt, the company filed for bankruptcy in 2024–2025.

Enlight Renewable Energy Ltd develops, finances, constructs, owns, and operates utility-scale renewable energy projects. The company’s operating segments are the MENA segment, Europe segment, U.S.A segment, and Others. It generates the majority of its revenue from the Europe segment, which produces its revenue from the sale of the electricity that is produced through wind energy and solar energy in Europe.

Sunwoda Electronic Co Ltd is engaged in research and development, design, production, and sales of lithium-ion battery modules. The company's Li-ion battery product covers Li-ion batteries for mobile phones, digital cameras, laptops, netbooks, electronic paper books, power-driven tools, industrial mobile lighting, and medical equipment.

Farasis Energy is a global lithium-ion battery manufacturer producing power systems for electric vehicles, energy storage grids, and commercial applications. The company operates production facilities in China and the United States with partnerships including BMW for automotive battery supplies. Farasis Energy supplies high-energy-density cells addressing transportation electrification and renewable grid integration needs.

Sungrow New Energy is a Hefei-based developer of integrated solutions for photovoltaics, wind power, and hydrogen storage systems. It provides EPC services for multi-energy projects including 1 GW solar farms and offshore wind installations in China and Southeast Asia.

Form Energy is a Somerville-headquartered company that develops iron-air batteries for multi-day energy storage from wind and solar sources. These 100-hour duration systems deliver dispatchable clean power to electricity grids across North America. The technology defers construction of new transmission lines and displaces fossil fuel peaker plants. Originating from MIT research, Form Energy partners with utilities such as Xcel Energy and Georgia Power for pilot projects in Colorado, Minnesota, and Georgia. The company operates manufacturing facilities in West Virginia and Vermont to scale production for grid integration.

Verkor builds gigafactories for low-carbon lithium-ion battery cells targeting electric vehicles from its headquarters near Grenoble, France. The company plans a 50 GWh facility in Dunkirk by 2025, reducing carbon footprints by 80% through renewable energy and recycled materials, backed by investments from Renault Group and Schneider Electric.

NW Storm is a Paris-headquartered developer of battery energy storage systems and EV charging infrastructure as a subsidiary of NW Groupe. The company deploys utility-scale lithium-ion batteries for grid stabilization in rural France, with 340MW operational capacity targeted by 2022. It installs ultra-fast chargers supporting up to 600 points by 2023, addressing energy transition in low-density regions.

Our Next Energy is a Novi-headquartered developer of advanced lithium-iron-phosphate batteries for electric vehicles. The company employs Gemini dual-chemistry architecture to deliver higher energy density and faster charging times while prioritizing cobalt-free materials and domestic supply chains. Founded in 2020, Our Next Energy partners with BMW i Ventures on joint development projects and operates a pilot production line in Michigan ahead of a planned gigafactory.

Stuttgart-headquartered CMBlu Energy AG manufactures organic redox flow batteries for grid-scale energy storage. The company deploys systems with capacities up to 1 MWh at industrial sites in Germany and Europe. Its B400 battery modules integrate with solar and wind farms to provide long-duration storage exceeding 10 hours. Founded in 2015, CMBlu partners with utilities for utility-scale projects in the renewable energy transition.

Tesla is a vertically integrated battery electric vehicle automaker and developer of real world artificial intelligence software, which includes autonomous driving and humanoid robots. The company has multiple vehicles in its fleet, which include luxury and midsize sedans, crossover SUVs, a light truck, and a semi truck. Tesla also plans to begin selling a sports car and offer a robotaxi service. Global deliveries in 2025 were nearly 1.64 million vehicles. The company sells batteries for stationary storage for residential and commercial properties including utilities and solar panels and solar roofs for energy generation. Tesla also owns a fast-charging network and an auto insurance business.

GE Vernova is a global leader in the electric power industry, with products and services that generate, transfer, convert, and store electricity. The company has three business segments: power, wind, and electrification. Power includes gas, nuclear, hydroelectric, and steam technologies, providing dispatchable power. The wind segment includes wind generation technologies, including onshore and offshore wind turbines and blades. Electrification includes grid solutions, power conversion, electrification software, and solar and storage solutions technologies required for the transmission, distribution, conversion, and storage of electricity from the point of generation to the point of consumption.

CATL, headquartered in Ningde, Fujian Province, is a global leading battery manufacturer founded in 2011. The company specializes in the development and production of lithium-ion batteries for EVs and energy storage systems. CATL is the largest EV battery manufacturer in the world and leads the industry in innovative battery technology development for higher-energy density and safety, longer battery service life and super-fast charging. CATL is also involved in the manufacturing of cathode and other related battery materials. Through its subsidiary Brunp, it works with customers to create a closed-loop battery life cycle from production, application, to recycling.

Iberdrola is one of the largest utilities in the world with electric utility operations in nearly 40 countries. The company has a 57-gigawatt portfolio of hydro, wind, natural gas, and nuclear power plants. It is one of the largest owners of wind farms in the world, representing about 40% of its portfolio. Although the company has recently developed or acquired distribution and power generation assets in other geographic areas, Spain is still home to more than half of its power generation capacity. Iberdrola also owns and operates electricity and distribution networks in Spain, the UK, Brazil, and the US.

China Yangtze Power Co Ltd business activities include hydroelectric power generation, power distribution and sales, overseas power station's operation, management, consultation services, investment, and financing. It has also established its power distribution and sales platforms such as Three Gorges Water Conservancy and Peru LuzdelSur. The company owns the power generation assets of four hydropower plants on the mainstream of the Yangtze River, namely Three Gorges, Gezhouba, Xiluodu, and Xiangjiaba.

Constellation Energy Corp producer of carbon-free energy and a supplier of energy products and services. The company offers generating capacity that includes nuclear, wind, solar, natural gas, and hydroelectric assets. It sells electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, and commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. Its operating segments and reporting units are Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions.