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Zephyr Fusion is developing compact fusion reactor technology for industrial heat applications, targeting decarbonization of manufacturing and process industries. HQ: San Francisco.
Zephyr Fusion is an early-stage nuclear fusion company targeting the decarbonization of industrial heat — the process heat used in steel mills, cement plants, chemical facilities, and other heavy industries that collectively account for approximately 20% of global CO2 emissions. While most fusion programs target electricity generation, Zephyr's approach focuses on delivering high-temperature heat (>1000°C) directly to industrial processes, potentially displacing fossil fuel combustion in applications where electrification is difficult or impossible. The company is developing a compact fusion device designed for co-location with industrial facilities.
Frankfurt-listed (ETR: ENR) energy technology company at €34.5B FY2024 revenue with 13-15% growth 2025; Siemens Gamesa offshore wind and gas turbines competing with GE Vernova and Vestas for energy transition infrastructure.
Siemens Energy AG is a Munich, Germany-based energy technology company — listed on the Frankfurt Stock Exchange (ETR: ENR), partially owned by Siemens AG (25%+ stake) following the September 2020 spin-off — providing power generation (gas turbines, steam turbines, generators), grid infrastructure (transmission technology, HVDC systems, transformers), and energy transition solutions (green hydrogen, offshore wind through its 73%-owned Siemens Gamesa Renewable Energy subsidiary) to utilities, industrial customers, and governments globally. Siemens Energy generated €34.5 billion in revenue in fiscal year 2024, with Q2 FY2025 revenue of €10.0 billion (+20.7% comparable) and Q3 FY2025 revenue of €9.7 billion (+13.5% comparable), projecting 13-15% revenue growth for full-year FY2025 at a 4-6% profit margin.
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