Massachusetts is home to a vibrant cluster of energy storage companies that drive innovation in electricity management. These firms offer a variety of solutions, including battery technologies, long-duration storage, and grid stabilization systems, aimed at optimizing the use of renewables. As states push for cleaner energy sources to counter climate change, the demand for effective storage solutions is growing. The industry faces exciting challenges and opportunities, as advancements in battery technology and supportive policies foster a shift towards larger-scale deployments, making energy storage an essential component of the future energy ecosystem.


The list features 21 energy storage companies located in Massachusetts, showcasing a mix of sizes, from small startups to substantial enterprises. Ranging from pioneers like Form Energy and Ambri, to newer players like Malta Inc. and Elevate Renewables, each firm is charting a unique course in the energy sector. Founded between 2007 and 2022, these companies focus on innovative storage solutions to enhance energy reliability and facilitate the transition to clean energy, contributing significantly to the region's and nation's energy goals.


Continue reading to explore the top energy storage companies in Massachusetts.


Top 21 Energy Storage Companies in Massachusetts


1. Form Energy

  • Website: formenergy.com
  • Ownership type: Private Equity
  • Headquarters: Somerville, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Other (Debt), $50.0M, December 2024
  • Founded year: 2017
  • Headcount: 501-1000
  • LinkedIn: form-energy

Form Energy is an American energy storage technology and manufacturing company based in Somerville, Massachusetts. Established in 2017, the company specializes in developing and commercializing iron-air batteries, which are designed to store electricity for up to 100 hours. This capability positions their technology as a cost-effective solution for managing the variability of renewable energy sources. Form Energy aims to transform the electric grid by providing reliable, clean energy storage that can support utilities and energy providers. The company has received significant funding, including a recent $405 million investment, which underscores its potential for growth and innovation in the energy storage sector. With operations in multiple states, including California, Pennsylvania, and West Virginia, Form Energy is actively engaged in projects that enhance the reliability and sustainability of the electric grid.


2. Ambri

  • Website: ambri.com
  • Ownership type: Venture Capital
  • Headquarters: Marlborough, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: $7.4M, August 2024
  • Founded year: 2010
  • Headcount: 51-200
  • LinkedIn: ambri

Ambri, founded in 2010 and based in Marlborough, Massachusetts, is an energy storage company that specializes in long-duration energy storage solutions. The company has developed an innovative Liquid Metal™ battery technology aimed at enhancing energy storage capabilities for utility companies and organizations focused on renewable energy. Ambri's systems are designed to stabilize the grid and provide reliable energy storage for grid-scale applications. The company has made significant strides in the industry, including achieving UL 1973 certification for its next-generation battery cells and securing partnerships for utility deployments, such as with Xcel Energy and Microsoft. Ambri has also expanded its manufacturing capacity, indicating a proactive approach to meeting market demands. Recently, the company completed a sale and emerged from Chapter 11, demonstrating its resilience and ongoing commitment to the energy storage sector. With a workforce of around 93 employees and recent funding of over $7 million, Ambri continues to position itself as a key player in the energy storage market.


3. Nexamp

  • Website: nexamp.com
  • Ownership type: Venture Capital
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 99%, Other 1%
  • Latest funding: Other (Debt), $340.0M, April 2025
  • Founded year: 2007
  • Headcount: 201-500
  • LinkedIn: nexamp

Nexamp, founded in 2007 and headquartered in Boston, Massachusetts, is a clean energy provider specializing in solar energy and energy storage solutions. The company operates across the United States, developing, managing, and maintaining solar and energy storage assets. Nexamp offers a range of services, including community solar, energy storage, and power purchase agreements, aimed at helping residential consumers, businesses, and municipalities reduce energy costs and achieve sustainability goals. With a workforce of over 500 employees, Nexamp has established itself as a significant player in the clean energy sector. Recently, the company secured $340 million in funding, which underscores its growth and commitment to expanding its energy storage capabilities. Their energy storage solutions are designed to store clean energy generated from solar power, allowing for greater efficiency and reliability in energy supply.


4. Nanoramic, Inc.

  • Website: nanoramic.com
  • Ownership type: Venture Capital
  • Headquarters: Wakefield, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: $44.0M, December 2024
  • Founded year: 2009
  • Headcount: 11-50
  • LinkedIn: nanoramic

Nanoramic, Inc., founded in 2009 and based in Wakefield, Massachusetts, specializes in energy storage technology, particularly lithium-ion batteries. The company is known for its proprietary Neocarbonix technology, which significantly improves battery performance and sustainability by removing harmful materials traditionally used in battery manufacturing. This innovative approach not only enhances energy density and reduces costs but also addresses regulatory and environmental challenges associated with conventional battery production. Nanoramic collaborates with major players in the automotive and battery manufacturing sectors, working to commercialize its advanced battery solutions. The company has recently secured $44 million in funding, which will support its ongoing research and development initiatives, further solidifying its role in the energy storage industry.


5. Malta Inc

  • Website: maltainc.com
  • Ownership type: Venture Capital
  • Headquarters: Cambridge, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 47%, Spain 27%, Italy 7%, Other 20%
  • Latest funding: $21.6M, November 2023
  • Founded year: 2018
  • Headcount: 11-50
  • LinkedIn: maltainc

Malta Inc. is an energy storage company based in Cambridge, Massachusetts, founded in 2018. The company specializes in long-duration energy storage solutions, utilizing its proprietary Thermo-Electric Energy Storage technology. This innovative system allows for the storage of energy from various sources, including renewable energy, and is designed to provide reliable power during periods of high demand. Malta Inc. serves a range of customers, including electric utilities and industrial users, aiming to enhance grid stability and support the transition to sustainable energy. The company has a global presence, with operations in the United States, Spain, Italy, Malta, and Pakistan. In November 2023, Malta Inc. secured $21.6 million in funding, which will help accelerate the deployment of its energy storage systems and further its mission to support the clean energy transition.


6. Alsym Energy

  • Website: alsym.com
  • Ownership type: Venture Capital
  • Headquarters: Malden, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Series C, $78.0M, February 2024
  • Founded year: 2015
  • Headcount: 51-200
  • LinkedIn: alsym-energy

Alsym Energy, founded in 2015 and based in Malden, Massachusetts, is a battery manufacturer focused on creating innovative energy storage solutions. The company has developed a unique battery chemistry that is non-flammable and non-toxic, making it suitable for a wide range of applications, including grid and microgrid systems, data centers, and heavy industries. Their flagship product, Alsym Green, offers high energy density and can operate effectively in various conditions, including elevated temperatures. Alsym Energy's technology is designed to be cost-effective, utilizing readily available materials and a water-based electrolyte, which enhances safety and reduces manufacturing costs. The company has recently secured $78 million in Series C funding, indicating strong investor interest and support for their mission to provide safe and efficient energy storage options. Alsym Energy aims to address the growing demand for reliable energy storage solutions in an increasingly electrified world.


7. LG Energy Solution Vertech, Inc.

  • Website: lgensol-vt.com
  • Ownership type: Private
  • Headquarters: Westborough, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 99%, Other 1%
  • Founded year: 2022
  • Headcount: 51-200
  • LinkedIn: lg-energy-solution-vertech-inc1

LG Energy Solution Vertech, Inc., based in Westborough, Massachusetts, is a private company that specializes in energy storage solutions. Established in 2022, it serves as the U.S. energy storage division of LG Energy Solution. The company is dedicated to delivering integrated energy storage systems and maintenance services tailored for businesses and organizations in the energy sector. Their offerings include advanced battery technology, system integration, and ongoing support throughout the lifecycle of energy storage projects. With a focus on reliability and customer satisfaction, LG Energy Solution Vertech has already made strides in the industry, reporting 11 GWh of integrated energy storage projects installed, in construction, and in contracting within the U.S. and 30 GWh globally. Their approach emphasizes transparency and trust, aiming to create long-term partnerships with clients. The company is positioned to play a significant role in the evolving energy storage market.


8. XL Batteries

  • Website: xl-batteries.com
  • Ownership type: Venture Capital
  • Headquarters: Marlborough, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: $5.0M, May 2024
  • Founded year: 2019
  • Headcount: 11-50
  • LinkedIn: xl-batteries

XL Batteries, based in Marlborough, Massachusetts, is an energy storage company that specializes in renewable energy solutions. Founded in 2019 by scientists from Columbia University, the company is dedicated to developing organic flow batteries that promise to deliver cost-effective and reliable energy storage. Their technology is particularly aimed at utilities and industrial sectors looking for sustainable energy storage options. XL Batteries has recently closed a $10 million funding round, which underscores the confidence investors have in their innovative approach. The company is also actively pursuing partnerships, such as their collaboration with Stolthaven Terminals, to enhance their market presence and application of their technology. With a mission to support the transition to carbon-neutral power, XL Batteries is positioned to play a significant role in the evolving energy landscape.


9. Elevate Renewables

  • Website: elevaterenewableenergy.com
  • Ownership type: Private Equity
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Other (Grant), $27.5M, October 2024
  • Founded year: 2022
  • Headcount: 11-50
  • LinkedIn: elevate-renewable-energy

Elevate Renewables is a private equity-backed renewable energy developer based in Boston, Massachusetts. Established in 2022, the company specializes in battery energy storage solutions, particularly utility-scale projects. Elevate Renewables is dedicated to deploying energy storage facilities that help decarbonize existing fossil-fuel-powered generation and improve grid reliability. Their extensive project pipeline spans several states, including California, New Jersey, and Connecticut, where they are developing multiple battery energy storage systems (BESS). These projects are designed to facilitate the integration of intermittent renewable energy sources, such as offshore wind, and provide essential grid-supporting services. Recently, Elevate Renewables secured $27.5 million in funding, which underscores their commitment to advancing a sustainable energy transition and enhancing the environmental performance of the power sector.


10. American Energy Storage Innovations, Inc.


American Energy Storage Innovations, Inc. (AESI) is a private company based in Hudson, Massachusetts, specializing in energy storage solutions. Founded in 2021, AESI designs and manufactures advanced energy storage systems, including its flagship products, TeraStor™ and StorView™. These systems are tailored for businesses and organizations seeking efficient energy management and renewable energy integration. The TeraStor™ system is notable for its high energy density and ease of installation, requiring minimal on-site work and offering a self-powered, self-cooled design. AESI's team boasts over 150 years of combined experience in energy storage design, engineering, and manufacturing. The company has recently announced plans for expansion and has secured letters of intent for projects utilizing its technology, reflecting its growing presence in the energy storage market.


11. REON Technology

  • Website: reoncorp.com
  • Ownership type: Private
  • Headquarters: Somerville, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 94%, China 6%
  • Founded year: 2022
  • Headcount: 11-50
  • LinkedIn: reon-technology

REON Technology, Inc. is a private energy solutions provider based in Somerville, Massachusetts, founded in 2022. The company specializes in renewable energy management and energy storage systems, offering innovative products designed to optimize energy use and reduce costs for businesses and organizations. Their key offerings include the Mobile Power Station, Energy Block System, and Latitude Energy System, which are aimed at enhancing the efficiency and lifespan of energy assets. REON's technology leverages artificial intelligence to improve system performance, allowing for better management of batteries and solar panels. The company is committed to supporting the global goal of net-zero carbon emissions by 2050, and they have developed multiple patent-pending technologies to facilitate the efficient use of various battery types. With a small team of around 17 employees, REON is actively contributing to the renewable energy sector, focusing on making energy storage solutions more accessible and effective.


12. Rexel Energy Solutions USA

  • Website: rexelenergy.com
  • Ownership type: Family Owned
  • Headquarters: Taunton, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 97%, Indonesia 3%
  • Founded year: 1942
  • Headcount: 51-200
  • LinkedIn: rexel-energy-solutions-usa

Rexel Energy Solutions USA, based in Taunton, Massachusetts, is a family-owned energy solutions provider founded in 1942. The company specializes in energy optimization and electrification, offering a variety of products and services tailored to businesses in the energy sector. Their offerings include lighting, HVAC solutions, EV charging stations, and notably, battery storage systems. Rexel Energy Solutions aims to assist clients in achieving their energy efficiency and sustainability objectives through customized solutions and support. They actively engage in the energy storage market, recognizing the importance of battery storage in enhancing the value and flexibility of energy projects. Their extensive experience in energy efficiency programs and utility rebate systems further solidifies their role in the industry.


13. New Leaf Energy, Inc.

  • Website: newleafenergy.com
  • Ownership type: Private Equity
  • Headquarters: Lowell, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: July 2022
  • Founded year: 2022
  • Headcount: 51-200
  • LinkedIn: new-leaf-energy-inc

New Leaf Energy, Inc., founded in 2022 and based in Lowell, Massachusetts, is a renewable energy developer dedicated to advancing the transition to clean energy. The company specializes in solar development, energy storage, and wind generation, working closely with landowners and stakeholders to implement sustainable energy solutions. With a history rooted in the development arm of Borrego, New Leaf Energy has over 20 years of experience in solar projects and has been involved in energy storage since 2016. They have developed more than 1 GW of clean energy projects, showcasing their capability in moving projects from concept to execution. Their approach emphasizes identifying and developing projects that contribute significantly to a decarbonized electricity system, making them a relevant entity in the energy storage industry.


14. Agilitas Energy

  • Website: agilitasenergy.com
  • Ownership type: Private
  • Headquarters: Wakefield, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Other (Debt), $100.0M, April 2024
  • Founded year: 2014
  • Headcount: 11-50
  • LinkedIn: agilitas-energy-inc

Agilitas Energy, founded in 2014 and based in Wakefield, Massachusetts, is an energy solutions provider focused on renewable energy and energy storage systems. The company develops, builds, owns, and operates solar photovoltaic (PV) and hydropower projects, primarily serving utilities and municipalities. Agilitas Energy has positioned itself as a key player in the energy storage sector, claiming to be one of the first to market in the Northeast. They have developed a significant pipeline of energy storage projects, totaling over 1 gigawatt. Their operations include both standalone energy storage systems and those integrated with renewable generation facilities. Recently, Agilitas secured $100 million in funding to accelerate its growth in the renewable energy and energy storage sectors, further solidifying its commitment to enhancing grid reliability and supporting the clean energy transition.


15. 24M Technologies

  • Website: 24-m.com
  • Ownership type: Corporate
  • Headquarters: Cambridge, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 93%, Thailand 4%, Other 2%
  • Latest funding: Series E-K, $87.0M, September 2024
  • Founded year: 2010
  • Headcount: 201-500
  • LinkedIn: 24m-technologies

24M Technologies, Inc. is a battery technology and manufacturing company based in Cambridge, Massachusetts. Founded in 2010, the company is dedicated to creating innovative battery solutions for various applications, including electric mobility, aerospace, and energy storage. 24M Technologies has developed a unique manufacturing platform that significantly enhances production efficiency and product reliability. Their proprietary technologies, such as the SemiSolid™ battery design, focus on improving energy density, safety, and recyclability while reducing costs. Recently, 24M announced the opening of a new R&D and manufacturing facility in Thailand, which will enable them to produce up to 100 MWh of their SemiSolid™ battery cells. This expansion reflects their commitment to accelerating the commercialization of their battery technologies. In September 2024, the company raised $87 million in a Series E-K funding round, further solidifying their position in the industry and demonstrating strong investor interest in their innovative solutions.


16. Yaskawa Solectria Solar

  • Website: solectria.com
  • Ownership type: Private
  • Headquarters: Lawrence, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Founded year: 1915
  • Headcount: 201-500
  • LinkedIn: yaskawa-solectria-solar

Yaskawa Solectria Solar, based in Lawrence, Massachusetts, is a prominent player in the solar energy sector. Founded in 1915, the company has evolved significantly, particularly after its acquisition by Yaskawa America, Inc. in 2014. It specializes in high-efficiency photovoltaic inverters, energy storage systems, and string combiners. The company serves a variety of clients in the renewable energy industry, providing products designed to enhance the performance and reliability of solar power installations. Yaskawa Solectria Solar's energy storage solutions include DC coupled systems, which are essential for integrating solar energy into the grid. Their commitment to quality is reflected in their manufacturing processes, which comply with the Buy American Act. With a dedicated team focused on engineering and product development, Yaskawa Solectria Solar continues to innovate within the solar energy market, contributing to the advancement of energy storage technologies.


17. Solect Energy

  • Website: solect.com
  • Ownership type: Venture Capital
  • Headquarters: Hopkinton, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Seed, $1.0M, December 2017
  • Founded year: 2009
  • Headcount: 51-200
  • LinkedIn: solect-energy

Solect Energy, founded in 2009 and based in Hopkinton, Massachusetts, is a solar energy provider that specializes in renewable energy solutions tailored for commercial, public, and nonprofit sectors. The company offers a range of services, including solar installations, energy storage systems, and ongoing maintenance, aimed at helping organizations reduce energy costs and transition to sustainable energy sources. Solect has developed a strong portfolio of projects, particularly in the Northeast, and has worked with various clients, including schools and municipalities. Their energy storage solutions are designed to optimize energy usage, allowing clients to shift energy consumption from peak to off-peak times, thereby reducing costs. Solect has also received funding, with their last reported amount being $1 million in December 2017, which supports their growth and innovation in the energy sector.


18. Invaleon Technologies Corporation


Invaleon Technologies Corporation, established in 2011 and based in Haverhill, Massachusetts, is a private company that specializes in solar energy solutions. The firm focuses on providing solar panel installations, energy storage systems, and electric vehicle charging solutions to both residential and commercial clients. Operating primarily in Massachusetts, New Hampshire, and Maine, Invaleon aims to help customers reduce energy costs while promoting sustainability. The company has completed over 6,000 projects and has been recognized as a top contractor in the solar industry. Invaleon is a certified installer of Tesla Powerwall, which allows them to offer integrated energy storage solutions that enable customers to store excess solar energy for later use. This capability is particularly valuable for enhancing energy independence and reliability during power outages.


19. Gridwealth

  • Website: gridwealth.com
  • Ownership type: Private
  • Headquarters: Sudbury, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: $30.0M, April 2023
  • Founded year: 2013
  • Headcount: 51-200
  • LinkedIn: gridwealth-energy

Gridwealth, founded in 2013 and based in Sudbury, Massachusetts, is a private energy solutions provider that focuses on renewable energy services. The company offers a variety of products, including commercial and industrial solar systems, battery storage solutions, and energy consulting services. Their clientele primarily consists of real estate owners and businesses aiming to lower energy expenses and improve sustainability. Gridwealth is involved in developing, operating, and supplying renewable energy assets, which positions them as a significant player in the energy storage industry. Recently, they secured $30 million in funding in April 2023, further solidifying their capacity to innovate and expand their offerings in the energy sector.


20. Swift Current Energy

  • Website: swiftcurrentenergy.com
  • Ownership type: Private
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Other (Debt), October 2024
  • Founded year: 2016
  • Headcount: 51-200
  • LinkedIn: swiftcurrentenergy

Swift Current Energy, founded in 2016 and based in Boston, Massachusetts, is a private company dedicated to the development, ownership, and operation of utility-scale renewable energy projects. With a workforce of approximately 103 employees, the company has made significant strides in the renewable energy sector, focusing on wind, solar, and energy storage solutions across North America. Their portfolio includes over 1 GW of solar and wind energy currently in operation, with an impressive pipeline of more than 10 GW that includes energy storage projects. Swift Current Energy aims to provide low-cost, clean energy solutions to municipalities and corporations, helping them achieve sustainability goals and reduce carbon emissions. The company has secured substantial financing to support its renewable energy initiatives, including a recent $300 million facility to bolster its project portfolio. Their commitment to responsible development and community engagement further underscores their role in advancing the clean energy transition.


21. Longroad Energy

  • Website: longroadenergy.com
  • Ownership type: Private
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Employee distribution: United States (USA) 100%
  • Latest funding: Other (Debt), $600.0M, November 2023
  • Founded year: 2016
  • Headcount: 51-200
  • LinkedIn: longroad-energy-partners

Longroad Energy, founded in 2016 and based in Boston, Massachusetts, is a private renewable energy company focused on the development, ownership, and management of wind, solar, and energy storage projects across North America. With a team that boasts over two decades of experience in the renewable energy sector, Longroad Energy has successfully developed and acquired nearly 75 utility-scale projects. The company serves a variety of clients, including utilities, municipalities, and corporations, providing sustainable energy solutions that align with their environmental goals. Longroad Energy emphasizes operational excellence and asset management, ensuring that their projects deliver reliable and cost-effective renewable energy. Recently, they secured $600 million in debt financing to support the expansion of their renewable energy portfolio, which includes significant energy storage components, highlighting their commitment to this sector.



Energy Storage Insights: Key Companies in Massachusetts


CompanyHeadquarterSizeFoundedOwnership
Form EnergySomerville, Massachusetts, United States (USA)501-10002017Private Equity
AmbriMarlborough, Massachusetts, United States (USA)51-2002010Venture Capital
NexampBoston, Massachusetts, United States (USA)201-5002007Venture Capital
Nanoramic, Inc.Wakefield, Massachusetts, United States (USA)11-502009Venture Capital
Malta IncCambridge, Massachusetts, United States (USA)11-502018Venture Capital
Alsym EnergyMalden, Massachusetts, United States (USA)51-2002015Venture Capital
LG Energy Solution Vertech, Inc.Westborough, Massachusetts, United States (USA)51-2002022Private
XL BatteriesMarlborough, Massachusetts, United States (USA)11-502019Venture Capital
Elevate RenewablesBoston, Massachusetts, United States (USA)11-502022Private Equity
American Energy Storage Innovations, Inc.Hudson, Massachusetts, United States (USA)51-2002021Private
REON TechnologySomerville, Massachusetts, United States (USA)11-502022Private
Rexel Energy Solutions USATaunton, Massachusetts, United States (USA)51-2001942Family Owned
New Leaf Energy, Inc.Lowell, Massachusetts, United States (USA)51-2002022Private Equity
Agilitas EnergyWakefield, Massachusetts, United States (USA)11-502014Private
24M TechnologiesCambridge, Massachusetts, United States (USA)201-5002010Corporate
Yaskawa Solectria SolarLawrence, Massachusetts, United States (USA)201-5001915Private
Solect EnergyHopkinton, Massachusetts, United States (USA)51-2002009Venture Capital
Invaleon Technologies CorporationHaverhill, Massachusetts, United States (USA)11-502011Private
GridwealthSudbury, Massachusetts, United States (USA)51-2002013Private
Swift Current EnergyBoston, Massachusetts, United States (USA)51-2002016Private
Longroad EnergyBoston, Massachusetts, United States (USA)51-2002016Private


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