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Because you never know what’s going to take off.

Not even 12 months of unceasingly bleak climate news could keep climate tech founders and funders from getting involved in some seriously sci-fi sounding ideas. While the first half of the year may have been defined by a general retrenchment, the great thing about about early-stage venture capital is that it very much still allows for — nay, encourages — the consideration of technologies so far beyond the mainstream that their viability is almost entirely untethered from current political sentiment.
Below are seven of the most fantastical technologies investors took a bet on this year, with almost all announced in just the past quarter alone. In an undeniably rough year for the sector, perhaps VCs are now ready to let their imaginations — and pocketbooks — run just a little bit wilder.
In November, the startup Terranova emerged from stealth with $7 million in seed funding and a plan to lift low-lying areas out of flood zones by deploying robots to inject a wood-based slurry deep underground, thereby raising the land above sea level. The lead investors were Outlander and Congruent Ventures.
“Terranova’s mission is nothing less than to terraform the earth and usher in a new era of resilience and societal abundance,” Terranova’s 24-year old CEO Laurence Allen said in a press release. He cofounded the company with his father, Trip Allen, who lives in the flood-prone Bay Area city of San Rafael.
The company says that its system, which consists of three robots and one “mothership,” can lift one acre by a foot per day, making it more cost-effective than other options for defending against climate change-driven flood risk, such as building a levee or a sea wall. Already the startup has quoted San Rafael $92 million to lift about 240 acres of land about four feet.
Not one, but two space-based solar companies made headlines this year. Just this month, Overview Energy emerged from stealth with plans to deploy satellites that beam energy via lasers directly to Earth, targeting preexisting utility-scale solar farms. The company has already raised $20 million in seed funding in a round led by Lowercarbon Capital, Prime Movers Lab, and Engine Ventures, and is now raising a Series A expected to close next spring.
Back in April, another space-based solar startup called Aetherflux raised a $50 million Series A led by Index Ventures and Interlagos. That funding will support the startup’s first launch, targeted for next year, which will deploy a constellation of satellites into low-earth orbit — a far lower altitude than Overview is targeting. These satellites will also use lasers to transmit solar energy to ground stations on Earth, where the power will be stored in batteries for later use.
If these companies can prove that their tech actually works in space, they have the potential to turn solar into an always available, 24/7 resource. That’s not going to happen in the next few years, though. Overview’s CEO Marce Berte told me that the company is aiming to put megawatts of power on the grid by 2030 and gigawatts by the mid-2030s, with the ultimate goal of building a system that can deliver the equivalent of 10% to 20% of global electricity use by 2050.
Did you know that low-frequency sound waves can extinguish a fire? It’s a relatively well-understood phenomenon, but now one company, Sonic Fire Tech, has raised $3.5 million to turn this hypothetical concept into a commercial firefighting tool. With a seed round co-led by Khosla Ventures, Third Sphere, and AirAngels, the startup hopes to launch pilots with homeowners, utilities, and firefighting agencies at the beginning of next year.
As Scientific American explained, the system emits low-frequency sound waves below the threshold of human hearing, which prevent and extinguish flames by displacing oxygen away from the fuel. This deprives a potential or existing fire of the air it needs to sustain combustion. The system can channel the soundwaves through ducts atop a building’s roof and beneath its eaves, or be installed on utility equipment. There’s even the potential for a “sonic backpack,” which would offer portable protection for firefighters.
The startup’s goal is to produce 500 units by the second quarter of next year, and it’s now seeking public-sector grant funding as well as partnerships with insurance companies for its novel “infrasound-based fire suppression.”
My colleague Robinson Meyer broke the news in October that an Israeli geoengineering startup called Stardust Solutions had raised a $60 million round led by Lowercarbon Capital. The company aims to develop tech that would enable solar radiation management — an as-of-now hypothetical method of cooling the planet by injecting aerosols into the stratosphere to reflect sunlight away from Earth — by the end of the decade.
The tech is controversial, however. Many experts believe that solar radiation management systems, if they’re developed at all, should be built by governments after much public deliberation. Stardust, by contrast, is a for-profit company seeking patent protection for its proprietary sunlight-reflecting particle. While the company says that the particle meets certain standards for safety and reflectivity, it has not disclosed what those standards are or anything about its composition.
The company’s CEO, Yanai Yedvab, said that Stardust is farther along than any other research efforts, public or private. And while some dispute the viability of Stardust’s proprietary particle, the fact that the company received a vote of confidence from a prominent climate tech VC indicates that this tech is entering the mainstream. As Rob put it, “Stardust may not play the Prometheus here and bring this particular capability into humanity’s hands. But I have never been so certain that someone will try in our lifetimes.”
Though climate tech investors have poured millions into the long-held dream of fusion energy, we’re likely still a long ways away from connecting a commercial reactor to the grid. But one startup, Maritime Fusion, is already looking to put fusion reactors on ships. The company raised a $4.5 million seed round last month led by the transportation firm Trucks VC to do just that.
The startup is developing a low power-density tokamak reactor that requires less power and less uptime than grid-connected power systems. According to TechCrunch, the startup projects that its first reactor will be up and running by 2032 and will cost about $1.1 billion to build, a far lower price than reactors on land will likely command. Another potential advantage is that at sea, fusion won’t have to compete with low-cost solar and wind resources, but rather more costly green shipping fuels such as ammonia and hydrogen.
"Breakeven fusion is on the horizon, but the grid may not be the first place fusion achieves commercial success," said Maritime Fusion’s CEO Justin Cohen in a press release.
Even with the rapid rise in grid-scale batteries, pumped storage hydropower still leads the world in total energy storage capacity. But traditional pumped hydro is costly to build and only feasible in specific geographies. One startup, Sizeable Energy, thinks it can overcome these constraints by building pumped hydro out at sea, raising $8 million in a round led by Playground Global to do so.
Traditional pumped-hydro systems store energy by using excess electricity to pump water into an elevated reservoir, then releasing it downhill through turbines when demand rises. Sizeable’s concept is the same, just offshore: One reservoir floats on the water’s surface, while the other — connected by a pipe and turbines — sits on the seafloor. When power is plentiful, brine is pumped into the upper reservoir; when it’s scarce, the brine gets released. And because that brine is heavier than the surrounding seawater, it naturally flows downwards to spin turbines.
Sizable is now working to deploy its pilot plant in Italy, with the goal of installing commercial projects at a variety of sites around the world next year.
This one’s a bit of a bonus. Technically Deep Fission, a startup planning to build tiny fission reactors in underground boreholes, raised its pre-seed round last year, But this year it went public via a curious SPAC merger on the lesser-known stock exchange OTCQB, raising $30 million in the process.
The idea is that building a reactor a mile underground will save costs and enhance safety, as it negates the need for the large pressure vessels and containment structures that are typically responsible for holding a reactor in place and preventing radioactive leaks. Instead, the company says that the surrounding rock will serve as a natural barrier and containment vessel.
But as Latitude Media pointed out, some are questioning whether the recent raise will be enough for the company to build what’s sure to be an expensive pilot by next July — as it aims to do — and to deploy reactors at the three project sites that it’s already announced. Next year certainly promises to be a reckoning for the hitherto unconsidered fortunes of the underground small modular reactor industry.
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Current conditions: South Korea’s heat wave has killed at least 16 people after the southeastern city of Yangsan recorded an all-time national temperature high of nearly 109 degrees Fahrenheit • Washington authorities arrested a man suspected of arson as the Pacific Northwest state struggles to contain wildfires around Spokane • Typhoon Dolphin intensified into a Category 4 storm as it barrels toward southern Japan, where the ongoing heat wave has killed three female lions at a Tokyo zoo.
The United States could reach a deal with Iran as early as today to reopen the Strait of Hormuz to commercial shipping, Treasury Secretary Scott Bessent said. When asked during a Tuesday appearance on CNBC whether the agreement would allow Tehran to charge a toll to oil tankers, Bessent said the pact would include “freedom of movement.”
The announcement came as President Donald Trump faced a particularly grim economic milestone. Thanks to inflation from the Iran War, the price per gallon of diesel in the U.S. has averaged $4.09 since Trump returned to office in January 2025, according to a Financial Times analysis of Energy Information Administration data. That compares to $4.08 during Biden’s four years in office, when the Ukraine war triggered a price shock on diesel.
When the Trump administration brokered an $80 billion deal to support construction of at least 10 more Westinghouse AP1000 reactors in the U.S., the agreement came with a measure that would allow the federal government to request that the company’s owners offer shares of the legendary developer behind much of the American nuclear fleet on the stock market. It now appears that won’t be necessary. Last week, Westinghouse, a co-venture between Canadian uranium giant Cameco and Toronto-headquartered investment giant Brookfield, filed confidential paperwork with the U.S. Securities and Exchange Commission, laying the groundwork for a possible IPO.
The move came just two weeks after Holtec International, another long-standing stalwart in the industry that’s looking to play a central role in the next U.S. reactor buildout, filed its own S-1 paperwork with the SEC. At present, retail investors have limited options to bet on the nuclear renaissance. Startups such as X-energy, Oklo, and Hadron Energy — none of which has yet built a reactor or won Nuclear Regulatory Commission approval of its design — have dominated the market. Established firms such as the nuclear utility Constellation Energy, fuel maker Centrus Energy, and GE Vernova, whose joint venture with Japanese conglomerate Hitachi is a leading reactor developer, have also benefited. But Westinghouse and Holtec would be among the most serious “pure play” contenders on the market with real balance sheets.
British Prime Minister Andy Burnham took power last month after Labour leader Keir Starmer stepped down amid plummeting support within his own party, clearing the way for the populist former Manchester mayor’s democratic socialist reforms. Among the changes Burnham is expected to make on energy is giving the government an even greater role in developing fusion energy. “Because Burnham is committed to greater public control over utilities like energy, but within existing fiscal rules, his impact on fusion is likely to be about governance and ownership structures — for example stronger public or community stakes in fusion projects and more explicit links to regional development — rather than changing the headline national targets for fusion deployment themselves,” analyst Michael Heumann wrote in The Fusion Report.
It’s the type of intervention for which Japan’s fusion industry is pining. As you may recall, Japan’s conservative new “Iron Lady” Prime Minister Sanae Takaichi is going all in on reviving her country’s nuclear industry. But the FT reports that Japan’s fusion industry is now lobbying for more government support to get off the ground.
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Dominion Energy’s Coastal Virginia Offshore Wind project is progressing toward coming online by the end of next year. The timeline for the 2.6-gigawatt facility off Virginia’s shores to install its 176th and final turbine pushes back the start date from early 2027. But Dominion said the schedule “reflects additional contingency for weather, vessel maintenance, loadout operations, and extended jacking activities, rather than changes to the base turbine installation rate, which has been two days per turbine so far,” according to offshoreWIND.biz. The update comes after Trump conceded defeat in his battle to use the Department of Justice to wrestle back federal permits issued to offshore wind projects under the previous administration, my colleague Emily Pontecorvo wrote in June.
On Tuesday evening, meanwhile, 10 judges on the U.S. Court of Appeals for the District of Columbia Circuit upheld an earlier injunction that said the Environmental Protection Agency could not cancel $20 billion in climate grants, ruling in a split decision that recipients should have access to the funds.
Renewables made up 54.1% of Spain’s electricity generation in July — and it’s even higher when you count Spaniards who generated solar at home for self-consumption. That’s according to the latest data the national grid operator Red Electric de España published Tuesday. Generation from renewables surged nearly 6% year-over-year to a record 14,699 gigawatt-hours last month, according to Renewables Now. Solar made up by far the largest share for the fourth consecutive month, accounting for more than 28% of the mix in July.

I’m always fascinated by the parallels between Cuba and Puerto Rico, which — despite shared colonial histories and struggles — took divergent paths in the mid-20th Century, only to both end up with aging grids that can’t keep the lights on. I was reminded of conversations I have had with Boricuas who have spent nights sleeping on balconies and porches when the electricity is out, leaving air conditioners and fans idled on hot nights. In Cuba, that’s now happening en masse as the summer heat collides with the ongoing U.S. oil embargo. “Things are only getting worse. Tomorrow it’ll collapse again ... and we’ll be back to sleeping on the Malecón,” Alexey Ríos García told the Associated Press as he used a piece of yellow foam as a pillow to cushion his head from the tough concrete.
What’s next for electric cars? There’s no consensus.
Here’s the good news on electric cars in America: Sales in the second quarter of 2026 rose by 14% compared to the first quarter, which itself was an improvement on the preceding quarter. And here’s the bad: Even those good-looking Q2 sales numbers this year represent a 20% decrease from the same period in 2025.
Welcome to a confused moment in EV history. Electric vehicle sales in this country grew at a decent rate through the early part of the 2020s — right up until they fell off a cliff last fall when the federal tax credit disappeared and cars became $7,500 more expensive overnight. EVs have begun to recover in the intervening months, especially as Americans look for some respite from high gas prices. Yet the lineup of available EVs for them to purchase has been weakened by endless volatility. Car companies struggle to keep up with Chinese competitors abroad and the Trump administration’s relentless attacks on electric vehicles here. Meanwhile, EV makers have shifting visions of what they want electric cars to be.
In the long run, nothing has changed. The automotive industry is headed in one direction: toward a future dominated by battery-powered electric vehicles. But in the short run, even as EVs are setting sales records in dozens of countries and approaching 30% of the global car fleet, it feels like everyone involved in trying to sell EVs to Americans is driving in a different direction.
Just take a quick accounting of the players. At the start of the decade, Ford pinned its hopes on the F-150 Lightning pickup truck and the Mustang Mach-E, but never figured out how not to lose money on them. Last year, the company then blew up plans for its second-generation EV to go back to the drawing board. It stood up a skunkworks team at a far-flung California factory to learn how to slash manufacturing costs and make a mid-size electric truck in the $30,000s, set to emerge from the shadows next year.
Its Detroit rival, GM, looked to be in better shape. It bet its battery-powered fortunes on the Ultium platform that would underpin many vehicles across its lineup. In doing so, it rolled out a more ambitious lineup than Ford: Not just the Chevy Silverado, Blazer, Equinox, and Bolt, but several well-received Cadillac models that breathed some life into that atrophying brand.
In 2024, GM phased out the Ultium name, seemingly to make room for the next-generation architecture to follow. And then things started to get a little rocky. The Chevy Bolt, a hero of the late 2010s era of EVs, returned just in time to be canceled so GM could build more gas-guzzling Buick crossovers. General Motors is now stuck in a wait-and-see on battery power. It may update its existing EVs, particularly the Equinox, but reportedly has no plans to expand its electric offerings until at least 2030 — when, perhaps, some of the dust of the Trump presidency has settled.
GM’s fortunes look rosy next to those of Stellantis, the global giant that owns car brands like Jeep, Dodge, Chrysler, and Ram. Like competitors Ford and GM, Stellantis has had to take on eight-figure losses as it rejiggers its business to try to compete in the electric future. But unlike the Detroit duo, it has no particular success story even to hang its hat upon. Jeep EVs have been a struggle, and the planned Ram EV pickup never even saw the light of day. Now the great electric hope for pickup trucks is the planned Ram extended-range EV, a truck that would carry a gasoline engine simply to act as an onboard generator that recharges the battery.
Among Japan’s legacy automakers, the surprising insurgent is Toyota. The world’s biggest car company has been perhaps the most openly skeptical of electrification, with leadership arguing time and again against the economic feasibility of electric cars. Public statements make it sounds as if the company is being dragged away from the combustion age against its will. And yet, as the other car companies drift into limbo amid the chaotic current market, here is Toyota, slowly building up something rather than shifting its plans every couple of years.
Though its first true EV, the bZ4x, wasn’t up the standard of today’s best EVs, Toyota has stormed into 2026 with an improved version, the bZ, plus a revival of the C-HR small crossover in fully electric form. Toyota is in the midst of electrifying the Highlander SUV and even rolled out a concept car to tease a battery-powered makeover of the iconic Toyota Corolla. While the rest of the industry retreats from EVs to formulate a new plan, Toyota chose this moment to dive in headfirst. The same is true of its frequent design partner, Subaru, which has finally introduced multiple EVs to join the race.
Compare that with the turmoil at rival Honda. Like Subaru, it borrowed technology to accelerate its entry into the U.S. EV race — in Honda’s case, building the Prologue crossover on GM’s Ultium system. The company put several new EVs in the pipeline that would be Hondas from the ground up. Earlier this year, it killed them all, with leadership convinced its efforts just couldn’t compete, especially in non-U.S. markets where it would go up against the dirt-cheap offerings coming out of China.
Then, of course, there’s Tesla. Elon Musk’s brand is suddenly thriving again, thanks in large part to the vacuum created by the rest of the industry. Tesla, for all its bad press in some corners of the internet, still makes up more than half of EV sales in America, and the numbers soared in Q2 in spite of everything that’s been going on with Musk and his company (his focus on everything else that’s not human-driven cars, his political misadventures, and his reliance on just two aging car models, just to name a few issues).
That legacy car companies have stalled and flip-flopped on electrification as the political winds have changed has left the door open for the other EV-only startups. Rivian’s much-ballyhooed R2 arrived this summer and is off to an excellent start on its mission to make that company mainstream. Slate has finally taken the cover off its affordable electric small pickup. Lucid has been dogged by bankruptcy rumors as it tries to cross the startup’s valley of death, but for now, it’s still chugging.
With the car industry so scattered and disparate on its electrification efforts, it’s hard to know quite what to make of things. We’re a long way from the go-go Biden era, when government incentives for EV production gave automakers the confidence to make proclamations about going fully electric. Back then, it felt like we might be on the cusp of seeing an EV version of just about everything. Now it feels like the United States government is fighting another losing war — this one trying to singlehandedly save petroleum power while the rest of the world moves on.
Electric cars came to America slowly, and then fast. After decades of science experiments and sci-fi promises and Who Killed the Electric Car?, EVs gained a foothold remarkably quickly after the rise of Tesla. Millions of Americans now own one. But the leap from early adoption to mass adoption — which was first delayed by factors like high prices and unease with new technology — has been further forestalled by an antagonistic administration and an industry flailing about it keep up with its whims.
Electrification is coming. But this lull isn’t going away anytime soon.
There‘s a striking amount of agreement across the political system about what the big issues are.
This is an edition of Heatmap Daily, an evening review of the day’s news written by our executive editor. Sign up for it here.
The country's fastest-growing market for data centers is, for now, frozen. Governor Greg Abbott of Texas announced on Monday that the state’s grid authority should not allow any more data centers to hook up until state regulatory agencies complete an audit of existing projects.
As part of this audit, data center developers will have to disclose the following, according to the governor:
“Any data center project that fails to comply” with the audit “must be denied,” Abbott wrote in a letter to the agencies.
Abbott's freeze isn't quite broad enough to be called a full-on moratorium. As The Texas Tribune noted, data centers that aren’t asking to connect to Texas’ power grid can proceed as planned. But the announcement does mean New York is no longer the only state where the governor is trying to slow down data center development. As my colleague Alexander Kaufman wrote today in Heatmap AM, Texas’s governor has more than a little in common with New York’s chief executive, Kathy Hochul — above all, they’re both running for re-election in November.
Now, as far as data center regulation goes, Abbott's disclosure requirements are pretty weak tea. That’s chiefly because they are, well, disclosure requirements — they don't require that any developer actually changes their behavior, just that they publish data saying what they were going to do in the first place.
Yet his announcement put me in mind of something I've been thinking about for a while: There might be more agreement about data center regulation than we think.
Take Michigan, for instance. The progressive Senate candidate in that state, Abdul El-Sayed (who could very likely win the Democratic primary tonight), has become prominent partly by speaking out about data centers. He was early to the topic, publishing mandatory “terms of engagement” for data center developers back in January, and his own rise has tracked the issue’s rising salience in American politics.
Some of El-Sayed’s recent remarks about data centers have an undertone of surprise, as if he is a little astounded by how prominent the issue has become. “There’s literally not a conversation that I have, not a stop that I make, where data centers and AI don’t come up,” he said last month. As he recently marveled on a campaign stop last week: “People really effing hate data centers.”
He hasn't called for a national data center moratorium, though, as his allies and endorsers Senator Bernie Sanders or Representative Alexandria Ocasio-Cortez have. Instead, his blessedly short document says Michiganders should have a few “rights” when a data center wants to build in their community:
He’s also called for an end to tax breaks for data centers.
El-Sayed is on the Democratic Party's left. Earlier today, a candidate seen as in the party’s center — Iowa gubernatorial candidate Rob Sand — released his own data center plan. It demands the following, at somewhat greater length:
Look — it’s pretty similar to El-Sayed’s list! Sand might be a moderate, and El-Sayed might be a progressive, but it’s hard to see too much daylight between their data center policies.
What’s notable about these policies is what’s not in them. Neither El-Sayed nor Sand would require that data centers be powered by clean energy, as, say, the Wisconsin DSA gubernatorial candidate Francesca Hong has proposed. Neither El-Sayed nor Sand moots a statewide moratorium on data centers, either. And while their proposals would have more teeth, in theory, than Abbott’s audit, the three proposals are interested in the same questions — energy use, water use, physical footprint, and tax incentives.
As we’ve frequently noted at Heatmap, the data center backlash is strikingly bipartisan. Americans of many backgrounds, belief systems, and byways of life agree that the data center boom is becoming a problem. I wonder if there’s more agreement about the solution, too, than we might think.