EV demand surges amid energy uncertainty: Battery innovators to watch

Electric vehicle (EV) demand continues to accelerate globally as consumers, governments and manufacturers increasingly prioritize energy independence and long-term sustainability. The recent crisis in the Middle East and the resulting rise in oil prices may further accelerate this transition, as higher fuel costs push consumers and businesses toward alternative transportation solutions. According to the International Energy Agency’s Global EV Outlook 2026, electric vehicle sales surpassed 20 million globally in 2025, representing one in four new cars sold worldwide. The IEA also projects EV sales could reach nearly 30% of all new vehicle sales in 2026 as battery prices decline and energy security concerns intensify.¹

As EV adoptions grow worldwide, investors are increasingly focused on the technologies that power this next generation of transportation and power. Companies that are listed on Forge within the energy storage technologies sector (those that focus on storing energy via batteries, thermal or mechanical systems) indicate $1.059 billion in VC funding to these firms in 2025, a 68% increase from 2024, according to Forge Data.

Several private companies on the Forge Marketplace are positioned at the center of these trends. Three of the four have seller asks available on Forge as of May 28, offering accredited investors potential exposure to businesses helping shape the future of battery technology and sustainable energy shortage.

Redwood Materials, battery recovery and recycling services

Founded by former Tesla CTO JB Straubel and headquartered in Carson City, Nevada, Redwood Materials is focused on building a circular battery supply chain through battery recycling and materials recovery. The company works to recover critical minerals such as lithium, nickel, cobalt and copper from used batteries and manufacturing scrap, allowing these materials to be reused in new battery production.

Initially created to support EVs when founded in 2017, Redwood appears to be broadening its product scope. In April, it was announced that the battery recycling company formed a partnership with Rivian, an electric automotive and technology company, to take in their used EV batteries and repurpose them for energy to power Rivian’s manufacturing facilities.² This follows Redwood’s initiative to power data center developer Crusoe’s microgrid last June, sourcing energy for Crusoe’s GPU offerings.³

Redwood Materials’ Forge Price™ is $35.42 as of May 29, implying a valuation of $4.48 billion. Its investors include Goldman Sachs, T. Rowe Price, NVIDIA and Fidelity Investments.

Sila Nanotechnologies, developer of silicon-based battery materials

Alameda, California-based Sila Nanotechnologies develops silicon-based battery materials designed to improve battery performance, charging speed and energy density. The private company’s technology aims to significantly extend EV driving range while reducing charging times.⁴

Battery performance remains one of the most important factors influencing consumer EV adoption. In September, the company opened its first-of-a-kind plant in Moses Lake, Washington to manufacture its silicon anode material. Its 600,000 square foot facility is one of the largest anodes-producing facilities in the world, capable of making Sila a leader in producing efficient batteries for EV vehicles.⁵

The company has forged some notable strategic partnerships. In 2018, it partnered with BMW in the automobile producers’ ambition to create its first electronically-powered vehicles.⁶ And in 2022, the private company received a grant from the U.S. government stipulating its use for scaling production.⁷

Founded in 2011, Sila Nanotechnologies Forge Price™ is $13.86, implying a valuation of $1.71 billion as of May 29, 2026. The firm’s notable investors include 8vc, BlackRock, Bessemer Venture Partners and T. Rowe Price.

Group14 Technologies, advanced silicon-carbon technology producer

Group14 Technologies, based in Woodinville, Washington, focuses on advanced silicon battery materials that enhance lithium-ion battery performance. A competitor of Sila Nanotechnologies, the company’s SCC55® silicon-carbon technology is designed to improve energy density and charging speed for EVs.

With global EV production continuing to expand, manufacturers are under increased pressure to improve battery performance while lowering costs. Group14 aims to support these businesses in meeting these challenges. As of 2026, the private company had already achieved a partnership powering HONOR’s Magic model smartphones.⁸ And in March, it was reported that Group14 had started production at its South Korea-based factory as it aimed to produce its silicon batteries at greater scale to compete and meet the growing EV market.⁹

Founded in 2015, Group14’s price per share is $30.00 as of its August 2025 funding round, placing its post-money valuation at $5.08 billion. The firm’s VC investors include SK Materials, Porsche, OMERS Ventures and Cabot Corporation.

Form Energy, develops long-duration energy storage systems

Somerville, Massachusetts-based Form Energy is developing long-duration energy storage systems designed to support energy grids. While not exclusively focused on electric vehicles, the company’s iron-air battery technology addresses a challenge facing the broader clean energy transition of storing renewable power for extended periods.

The company is reportedly partnering with Google to power the grid for a new Minnesota data center for the AI and search engine giant. Form Energy’s battery source will provide more than enough power to serve the data facility, according to Google.¹⁰ And, like Redwood, Form Energy has partnered with Crusoe to supply batteries to power its growing energy needs related to its own AI infrastructure.¹¹

Founded in 2017, Form Energy’s Forge Price™ is $10.11 as of May 29, 2026, implying a valuation of $2.20 billion. Its investors include T. Rowe Price Associates, Breakthrough Energy Ventures, Energy Impact Partners and TPG Rise Climate.

Investor takeaway

The global shift toward electric vehicles continues to drive demand across the battery ecosystem, from raw materials and recycling to advanced chemistry and scalable energy storage. Rising oil prices and ongoing geopolitical instability may further strengthen long-term interest in EV adoption as governments and consumers seek alternatives to traditional fuel dependency.

Investors have shown enthusiasm in these companies and those like it through higher capital infusion. It could very well be an intriguing sector to watch in the weeks and months to come.