News Summary

• Nuclear startup X-energy went public this week, raising $1 billion in an upsized share offering.
• Geothermal startup Fervo said it filed for an initial public offering.
• The move to go public aligns with what investors told TechCrunch at the end of last year.
• But a wide swathe of climate tech will probably be left out of the IPO wave.. Companies that aren’t entangled in energy markets will have to find other ways to press on.
• The divergence suggests the climate tech world is starting to go K-shaped.