The public markets are beginning to warm up to climate tech startups, particularly those with a focus on addressing pollution. This comes after nuclear startup X-energy went public, raising $1 billion in an upsized share offering and resulting in a 25% rise in its stock price in its first hour of trading. Geothermal startup Fervo has filed for an initial public offering, valuing the company at around $3 billion. This move aligns with expectations from investors who expected public markets to welcome energy-related startups. The IPOs are expected to allow investors to return capital to their LPs and help companies that are not entangled in energy markets find other ways to thrive without access to the deep pockets the public market provides. However, companies stuck on the poorer side of the IPO window still have private investors to lean on.