New Energy Watchlist: Small-Cap Names to Watch (April 2026)

The PRISM Emerging New Energy Index is up +58.4% since inception (January 2, 2024 at $100), currently at $158.40. Performance has been driven by a sharp move in select themes, with nuclear and uranium leading on rising electricity demand tied to AI infrastructure.

At the same time, long-duration storage and hydrogen are starting to re-enter the conversation in 2026.

The names below reflect where price action and investor attention are building.

Oklo Inc. (NYSE: OKLO)

Oklo is developing small modular reactor (SMR) technology aimed at powering data centers and industrial users.

Recent partnership announcements have brought the name back into focus alongside broader nuclear momentum. As one of the few publicly traded SMR-focused companies, it offers direct exposure to a theme that is moving back into the mainstream.

Energy Fuels Inc. (NYSE American: UUUU)

Energy Fuels is one of the largest U.S.-based uranium producers, ramping production into a tightening supply environment.

The stock is up over +30% year-to-date, reflecting both uranium price strength and renewed focus on domestic energy security. The company also brings additional exposure through its rare earth processing capabilities.

Eos Energy Enterprises (NASDAQ: EOSE)

Eos is scaling a zinc-based, non-flammable long-duration energy storage platform.

The company recently reported strong preliminary Q1 2026 revenue and issued full-year guidance of $300 to $400 million, pointing to increasing commercial traction.

Plug Power (NASDAQ: PLUG)

Plug Power is one of the stronger-performing hydrogen names in 2026, up roughly 45% to 49% year-to-date.

The move reflects improving execution and new contract activity, alongside broader momentum in hydrogen infrastructure buildout.

Lightbridge Corporation (NASDAQ: LTBR)

Lightbridge is developing advanced nuclear fuel technology designed to improve reactor efficiency and safety.

The stock has shown strong momentum as nuclear-related technologies return to focus, offering exposure to the fuel side of the nuclear ecosystem.

Bloom Energy Corporation (NYSE: BE)

Bloom Energy produces solid oxide fuel cell systems that deliver clean, reliable power, particularly for data centers and other high-demand applications.

The stock is up over +140% year-to-date, supported by strong commercial demand and continued execution.

PRISM Take

This is where attention is building in new energy.

Nuclear and SMRs for baseload power.
Uranium for supply security.
Storage and hydrogen as the next layer.

These are capital-intensive businesses with long timelines, but the demand signal is getting clearer. AI infrastructure is driving electricity consumption higher, and the market is starting to reposition around that reality.

For investors following the space, the opportunity set is expanding, with a mix of early-stage and more established names across the ecosystem.