For investors looking for potentially booming growth stocks, the renewable energy space is certainly a direction to look. However, the obvious risks involved with these companies have kept some investors at bay. Two companies that have really been firing on all cylinders lately are SunPower (NASDAQ:SPWR) and Solazyme (NASDAQ:TVIA)

Operating in two completely separate markets, both companies are attempting to help revolutionize the way we look at energy and fossil fuel use. SunPower has been successfully targeting the solar power market thanks in large part to the financial backing of its majority owner, Total (NYSE:TOT). On a completely different note, Solazyme is targeting the petrochemical market by developing flexible oil compounds from heterotrophic algae that can be used in a wide rage of products.

For more on these two companies that have been reaching some early milestones, tune in below.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Total SA. (ADR). The Motley Fool owns shares of Solazyme. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.