Glow, a blockchain solar company, has successfully raised $30 million to support its innovative model aimed at decentralizing electric grids and promoting renewable energy in the U.S. and India.

Information on the Target

Glow is an innovative blockchain-based solar energy company focused on decentralizing electric grids globally to achieve 100% renewable energy. Launched less than a year ago, Glow operates as an Ethereum-based project that has successfully raised $30 million in a recent funding round, led by prominent investors Framework Ventures and Union Square Ventures.

The company manages a decentralized physical infrastructure network (DePIN) of solar farms located in the United States and India. Glow's business model incentivizes solar farms on its network to outperform conventional energy grids, creating an economic structure based on subsidies and cryptocurrency tokens.

Industry Overview in the Target’s Specific Country

The renewable energy sector in the United States has been experiencing significant growth, propelled by incentives such as federal tax credits and state-level renewable mandates. Solar energy, in particular, has emer