Solar Energy Startup Glow Secures $30 Mn From Framework And Union Square Ventures

Glow, an Ethereum-based solar energy startup, has raised $30 million in funding from Framework and Union Square Ventures. The investment will help Glow expand its operations and support India's growing push toward renewable energy.  

Launched in 2023, Glow has already commissioned three solar farms in Rajasthan, generating 21.3 MW of solar power. The projects, located near Bikaner at Rays Power Experts Ltd's site, were launched in phases—1.3 MW on October 2, 4 MW on October 30, and 16 MW on November 27. Collectively, they are expected to reduce 300,000 tonnes of CO2 emissions and supply power to 34,000 homes annually.  

Glow’s efforts align with India’s renewable energy targets, particularly Rajasthan’s goal of producing 30 GW of solar power by FY25. "India's ambitious solar targets and policy support make it an exciting market," said David Vorick, CEO of Glow.  

“Glow is committed to transforming the renewable energy landscape in India and around the world by creating a decentralized, transparent, and incentivized system for solar energy. This investment will enable us to scale our operations, expand our network of solar farms, and empower communities around the world with clean, affordable energy, starting with India,” said David Vorick, CEO and co-founder of Glow.

The company uses blockchain to connect solar farms through a Decentralised Physical Infrastructure Network (DePIN), incentivizing clean energy production. Glow aims to expand into new markets, supported by the sale of high-quality carbon credits generated from its projects.