Blockchain solar company Glow completes $30 million financing, led by Framework and Union Square Ventures

ChainCatcher news, blockchain solar company Glow has completed a $30 million financing round, led by Framework and Union Square Ventures. This round includes $6.5 million in funding for the company and $23.5 million in solar investments.

Glow's CEO and co-founder Vorick stated that he plans to use this funding to expand the company from 5 megawatts of power to 600 megawatts over the next 18 months and to expand into new countries.

Glow operates a DePIN network composed of solar power plants in the United States and India. To encourage its farms to move beyond the "dirty" energy grid, the founders designed a holistic economy based on subsidies and token incentive models.