Glow, a forward-thinking solar energy company, has raised $30 million in funding from prominent venture capital firms Framework and Union Square Ventures. This investment will accelerate the company’s mission to promote renewable energy adoption and decentralize the global energy grid, starting in India and extending globally.
Founded in 2023, Glow has already made significant progress in India’s solar energy landscape. The company has launched three solar farms in Rajasthan, producing a total of 21.3 MW of solar capacity. Glow has successfully launched three solar projects in Rajasthan, with a 1.3 MW system becoming operational on October 2, 2024, followed by a 4 MW project on October 30, 2024, and a 16 MW system commissioned on November 27, 2024.
These projects are expected to offset approximately 300,000 tonnes of CO2 emissions and power 34,000 homes annually. Rajasthan, known for its sunny climate and vast non-arable land, plays a critical role in India’s solar energy push, aiming to generate 30 GW of solar power by FY25—an objective that aligns with Glow’s mission for energy independence.
Glow operates internationally, with teams in San Francisco, Mexico City, and Lisbon. As the third-largest producer of solar energy globally, India is central to Glow’s strategy. The company plans to expand its presence in India, contributing to the nation’s goal of achieving 500 GW of solar capacity by 2030. This aligns with government initiatives like the International Solar Alliance (ISA) and the Production-Linked Incentive (PLI) scheme, both designed to boost renewable energy production.
“Glow is dedicated to revolutionizing renewable energy by creating a decentralized, transparent, and incentivized solar ecosystem,” said David Vorick, CEO and co-founder of Glow. “This funding will help us scale operations, expand our solar farms, and provide affordable, clean energy to communities worldwide, starting with India.” “India’s ambitious solar targets and strong policy support create a vibrant market for our solutions,” Vorick added. “We are excited to be part of this transition to a renewable energy future.”
Glow leverages blockchain technology to create a Decentralized Physical Infrastructure Network (DePIN) that connects solar farms, forming a sustainable and efficient energy ecosystem. By incentivizing energy production and carbon reduction, Glow ensures a consistent supply of clean energy and provides financial support to struggling solar farms, helping them become operational and contributing to the overall incentive pool.
Focusing on regions with abundant sunlight and low electricity costs, Glow produces high-quality carbon credits, generating revenue that fuels further expansion and supports its subsidy program. With this investment, Glow plans to broaden its operations into new markets, enhance its blockchain-based solutions, and drive the global transition to decentralized, sustainable energy systems.
