Daylight Secures $75M to Pioneer Decentralized Solar Energy Network

Daylight has raised $75 million in combined equity and project financing to develop a blockchain-based decentralized solar energy network across the United States. The funding round includes $15 million in equity led by Framework Ventures and $60 million in project financing from Turtle Hill Capital.

The company's innovative model offers solar power as a subscription service, removing the prohibitive upfront costs of traditional solar installations. Customers earn 'sun points' for energy contributions to the grid, with plans to introduce a tokenized system in the future. The DayFi protocol aims to transform electricity into an on-chain asset class accessible through decentralized finance platforms.

Notable investors participating in the round include a16z Crypto, M13, and EV3 Ventures. This capital injection accelerates Daylight's mission to modernize the electric grid with blockchain technology, promising greater affordability, reliability, and energy abundance.