Daylight Energy secures $75M to expand decentralized solar network

Daylight Energy, a DePIN startup focused on distributed solar power, has raised $75 million in new financing to expand its decentralized energy network. 

The round includes $15 million in equity led by Framework Ventures with participation from a16z crypto, Lerer Hippeau, M13, Room40 Ventures, EV3, Crucible Capital, Coinbase Ventures, and Not Boring Capital, along with a $60 million project development facility led by Turtle Hill Capital.

The company said the capital will fund installations of home solar and battery systems on the Daylight Network, a subscription-based program offering households backup power and stable electricity rates without upfront costs. 

Homeowners currently earn “Sun Points,” a non-crypto rewards system that Daylight expects to evolve into a network token over time. The firm is also introducing DayFi, a decentralized finance (DeFi) protocol designed to offer yield tied directly to electricity revenues generated by Daylight’s infrastructure portfolio.

Framework Ventures co-founder Vance Spencer said the model bridges capital markets and renewable energy, adding that DeFi investors are seeking real-world yield sources as global power demand rises. 

“As AI accelerates global power demand, and energy costs rise, we think Daylight is uniquely positioned to meet the moment by connecting capital to the next generation of renewable infrastructure,” Spencer said.

This is a developing story.

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This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.

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