London-based Fuse Energy has raised $70 million in a Series B round to scale its DePIN network for renewable energy.
Author: Sahil Thakur
21st December 2025 – London-based Fuse Energy has raised $70 million in a Series B round to scale its decentralized physical infrastructure network (DePIN) for renewable energy. The round, announced on December 18, 2025, values the company at $5 billion and brings its total funding to about $160 million.
The company is building an on-chain energy system using Solana. It plans to offer smart devices and energy tokens to reduce grid load and reward users in real time.
Lowercarbon Capital and Balderton Capital led the round. Other major backers include Accel, Multicoin Capital, Ribbit Capital, Lakestar, and Solana co-founder Anatoly Yakovenko. CEO Alan Chang confirmed the raise on X. Some early reports mentioned fundraising issues, but these were not backed by reliable sources.
Fuse was founded in 2022 by Revolut alumni Alan Chang and Charles Orr. It operates across the full energy stack—from land acquisition to generation, trading, supply, and consumer apps.
It’s a licensed electricity and gas supplier in the UK and is registered as a VASP in Denmark. The company also has approvals for metering and asset operations.
Harry Stebbings
@HarryStebbings
Fuse Energy is the most under the radar company in Europe. Every year, the company has 10x revenue. First Year: £2M Second Year: £20M Third Year: £200M @alanchanguk is one of the great founders of our time. 🔥 20VC to come https://t.co/2EDCERlB36
01:56 PM·Dec 15, 2025
Fuse has grown quickly over the past year:
The company credits its growth to a product-led strategy, much like Revolut. Its mobile apps are live on iOS and Android.
Fuse is launching The Energy Network—a decentralized grid that connects smart devices like EVs, batteries, thermostats, and solar panels. It rewards users for shifting energy usage away from peak hours, helping prevent blackouts.
Users earn $ENERGY tokens for participation. The supply is capped at 10 billion and is deflationary until 2050. Tokens can be used to pay bills or buy hardware and installations.
This system aims to balance power demand as AI workloads, EVs, and data centers push grid usage to new highs.
The $70 million will help Fuse:
Fuse also aims to fix grid bottlenecks. In H1 2025, the UK curtailed 4.6 TWh of renewable energy due to overcapacity, costing £810 million. Fuse believes its system can help prevent these losses.
Fuse recently received an SEC no-action letter ahead of its token launch. This rare milestone provides clarity and lowers risk for participants. Only one other project has achieved this in the past five years.
As energy demand surges and carbon goals tighten, decentralized energy systems are becoming a key solution. Fuse Energy combines crypto incentives, AI, and clean tech in a real-world use case with fast-growing adoption. With strong backers and traction, it may become one of Solana’s most impactful DePIN projects yet.
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