London Based Fuse Energy Raises $70M Series B

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.

Key Takeaways

Fuse Energy raised $70M in a Series B round led by Lowercarbon Capital and Balderton Capital, valuing the company at $5B.
The crypto-native energy firm operates a vertically integrated stack and serves over 200,000 UK households with renewable power.
Fuse is launching “The Energy Network” on Solana, where users earn $ENERGY tokens for shifting power usage during peak times.
With $400M ARR, 1 GW in pipeline, and SEC no-action letter secured, Fuse plans global expansion into the US, Ireland, and Spain.

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.

Who’s Backing Fuse?

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.

From Revolut to Renewable Energy

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.

By the Numbers

Fuse has grown quickly over the past year:

Annual Recurring Revenue: $400 million (up 4x from $100 million earlier in 2025)
Customers: 200,000+ UK households
Infrastructure: 1 GW in pipeline; 18 MW live
Switch Rate: ~70% of UK energy switchers now choose Fuse
Team: Recruits from Meta, SpaceX, Citadel, Tesla, and Jane Street
Cash Flow: Already positive
Hiring: 0.01% acceptance rate

The company credits its growth to a product-led strategy, much like Revolut. Its mobile apps are live on iOS and Android.

The Energy Network and $ENERGY Token

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.

What’s Next for Fuse?

The $70 million will help Fuse:

Scale The Energy Network globally
Expand supply to the US, Ireland, and Spain
Build 1 GW of solar and battery capacity
Launch apartment-friendly plug-and-play solar kits
Deploy Autopilot, an AI-powered home energy OS

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.

Regulatory Green Light

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.

Why It Matters

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.

Frequently Asked Questions

What is Fuse Energy?

Fuse Energy is a crypto-native renewable energy provider building decentralized infrastructure using Solana. It serves over 200,000 households in the UK.

What is The Energy Network?

The Energy Network is Fuse’s new system that connects smart devices like EVs and solar panels. Users earn $ENERGY tokens for shifting energy use away from peak times.

What can users do with $ENERGY tokens?

Users can spend $ENERGY tokens on utility bills, hardware, or installations. The token supply is fixed at 10 billion and will be deflationary until 2050.

How will Fuse use the $70M Series B funds?

The funds will go toward scaling operations globally, expanding to the US, Ireland, and Spain, building 1 GW of renewable capacity, and launching AI tools and plug-and-play solar kits.

Is Fuse Energy regulated?

Yes. Fuse is a licensed electricity and gas supplier in the UK, a VASP in Denmark, and recently received a no-action letter from the SEC before its token launch.

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