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New Delhi: Plural Energy, an on-chain investing platform, announced that it has secured $2.33 million in pre-seed funding. The funding round was led by Necessary Ventures and Compound, with participation from Volt Capital and Maven11. This initiative is set to support the global transition to clean energy by facilitating investments through blockchain technology.
The platform will soon offer its first tokenized investment asset, a portfolio of solar projects developed by Solaris Energy, which is scheduled to go live later this summer. Plural Energy aims to make clean energy investments accessible to a broader range of investors, beyond traditional financial circles.
“Plural is building a new financial system for the clean energy transition that is accessible to all, and won’t let access to capital stand in the way of a clean energy future,” said Adam Silver, Co-Founder and CEO, Plural Energy. “We’re connecting all types of investors to high-quality renewable energy projects so that everyone can benefit from a distributed grid that is powered by renewables.”
The partnership with Solaris Energy signifies a move towards democratizing finance for smaller-scale renewable projects. Alex Blackmer, CEO & Co-Owner, Solaris, said, “Working with Plural, we see a path towards the democratization of solar finance where anyone can become a part of the revolution that is greening the energy sector.”
Plural Energy ensures compliance with regulatory standards, operating as a registered transfer agent and collaborating with SEC-registered broker-dealers and KYC/AML providers to secure investments.
Neil Devani, Founder and Managing Partner, Necessary Ventures, highlighted the profitability and stability of renewable investments, saying, “Investing in renewable assets has been highly profitable and stable for institutional investors, consistently generating double-digit IRRs domestically and abroad. It’s time to unlock this opportunity for all investors.”
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