SolaraX, a green-tech blockchain startup focused on renewable energy tokenization, announced the successful closure of its $45 million Series B funding round, led by Arcadia Ventures with participation from Lightspeed Digital, EnergyWeb Capital, and Horizon Fund. The company aims to accelerate global adoption of its decentralized energy marketplace, a platform that allows individuals and businesses to buy, sell, and trade renewable energy through blockchain-secured smart contracts.
The SolaraX marketplace enables solar panel owners, wind farms, micro-grids, and energy-positive households to tokenize excess electricity into digital assets called X-Energy Credits (XEC). These credits can be purchased by consumers, utility providers, and corporations looking to offset carbon emissions or reduce dependence on traditional energy suppliers.