Pharos announced the signing of a subscription and investment agreement with GCL-Poly Energy to accelerate the application of Web3 technology in the new energy sector

According to official news, Hong Kong's leading listed new energy company GCL-Poly Energy (00451.HK) has signed a subscription and investment agreement with RealFi inclusive finance Layer 1 Pharos. Pharos will subscribe for approximately 10% of GCL-Poly Energy's shares, and GCL-Poly Energy will issue 186.5 million subscription shares to Pharos at a price of HKD 1.033 per share.

Through this cooperation, Pharos's expertise in building institutional-grade asset tokenization applications will further combine with GCL-Poly Energy's strong resources and leading position in the new energy sector. Both parties will jointly accelerate the application of Web3 technology in the new energy field, creating long-term value for stakeholders and further exploring the transformative potential of blockchain technology in various applications.

At the same time, this cooperation will also utilize Pharos's Data Asset Token (DAT) framework to transform real-world energy data into standardized financial assets on the blockchain.