Fuse
A UK power company using blockchain to incentivize clean energy usage
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About Fuse
Fuse is a decentralized renewable energy network built on Solana. Its core business operates an energy retail platform: users connect home energy devices (roof solar, batteries, EV chargers) to the Fuse app, which monitors consumption and automatically rewards users with ENERGY tokens for shifting usage to off-peak hours or reducing peak demand. These tokens can be redeemed for electricity bill discounts or carbon offsets, creating a 'pay-for-performance' model.
The key narrative is 'DePIN + real-world energy': it coordinates distributed energy resources to relieve grid congestion, while token incentives drive user behavior change. A notable milestone is receiving a US SEC no-action letter in November 2025, confirming that under its specific structure, ENERGY tokens are not classified as securities. However, this compliance comes at a cost: tokens are non-transferable, redemption value is tied to the company's profit margins and average market price at use, and the business model is legally locked to the filing — limiting flexibility.
Market pain points addressed: grid congestion and price volatility caused by AI, EV adoption, and electrification; traditional grids lack real-time flexibility. Fuse uses blockchain to verify energy data and automate rewards, improving grid stability.
Development in the past six months (2026-03 to 2026-09): the mainnet has been live with TGE completed in January 2026 (total supply 10 billion). The platform reports ~200,000 UK households served, ~$400 million annual recurring revenue. It is expanding to European and US markets. Negative aspects: token transferability is restricted, creating liquidity concerns; regulatory constraints lock business flexibility; and energy retail faces complex local utility regulations and potential pushback from incumbent utilities.
Fuse Energy, a Solana-based DePIN project, secured a $9 million seed round in September 2024. In November 2025, it received a SEC no-action letter, the first for a DePIN project since 2019, validating its token model. In December 2025, it completed a $70 million Series B led by Lowercarbon and Balderton, reaching a $5 billion valuation. These milestones mark its regulatory compliance and scaling in decentralized renewable energy.
Fuse Energy, a Solana-based decentralized renewable energy network, has achieved significant milestones in the past six months. The company reached group-level profitability in December 2025 and now serves over 300,000 UK households, with an annual revenue run rate surpassing $550 million. It secured an additional $30 million in Series B funding from 20VC and Collaborative Fund, bringing total backing to support its expansion. Fuse is developing a 1GW renewable energy generation pipeline and plans to launch a plug-in solar product for households. The company is opening a new 32,000-square-foot headquarters in Canary Wharf and hiring over 380 employees. Looking ahead, Fuse aims to expand across Europe and North America, leveraging its AI-driven digital twin technology to optimize energy balancing. It also plans to release its native token (TGE) soon, with a 10 billion supply, designed to incentivize demand response and burn tokens through redemptions. The roadmap focuses on scaling its DePIN network, integrating more distributed energy resources, and achieving broader adoption of its tokenized energy ecosystem.
Fuse Energy's co-founders and core executives are Alan Chang (CEO) and Charles Orr (COO). Alan Chang joined Revolut as employee #5, later became Chief Revenue Officer, and co-founded Fuse in 2022. Charles Orr served as COO at Revolut, then co-founded Fuse. Seán Murray is also listed as a core contributor, but no detailed bio is available.