GCL New Energy Partners with Pharos for Strategic Investment

According to ChainCatcher, Hong Kong's leading listed new energy company, GCL New Energy (00451.HK), has entered into a subscription and investment agreement with RealFi inclusive finance Layer 1, Pharos. Under this agreement, Pharos will subscribe to approximately 10% of GCL New Energy's shares, with GCL issuing 186.5 million subscription shares to Pharos at a price of HKD 1.033 per share. This collaboration aims to combine Pharos's expertise in developing institutional-grade asset tokenization applications with GCL New Energy's substantial resources and leadership in the new energy sector. The partnership seeks to accelerate the application of Web3 technology in the new energy field, creating long-term value for stakeholders and exploring the transformative potential of blockchain technology across various applications. Additionally, the collaboration will leverage Pharos's Data Asset Token (DAT) framework to convert real-world energy data into standardized financial assets on the blockchain.