GCL New Energy makes a cross investment with Pharos

BlockBeats News, March 14th - According to an official announcement, the L1 public chain Pharos has strategically expanded its capital cooperation with the Hong Kong-listed company Xinjiang Goldwind Science & Technology Co., Ltd. (HKEX: 0451). Goldwind has completed its investment in Pharos, valuing it at nearly $1 billion. Within 3 months after the Pharos TGE and during multiple subsequent periods of 3 months, the average FDV shall not be less than $7.6 billion; otherwise, the follow-up investment will not be carried out. This investment enables Pharos to drive the RWA market from a conceptual pilot to a large-scale, sustainable industrial commercialization.