TechFlow News: On March 14, according to Cointelegraph, Pharos—a high-performance parallel Layer 1 blockchain—announced the completion of a new round of capital collaboration upgrades with GCL New Energy Holdings Limited (0451.HK), a company listed on the Hong Kong Stock Exchange. GCL New Energy has subscribed to an investment in Pharos at a valuation nearing $1 billion.
This investment closing stems from GCL New Energy’s preliminary announcement issued on January 8, 2026, and was formally finalized after completing the regulatory disclosure procedures required by the Hong Kong Stock Exchange. The compliance framework is built upon the information disclosure standards applicable to Hong Kong-listed companies. The two parties will collaborate across use cases including tokenization of new energy assets, decentralized energy trading, and carbon footprint tracking—accelerating the large-scale real-world asset (RWA) adoption. Pharos’s underlying architecture is EVM-compatible, and its testnet achieves over 20,000 transactions per second (TPS), supporting sub-second transaction finality.
Wish Wu, Co-Founder and CEO of Pharos, stated that this partnership aims to establish a standardized model for integrating Web3 technologies into physical industries, and the nearly $1 billion valuation reflects market recognition of Pharos’s technological value.
