GCL Technology is expanding into lithium-ion battery storage based on LFP materials as part of a shift to a “multi-product” new energy platform.
Chinese polysilicon and solar module maker GCL Technology has announced plans to expand into the lithium-ion battery storage sector.
The company said it aims to transform into a global new energy materials platform with multiple products focused on silicon, lithium and carbon, targeting opportunities in the fast-growing global clean energy market.
GCL Technology said it will focus on physically synthesized iron oxide red-based lithium iron phosphate (LFP) storage materials, which it describes as energy efficient and capable of delivering higher compressed density, capacity and voltage stability compared to conventional LFP technologies.
The company said the technology offers competitive advantages in sustainability, cost efficiency and product quality, without providing further details.
GCL Technology also said its 400,000-ton LFP cathode material project in Xinneng, operated by subsidiary Leshan Xinneng New Material Technology Co., Ltdhas reached an initial production capacity of 200,000 tons and has entered the commissioning phase.
It noted that the strategic transformation could involve risks related to market conditions, policy developments and industry changes.
GCL Technology is active in solar energy production through GCL System Integration (GCL-SI) and in perovskite solar technology through GCL Optoelectronics.
For fiscal 2025, GCL Technology reported revenues of CNY14.425 billion ($2.12 billion), down 4.5% year-on-year, and a net loss attributable to shareholders of CNY2.868 billion. The company said the losses were mainly related to its polysilicon business, although granular silicon remained its largest business segment.
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