GCL Photoelectric Materials develops and manufactures large-area perovskite photovoltaic modules and has accumulated industrialization experience in large-area module efficiency and pilot test lines. The company built and enlarged a 100MW large-area module production line (module size 1m × 2m) and is currently in the stage of process development and equipment transformation. GCL says it is far ahead in conversion efficiency for large-area preparation and in the progress of a 100MW mass production line; it expects finished-module conversion efficiency to exceed 16% by the end of this year and 18% by the end of 2023. The company notes that market crystalline silicon modules are about 20% efficient and that perovskite modules with the same efficiency generate roughly 5% more power on average. In terms of durability, advanced labs have run perovskite modules for at least 1,000 hours without attenuation, GCL expects its 100MW finished products to have a service life exceeding 25 years, and its 1m × 2m modules passed a hail test on June 7, 2022. GCL Photoelectric plans to use new funding to continue R&D and improve process and equipment for its 100MW line, accelerate commercialization, and pursue global competitiveness in perovskite modules.

Total raised

$72M

Funding rounds

1

Latest round

Series B

Latest activity

Dec 2022