Pioneering in the commercialization of Perovskite, GCL Photoelectric Materials Completed RMB 500 Million B+ Round of Financing
- Written by Media Outreach
HONG KONG SAR - Media OutReach - 14 December 2022 - Recently, Kunshan GCL Photoelectric Materials Co., Ltd. (hereinafter referred to as "GCL Photoelectric Materials"), a subsidiary of GCL TECH, announced the completion of RMB 500 million B+ round of financing, which was jointly led by Temasek, Sequoia China, and IDG Capital, followed by Longwater Investment and other institutions. GCL TECH, the major shareholder, continued to increase their investments, with Lighthouse Capital serving as the exclusive financial advisor. It is reported that this round of financing will be used to improve the process and equipment development of the 100MW perovskite module production line of GCL Photoelectric Materials. Photovoltaic technology is an important engine to boost the green transformation of energy under the goal of carbon peaking and carbon neutrality. Perovskite solar cell is considered one of the most promising solar cell technologies in the future due to their advantages of high conversion efficiency, fast iteration speed, short process flow, low raw material cost, and low energy consumption. Perovskite solar cell is still in the early stage of industrialization with the formula, equipment, and technology still under iterative development. Once the mass production process of large-area modules is mature, perovskite batteries will go on a different commercial path from crystalline silicon with lower cost, and richer application scenarios. As the global leader in the industrialization of perovskite in solar power modules, GCL Photoelectric Materials is far ahead in the conversion efficiency of large-area preparation of perovskite and the progress of a 100MW mass production line. Leading the Industrialization Process of PerovskiteThe 100MW Mass Production Line for Modules with the World's Largest Area Has Been Built GCL Photoelectric Materials has accumulated rich industrialization experience in the stage of large-area module efficiency and pilot test line and successfully enlarged it onto a 100MW large-area module production line, leading the world in the two key indicators of finished module efficiency and stability. In September 2021, GCL Photoelectric Materials built the world's first 100MW mass production line, with a module size of 1m × 2m. At present, GCL Photoelectric Materials' 100MW mass production line is in the stage of process development and equipment transformation, with the conversion efficiency of finished modules steadily improving. It is expected that the conversion efficiency will exceed 16% by the end of this year and 18% by the end of 2023, becoming the first 100MW production line in the world to run through mass production. 
The conversion efficiency of 18% is of great significance to perovskite industrialization. At present, the actual efficiency of 1m × 2m crystalline silicon modules on the market is about 20%. Due to the different circuit structure from crystalline silicon modules, the power generation of perovskite modules with the same efficiency is 5% higher than that of crystalline silicon on average. If GCL Photoelectric Materials' 100MW production line were able to mass produce 18%-efficiency large-size modules, with the lower manufacturing cost of perovskite modules, it would significantly strengthen the competitiveness of perovskite modules in the photovoltaic market. In terms of stability, most advanced laboratories have been able to continuously operate perovskite modules for at least 1,000 hours without attenuation. The service life of GCL Photoelectric Materials 100MW finished products is expected to exceed 25 years. On June 7th, 2022, the 1m × 2m perovskite modules produced by the company passed the hail test, which is a strong piece of evidence for the tolerance of large-area modules in severe weather. With Continuous Independent Innovation, GCL Photoelectric Materials Leads the World in Large-Area Preparation Efficiency The conversion efficiency of perovskite is the industry's most concerned index. Currently, the conversion efficiency of a single junction of perovskite can reach 26% in the laboratory, the theoretical conversion efficiency can reach 33%, and the theoretical efficiency of tandem perovskite cells can reach 45%, which is much higher than that of the crystalline silicon battery. However, this index is only of practical industrial significance when it is on a module with a large enough area for commercialization. Large-area preparation is one of the biggest challenges for perovskite mass production. Small-sized modules are of little economic value. Therefore, perovskite components need to be larger to reduce costs for mass production. However, the large-area preparation of perovskite films faces such problems as non-uniformity and increased resistivity, sharply reducing the conversion efficiency. Manufacturers must systematically redesign and commission the material formula, coating, crystallization, laser, and more to ensure that the...
The conversion efficiency of 18% is of great significance to perovskite industrialization. At present, the actual efficiency of 1m × 2m crystalline silicon modules on the market is about 20%. Due to the different circuit structure from crystalline silicon modules, the power generation of perovskite modules with the same efficiency is 5% higher than that of crystalline silicon on average. If GCL Photoelectric Materials' 100MW production line were able to mass produce 18%-efficiency large-size modules, with the lower manufacturing cost of perovskite modules, it would significantly strengthen the competitiveness of perovskite modules in the photovoltaic market. In terms of stability, most advanced laboratories have been able to continuously operate perovskite modules for at least 1,000 hours without attenuation. The service life of GCL Photoelectric Materials 100MW finished products is expected to exceed 25 years. On June 7th, 2022, the 1m × 2m perovskite modules produced by the company passed the hail test, which is a strong piece of evidence for the tolerance of large-area modules in severe weather. With Continuous Independent Innovation, GCL Photoelectric Materials Leads the World in Large-Area Preparation Efficiency The conversion efficiency of perovskite is the industry's most concerned index. Currently, the conversion efficiency of a single junction of perovskite can reach 26% in the laboratory, the theoretical conversion efficiency can reach 33%, and the theoretical efficiency of tandem perovskite cells can reach 45%, which is much higher than that of the crystalline silicon battery. However, this index is only of practical industrial significance when it is on a module with a large enough area for commercialization. Large-area preparation is one of the biggest challenges for perovskite mass production. Small-sized modules are of little economic value. Therefore, perovskite components need to be larger to reduce costs for mass production. However, the large-area preparation of perovskite films faces such problems as non-uniformity and increased resistivity, sharply reducing the conversion efficiency. Manufacturers must systematically redesign and commission the material formula, coating, crystallization, laser, and more to ensure that the...