GCL Optoelectronics raises over US$14 million in D1 financing round, certifies 30.23% efficiency for large-area perovskite tandem module

GCL Optoelectronic Material (Kunshan GCL Optoelectronic Materials), a subsidiary of GCL Group, has completed a D1 financing round exceeding 100 million yuan (over US$14 million), led by Jinxin Capital, with Sequoia China, Xiang'an Venture Capital and Suzhou Asset Management participating. The company says the funds will primarily support the commercial delivery of its ground-mounted photovoltaic power stations and the verification of space photovoltaic applications.

The D1 round follows a Series C2 round completed in July 2025 that raised nearly 200 million yuan. Since its first angel round in May 2020, GCL Optoelectronics has attracted strategic investments exceeding one billion yuan from companies and institutions including CATL, TCL Group, Tencent, Temasek and Sequoia Capital.

GCL Optoelectronics has focused on perovskite technology since 2013 and describes itself as one of the world's earliest companies to pursue industrialization of perovskite modules, crediting itself with several industry firsts: the industry's first 100MW-level perovskite R&D line, the industry's first 2-square-meter perovskite module, and the industry's first high-throughput R&D equipment. On the ground-application side, the company's 2-square-meter perovskite tandem module has reached a certified efficiency of 27% and obtained what the company describes as the industry's first tandem module IEC dual-standard certification. Its GW-level Phase I production line, with a total module area of 2.78 square meters across all specifications, has a certification efficiency of 26.8% and is being used to advance product verification and market entry for ground-mounted power plants, industrial and commercial distributed PV, and building-integrated PV; the company says it has signed multiple MW-level module orders so far this year.

The company also reports two newly certified efficiency records. Certified by the National Institute of Metrology of China, a 2042 cm² perovskite-crystalline silicon tandem module reached 30.23% efficiency, which GCL Optoelectronics describes as officially crossing the 30% efficiency threshold for a module of this size. Separately, certified by TÜV SÜD, a 900 cm² flexible single-junction module reached 21.79% efficiency and a 625 cm² flexible tandem module reached 27.11% - which the company says breaks the world record for flexible perovskite module efficiency.

Dr. Fan Bin, Chairman of GCL Optoelectronics, said: "Over the past sixteen years, our team has personally experienced and witnessed multiple cycles of evolution in the photovoltaic industry and perovskite technology. Currently, perovskite is entering a critical window of opportunity for large-scale application. In particular, in this round of financing, we have won the trust and support of new and old shareholders such as Jinxin Capital, Sequoia China, Xiang'an Venture Capital, and Suzhou Asset Management, which has further strengthened our strategic commitment to long-term development in the perovskite industrialization." He added: "Looking ahead, the company will continue to focus on the core perovskite sector, actively seize the opportunities brought by new scenarios such as space photovoltaics, and promote perovskite technology to a wider range of applications."