GCL Optoelectronics raises US$28 million for perovskite PV factory

It was recently reported that GCL Optoelectronics Materials raised nearly CNY 200 million (almost USD$28 million) in a C2 financing round to advance perovskite solar manufacturing and research at its new gigawatt-scale facility in China’s Jiangsu province.

The round was co-led by China Cinda Asset Management and SAIF Partners, following the C1 round that included investors such as Goldstone Investment, Kunshan Gaoxin Group, Sequoia China, and Hanyang Capital. Lighthouse Capital continued to serve as the sole financial advisor. 

Proceeds from the full Series C round will support industrial-scale deployment and research into perovskite solar technology at GCL’s gigawatt-level manufacturing base in Kunshan High-Tech Zone, Jiangsu province. The site, which broke ground in December 2023, officially began production on June 24, 2025.