Recently, Kunshan GCL Photoelectric Materials Co., Ltd. (hereinafter referred to as "GCL Photoelectric") completed its Series D1 funding round, raising over 100 million RMB.
This round was led by Jinxin Capital, with participation from HongShan (formerly Sequoia China), Xiang'an Venture Capital, Suzhou Asset Management, and other institutions. The funds will be primarily used to promote the commercial delivery of perovskite modules for ground-mounted photovoltaic power stations and the validation of space photovoltaic applications.
Previously, GCL Photoelectric completed its Series C2 funding round of nearly 200 million RMB in July 2025. Since completing its initial angel round of financing in 2020, the company has cumulatively received investments from enterprises and institutions such as CATL, TCL Group, Tencent, Temasek, and HongShan, with a total financing scale exceeding one billion RMB.
Founded in 2013, GCL Photoelectric is one of the earliest companies in China to strategize the industrialization of perovskite photovoltaics. Currently, the company has built a 100-megawatt (MW) level perovskite research and development line and is advancing the production ramp-up of its gigawatt (GW) level production line. The certified efficiency of its 2-square-meter perovskite tandem module has reached 27%, and the certified efficiency of its 2.78-square-meter mass-produced module has reached 26.8%. These related products have already entered the verification stage for scenarios such as ground-mounted power stations and commercial and industrial distributed generation.
At the same time, the company continues to break efficiency records in perovskite technology. The efficiency of its 2,042-square-centimeter perovskite-silicon tandem module has reached 30.23%, while the efficiencies of its flexible single-junction and tandem modules have reached 21.79% and 27.11%, respectively.
In addition to ground-based photovoltaic applications, GCL Photoelectric is simultaneously advancing the exploration of perovskites in the field of space photovoltaics. At present, the company has partnered with Beijing Ziwei Yutong Technology Co., Ltd. (also known as SpaceT) and Phenomenon Innovation (Shenzhen) Technology Co., Ltd., among others. By utilizing low-earth orbit flight platforms to conduct in-orbit testing of perovskite solar cells, they aim to verify the cells' power generation performance, degradation characteristics, and environmental adaptability in space environments, thereby providing data support for subsequent aerospace applications.
Source：EnergyTrend