Chinese polysilicon and solar module producer GCL Technology has announced plans to expand into the lithium-ion battery storage sector.

The company said it aims to transform into a global multi-product new energy materials platform focused on silicon, lithium, and carbon, targeting opportunities in the rapidly growing global clean energy market.

GCL Technology said it will focus on physically synthesized iron oxide red-based lithium iron phosphate (LFP) storage materials, which it described as energy efficient and capable of delivering higher compacted density, capacity, and voltage stability compared with conventional LFP technologies.

The company said the technology provides competitive advantages in sustainability, cost efficiency, and product quality, without providing further details.

GCL technology also said its 400,000-tonne LFP cathode material project in Xinneng, operated by subsidiary Leshan Xinneng New Material Technology Co., Ltd, has reached an initial production capacity of 200,000 tonnes and entered the commissioning stage.

It noted that the strategic transformation could face risks related to market conditions, policy developments, and industry changes.

GCL Technology is active in solar manufacturing through GCL System Integration (GCL-SI) and in perovskite solar technology through GCL Optoelectronics.

For fiscal year 2025, GCL Technology reported revenue of CNY 14.425 billion ($2.12 billion), down 4.5% year on year, and a net loss attributable to shareholders of CNY 2.868 billion. The company said the losses were mainly linked to its polysilicon business, although granular silicon remained its largest business segment.

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