Kunshan GCL Optoelectronic Materials raises 100M CNY Series D to push perovskite solar to market
What's the deal? Kunshan GCL Photoelectric Materials has closed a Series D round of over 100 million CNY (about $14.8 million), led by Jinxin CapitalDealroom has a profile for this one. Try Dealroom →. HongShan, Xiang'an Venture Capital, Suzhou Asset ManagementDealroom has a profile for this one. Try Dealroom →, and other institutions also joined.
What does it do? Founded in 2013, GCL Photoelectric is one of the earliest Chinese companies to pursue the industrialisation of perovskite photovoltaics. It runs a 100MW research and development line and is ramping up a gigawatt-level production line.
What's the money for? The funds will primarily support commercial delivery of perovskite modules for ground-mounted solar power stations and the validation of space photovoltaic applications.
What's the endgame? The company's certified efficiency has reached 27% on its 2m² tandem module and 30.23% on a 2,042cm² perovskite-silicon tandem module. It is also testing perovskite cells in low-earth orbit through partnerships with SpaceTDealroom has a profile for this one. Try Dealroom → and Phenomenon Innovation, aiming to verify performance and degradation in space.
Why now? The raise follows a Series C2 round of nearly 200 million CNY in July 2025. Since its 2020 angel round, GCL Photoelectric has drawn backing from CATL, TCL Group, Tencent, Temasek, and HongShan, with total financing exceeding one billion CNY.
The signal: Perovskite has long promised cheaper, more efficient solar than conventional silicon. GCL Photoelectric's move from lab records to ground-mounted delivery — and its reach into space applications — marks a step toward proving the technology can scale commercially.
Read more: EnergyTrend
Image credit: Generated with Gemini
