Gujarat Fluorochemicals Limited (GFL) has declared that a Rs 1,000 crore fund raise at an equity valuation of roughly Rs 25,000 crore has been approved by the board of its subsidiary, GFCL EV Products Ltd. (GFCL EV). Along with a number of well-known investors, including family offices from some of the biggest corporate giants in India, the INOXGFL Group’s promoters led the round. The funds will go toward the company’s expansion strategies as it seeks to take advantage of worldwide prospects in the energy storage systems (ESS) and electric vehicle (EV) industries.
GFCL EV is well-positioned to take a sizable chunk of the worldwide market for battery materials and establish itself as a supplier of choice for producers of EV and ESS batteries. With backward integration into essential raw materials like as AHF, LiF, and captive fluorspar, as well as integrated manufacturing capabilities, GFCL EV offers the following products:
Electrolyte formulations, performance-enhancing additives, and electrolyte salts (LiPF6) are examples of battery chemicals.
“At INOXGFL, we are playing a pivotal role in the energy transition across sectors like EVs, green hydrogen, wind, and solar,” said Mr. Devansh Jain, Executive Director of INOXGFL Group, in response to the fund lift. The prospect for expansion in the battery materials market, which is crucial to the EV and ESS sectors, excites us. As it grows to become a preferred supplier for significant international OEMs, GFCL EV is expected to experience exponential growth.