Gujarat Fluorochemicals (GFL) declared today that the GFCL EV Products (GFCL EV) subsidiary’s board has authorized a Rs 1,000 crore fundraising at an equity valuation of about Rs 25,000 crore. Along with a number of high-profile investors, including the family offices of some of India’s biggest corporate conglomerates, the INOXGFL Group’s promoters spearheaded the fund-raising round. The money will be used to meet the company’s capital expenditure needs as it grows to take advantage of the vast worldwide potential in the energy storage systems (ESS) and electric vehicles (EV) markets.
GFCL EV is in a strong position to gain a sizable portion of the global battery materials market and establish itself as a go-to partner for EV/ESS battery/cell producers looking to establish a dependable and sustainable supply chain. With backward integration into AHF, LiF, and captive fluorspar, GFCL EV offers fully integrated manufacturing capabilities. Its present product line, which serves the EV and ESS ecosystems, consists of:
LiPF6 electrolyte salts, electrolyte formulations, and performance-enhancing additives are battery chemicals.
Materials for cathode activity (LFP)Binders (PTFE and PVDF).
With its wide range of battery materials and solid reputation, GFCL EV hopes to take advantage of the opportunities brought about by the US Inflation Reduction Act (IRA) and the deliberate diversification of supply chains worldwide away from a single nation of origin. By 2030, the EV battery chain is predicted to have a $300 billion global market. By 2030, the need for lithium batteries is expected to rise from about 1100 GWh to 5000–6000 GWh, creating a substantial demand for the battery materials that GFCL EV provides.
