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Gujarat Fluorochem’s batteries materials making unit raises $50-M from IFC
Business Line GFCL EV Products
Noida-based GFCL EV Products , a subsidiary of Gujarat Fluorochemicals (GFL), has raised USD 50 million from the International Finance Corporation (IFC) through the subscription of compulsorily convertible instruments. Barclays acted as the exclusive financial advisor to GFCL EV Products for this transaction.GFCL EV Products possesses manufacturing capabilities for battery chemicals, with backward integration into key raw materials. Its current product portfolio, which serves both the electric vehicle and energy storage sectors, includes electrolyte salt LiPF6, electrolyte formulations, and additives for enhanced performance.The company plans to use the new funds to build an integrated battery materials facility and to scale up its manufacturing capacity for advanced battery materials.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.