Gujarat Fluorochemicals Subsidiary GFCL EV Raises USD 80 Million in Additional Funding
Noida, March 27, 2026 – Gujarat Fluorochemicals Limited (GFL), India's leading fluorochemicals company, announced that its subsidiary, GFCL EV, a global integrated battery materials company, has secured an additional USD 80 million from a global investor. This investment complements the previously raised USD 50 million from the International Finance Corporation (IFC), a member of the World Bank Group (WBG).The funding will support high-value manufacturing, job creation, strengthen GFCL EV's position in global supply chains, and advance priorities of energy security, transport electrification, and local value creation.
GFCL EV aims to reinforce India's emergence as a competitive player in the battery-materials value chain through diversified battery materials offerings and a commitment to innovation and sustainability.
GFCL EV in India has fully integrated manufacturing capabilities for battery chemicals with backward integration into key raw materials. Its product portfolio includes battery chemicals such as electrolyte salt LiPF6, electrolyte formulations, and additives for enhanced performance, as well as cathode active materials (LFP) and binders (both PVDF and PTFE) catering to both electric vehicle and energy storage sectors.
“We are delighted to welcome another marquee investor after IFC as our partner in GFCL EV," said Mr. Vivek Jain, Chairman, INOXGFL Group. "This round of financing further reinforces our vision for a greener future supported by IFC's global expertise and commitment to sustainable development, aiding in accelerating India's energy transition."
Dr. Bir Kapoor, DMD and CEO, Gujarat Fluorochemicals Ltd., stated that the combined capital raise of USD 130 million will enable the company to scale up its manufacturing capacity for advanced battery materials, strengthening its position in the global supply chain.
Barclays acted as exclusive financial advisor to GFCL EV on this transaction.
About Gujarat Fluorochemicals Ltd.:
Gujarat Fluorochemicals Limited (GFL) is India’s leading producer of fluoropolymers, fluorochemicals, and battery materials. GFL is part of the US$ ~ 18 bn INOXGFL Group. GFL has three manufacturing units in Gujarat, including an integrated facility at Dahej, and a captive Fluorspar mine in Morocco.About GFCL EV Products Ltd.:
GFCL EV Products Ltd. (GFCL EV), a subsidiary of GFL, offers a range of battery material products catering to the EV / ESS ecosystem. GFCL EV has an integrated manufacturing facility with a wide array of product offerings.Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.