GCL Energy invests in new energy fund

GCL Energy Technology Co., Ltd. (SZSE:002015) announced that its wholly-owned subsidiary, GCL Smart Energy (Suzhou) Co., Ltd., will invest RMB 30.05 million in cash to co-establish the CAIXIN Green Innovation (Jiaxing) Equity Investment Partnership (Limited Partnership) with Zhejiang CAIXIN Capital Investment Co., Ltd., a wholly-owned subsidiary of CAIXIN Securities. The total size of the fund will be RMB 50 million, primarily targeting green electricity, energy storage, and other new energy projects. Upon completion, CAIXIN Capital will act as the general partner, while GCL Smart Energy will be a limited partner holding 60.10% stake. The fund, currently in fundraising, is subject to record-filing with the Asset Management Association of China. The company stated that the investment aligns with its strategic goals of high-quality development in new and clean energy sectors.