Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) and GCL-Poly Investment I LP ("GCL-Poly Investment", Representative: Yeung Man Chung, Charles), an exempted limited partnership and wholly-owned by GCL-Poly Energy Holdings Limited ("GCL-Poly"), today announced that it has executed a shareholders agreement to set up a new joint venture that will focus on strategic investment to accelerate growth investment related to new-generation energy and infrastructure related business.
GCL-Poly is an investment company and its subsidiaries are principally engaged in the manufacturing and sale of poly-silicon and wafer produces, key material in solar photovoltaic, and developing, owning and operating solar farms.
Mitsui is targeting to accelerate development of new-generation electricity business and mobility service by synergizing GCL-Poly's strong presence in Chinese market and Mitsui's global network, and cultivate new revenue source in order to materialize medium-term management plan.
New Joint Venture Overview
| Company | MIT GCL Investment Limited |
|---|---|
| Main business | Investment into the companies which possess cutting-edge technologies which contribute to new-generation energy and infrastructure business development |
| Ownership | Mitsui (50%), GCL-Poly Investment I LP (50%) |
GCL-Poly Investment Overview
| Company name | GCL-Poly Investment I LP |
|---|---|
| Representative | Yeung Man Chung, Charles |
| Main business | Investment vehicle |
| Establishment | 2018 |
