Green Circle Decarbonize Technology Limited (GCDT) is set to raise $10 million through an initial public offering (IPO) scheduled for January 13, 2025. The company plans to issue 2.5 million shares at a price of $4.00 per share. According to IPO Scoop, this marks a significant step for GCDT as it aims to expand its footprint in the decarbonization technology sector.
Over the past year, GCDT has reported a revenue of $670,000 alongside a net loss of $1.02 million. The company currently holds a market capitalization of $51.56 million. The IPO is being underwritten by RBW Capital Partners, a division of Dawson James, in collaboration with Spartan Capital Securities.
Company Overview and Mission
Founded in 1992, Green Circle Decarbonize Technology Limited operates as a holding company incorporated in the Cayman Islands. The company focuses on developing customized energy-saving solutions that aim to reduce carbon emissions and create economic benefits for its clients. GCDT emphasizes the importance of decarbonization as a global priority, especially in light of international agreements like the Paris Agreement and the Glasgow Climate Pact.
The company states, “Our mission is to preserve the world through decarbonization technologies.” With increasing pressure on both governments and businesses to adopt effective net-zero strategies, GCDT positions itself as a key player in providing innovative solutions that contribute to sustainability.
Technological Innovation
GCDT operates primarily through its subsidiary, Boca International Limited, based in Hong Kong. The company specializes in advanced energy-saving solutions using proprietary phase change thermal energy storage (TES) materials. Their flagship product, the BocaPCM-TES Panel, is designed to temporarily store excess thermal energy for later use.
This innovative technology utilizes material science and nanotechnology to create unique phase change materials (PCM) that can operate within a wide temperature range, from -86°C to +600°C. The versatility of BocaPCM-TES Panels allows them to be applied in various heating, ventilation, air conditioning (HVAC), and refrigeration applications.
GCDT’s growth in the decarbonization sector reflects a broader trend toward sustainable business practices. As the company prepares for its IPO, it aims to leverage its technological advancements to further its mission of combating climate change.
With plans to list its shares on the NYSE-AmEx, GCDT’s upcoming IPO represents a crucial step in its journey to not only secure funding but also to enhance its market presence in the rapidly evolving energy sector.
