Micro-cap Green Circle Decarbonize Technology prices IPO at $4
IPO Overview
Green Circle Decarbonize Technology, a Chinese producer of thermal energy storage materials, raised $10 million by offering 2.5 million shares at $4.00 per share. At pricing, the company was valued at $50 million. On Tuesday, Green Circle Decarbonize Technology listed on the NYSE American under the symbol GCDT. RBW Capital Partners acted as sole bookrunner on the deal.
About the Company
We are a provider of advanced energy saving solutions supported by proprietary phase change thermal energy storage materials and thermal engineering services. Our proprietary technology is a phase change material （“PCM”） thermal energy storage （“TES”） technology. By applying material science and nanotechnology, we have successfully invented and manufactured our PCM which allows temporary storage of excess thermal energy for later use and thereby bridges the gap between energy availability and energy use （“BocaPCM-TES Technology”）。 With our industry experience and professional expertise, we have put our BocaPCM-TES Technology into practice and invented our product – “BocaPCM-TES Panel” – a custom-made high-density polyethylene （“HDPE”） plastic encapsulated container fully filled with our PCM solution. Currently, we have developed more than 20 types of PCM, each of which has a unique phase change temperature and TES capacity to accommodate different temperature requirements in various PCM-TES applications. Based on the type of PCM solution filled into the HDPE plastic containers, we are able to manufacture customized BocaPCM-TES Panels with a wide range of operating temperatures from -86°C to +600°C to suit our clients’ needs. Accordingly, our BocaPCM-TES Panels can be utilized in many heating, ventilation, and air conditioning （“HVAC”） and refrigeration applications.