HONG KONG: Rising demand for a niche material used in solar panels has sent shares of top producer GCL-Poly Energy Holdings Ltd soaring and swelled the fortune of its billionaire founder, delivering an early winner in the global push to tame greenhouse gas emissions.
Prices have boomed for polysilicon, an ultra-refined form of the mineral found in beach sand and used to convert photons of light into electricity. Factories will need to run all out this year as key markets including China, Europe and the United States accelerate the deployment of solar power to help meet climate targets.