Green Circle Decarbonize Technology Ltd. (NYSE:GCDT) shares fell 21.97% in after-hours trading Tuesday after the company announced a strategic partnership agreement with SANVO Fine Chemicals Group Limited for the mass production of BocaPCM-TES Panels in China.

The stock closed Tuesday’s regular session up 143.25% at $0.91. It then fell 21.97% to $0.71 in after-hours trading.

Green Circle Decarbonize Technology is a Cayman Islands-based holding company that operates through its Hong Kong subsidiary, Boca International Limited. The company develops and provides energy-saving products and solutions.

Strategic Partnership

Green Circle Decarbonize Technology said it entered into a strategic partnership agreement with SANVO Fine Chemicals Group Limited.

Under the agreement, SANVO has been appointed as the sole supplier and exclusive manufacturer for the mass production of Green Circle’s BocaPCM-TES Panels in China.

Green Circle said the arrangement allows it to use SANVO’s existing production facilities, reducing the need for new production lines and lowering upfront costs and setup time.

The company said its management team will focus on research and development, product design and global expansion.

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Three-Year Agreement

The agreement has an initial term of three years, with automatic three-year extensions unless terminated with prior written notice.

Green Circle said the partnership is expected to help reduce supply chain delays and speed up production of the BocaPCM-TES Panels.

The companies will execute formal agreements covering their respective roles and production terms.

Trading Metrics

Green Circle Decarbonize Technology has a market capitalization of approximately $12.47 million.

The stock has a 52-week high of $5.85 and a 52-week low of $0.33.

GCDT shares are down 78.38% over the past year.

Benzinga’s Edge Stock Rankings show a negative price trend across all time frames.

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Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.

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