UPDATE - GCL-Poly says Solaria lawsuit is “without merit”

Chinese company GCL-Poly Energy Holdings Ltd (HKG:3800) on Friday said the trade secrets theft and unfair competition lawsuit launched against it by California-based solar technology firm Solaria Corp is “without merit”.

Solaria is suing GCL Solar Energy Inc for violating the terms of a non-disclosure agreement from September 2014, when the two parties negotiated a licensing and manufacturing contract. The allegations are that the GCL-Poly unit had used confidential information relating to the US company’s proprietary technology in order to develop its own solar modules.

The lawsuit was filed on September 9 in the Superior Court of the State Court of California. The two companies have agreed on September 26 to stop using or disclosing confidential information of the other party in order to allow time for the dispute to be resolved, if necessary through a preliminary injunction hearing early next year.

Hong Kong-based GCL Poly makes silicon wafers and polysilicon for the photovoltaic (PV) industry and operates solar power plants. The firm intends to take appropriate actions to “aggressively” defend itself, it noted.

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