Ganfeng Lithium expects strong growth in the global energy storage system market, driven by rising battery prices and renewable energy demand. The company has swung from loss to profit, thanks to the global decarbonisation drive.

China’s Ganfeng Lithium, the world’s largest producer of lithium metal, is envisioning an “explosive growth” in the global energy storage system (ESS) market in 2026, spurred by higher prices of the key battery material and buoyant demand for renewable energy infrastructure. Executives including president Wang Xiaoshen told an investors’ conference on Tuesday that the global decarbonisation drive had created a strong and sustainable trajectory for Ganfeng, which swung from loss to profit last...