PR88164

SHANGHAI, Feb. 22, 2021 /PRNewswire=KYODO JBN/ --

One of the world's leading providers of Energy Storage System (ESS) solutions

Pylon Technologies Co., Ltd. ("Pylontech" or the "Company"), has announced that

despite a tight schedule, they are on track with the plan to expand to 4GWh

within three years.

Pointing to a successful IPO on the Shanghai Stock Exchange Star Market on

December 30, 2020, as the first storage-focused listed company, which saw

Pylontech raising more than CNY2 billion (~$US301 million), Wen Tan, CEO of

Pylontech said: "We took only few days off this Chinese New Year holiday so we

could continue with both cell production and capacity expansion. This is highly

unusual in Chinese tradition, but we are eager to supply our customers, who

have been waiting, with more resources".

Since 2013, the company has made a strategic Battery Energy Storage System

(BESS)blueprint for the global market. In recent years, Pylontech has been

growing steadily and dramatically with the advantage of vertical integrated LFP

ESS solutions. Products cover the full voltage range from 12V to 1500V and full

capacity from 500Wh to more than 100MWh and meet the demand for residential

ESS, commercial and industrial ESS and grid-tied services.

Analysis shows that the global energy storage market is under rapid development

and for lithium-ion battery energy storage alone, demand is rising

significantly, with supply falling short which means Pylontech is in a

favorable position. Data indicates that in 2019, the global market demand for

Lithium-ion batteries for communication base stations was 12.1GWh and demand is

expected to reach 60GWh in 2025.

"Over the past decade we have been redefining electric power generation,

storage and usage with our partners globally" said Geoffrey Song, VP of

international business; "Continuous innovation and broad collaboration is the

only route to an efficient, sustainable and affordable new energy structure. We

strongly believe in the carbon neutral commitments from global leaders and

strive to contribute our passion into the movement."

About Pylontech

Pylontech was founded in 2009 as a dedicated battery storage system(BSS)

provider by consolidating their expertise in electrochemistry, power

electronics and system integration. By providing reliable and affordable ESS

battery products and solutions to global markets, the Company has become one of

the world's top suppliers of lithium battery storage.

Related Stocks: 688063

Related Link: www.pylontech.com.cn

Source: Pylon Technologies Co., Ltd

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   Caption: Pylontech new production plant layout