Pylon Technologies 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.”
