SHANGHAI, Aug. 23, 2022 /PRNewswire/ -- Pylontech (688063), a dedicated battery storage system (BSS) provider listed on the Shanghai Stock Exchange STAR MARKET (SSE), was added to the MSCI China A Onshore Index and MSCI China All Shares Index on August 11, 2022.
MSCI, as a leading provider of critical decision support tools and services for the global investment community, announced the changes in its August 2022 Quarterly Index Review for the MSCI Equity Indexes. In this review, MSCI China A Onshore Index made seven additions with Pylontech named as one of the three largest. This inclusion is testimony to Pylontech's promising growth.
As the first BESS-focused company listed on the SSE, Pylontech's comprehensive strategy layout, high market share, and strong branding, has gained it a top 2 ranking among global residential BESS suppliers by IHS Research and is ranked among Forbes China 50 Most Innovative Companies. The addition to MSCI index is proof of Pylontech's representative role in the energy storage industry and recognition of its comprehensive strength, competitiveness, industry position, stock circulation, among others. It also means Pylontech will embrace more opportunities and attract attention with its investment value and development potential from global investors.
"Pylontech is proud to be a MSCI index company and grateful for the recognition of the capital market. We are committed to create more value for shareholders, customers and other stakeholders with our leading energy storage technology and reliable products and services. And we will grasp this chance and create more economical value to our shareholders benefiting from the rapid development of renewable energy. We have to do more to achieve net-zero carbon emissions" said Geoffrey Song, vice president of Pylontech.
Under the backdrop of the global energy crisis and energy transition, clean energy will gradually replace traditional fossil energy. Energy storage will be the key technology to promote the replacement of main energy from fossil energy to renewable energy.
BloombergNEF reckons that the entire global energy storage market will reach up to 58GW/178GWh in 2030, five times more than the recording capacity installed in 2021 (10GW/22GWh). There are huge opportunities for energy storage over the next decade, spurring the transition to more sustainable energy. The support of different national policies, the favor of capital, and a clear and sustainable business model indicate that energy storage will become a value investment orientation.
All changes in the MSCI review will be implemented as of the close of August 31, 2022.
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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, the company have enabled the market position as one of the top suppliers of lithium battery storage globally by its 7-years increasing rate by double.
Stock No.: 688063
Source: Pylontech Related Stocks: Shenzhen:688063 Shenzhen:688063.SS
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