SHANGHAI, Aug. 29, 2022 /PRNewswire/ -- Pylon Technologies (Pylontech), a dedicated battery energy storage system (BESS) provider, has announced it has been named as one of the 2022 Forbes China 50 Most Innovative Companies in the new energy field.

Pylontech is one of the few companies with independent R&D and manufacturing capabilities for core components used in energy storage including battery cells, modules and battery management systems. The release of the China 50 Most Innovative Companies list honours businesses that create a major impact on their business model, R&D investment, self-growth, corporate governance and other elements driven by innovation.

Inclusion in the list demonstrates Pylontech's aptitude for innovation and leadership within the renewable and sustainable sector and represents significant and additional recognition after gaining entry into the MSCI Index. As a global leading energy storage system(ESS) provider, Pylontech has served residential, industrial, and utility sectors for decades.   

Pylontech vice president Geoffrey Song said: "It's a great honor to be named on Forbes China 50 Most Innovative Companies. The inclusion strengthens our confidence to continue to invest in the R&D of more innovative products. We will continue to focus on energy storage development and adhere to innovation and R&D to achieve net zero carbon emissions."

The company and its subsidiaries currently own 194 patents totally according to its latest 2022 Semiannual Report released on Aug. 26^th, 2022. And this report also indicates that Pylontech's R&D to revenue rate in the first half year of 2022 reaches 6.99% and investment on R&D achieved a 132.40% increase over first half year of 2021,  which is a fulfillment to its strategy of high investment in R&D.

With a sustainable future around the corner, integration of innovative storage solutions and renewable power generation will maximize the benefits of an interconnected energy ecosystem. By placing innovation ability at the core, Pylontech is committed to driving the development of the energy storage industry and creating a world of green energy with customers and partners over the world.

About Pylontech

Pylontech was founded in 2009 as a dedicated battery storage system (BSS) provider by consolidating its expertise in electrochemistry, power electronics and system integration. By providing reliable and affordable ESS 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.