Pylontech to Establish Its First Overseas Factory

SANT'ANGELO DI PIOVE DI SACCO,Italy,May 19,2023 -- Pylon Technologies Co.,Ltd. ("Pylontech") announces its plan to build its first overseas factory in Italy at a press conference in Veneto on 18 May 2023.

Pylon LiFeEU S.r.l.,the joint venture based in Sant'Angelo di Piove di Sacco (PD) will result in Pylontech's first overseas factory to produce and deliver energy storage solutions in a more stable and secured way for customers in Europe. It's jointly owned by Pylon Technologies Europe Holding B.V. ("Pylontech EU"),a company incorporated under Dutch law wholly owned by Pylontech,and Energy S.p.A. ("Energy"),who have been in cooperation for ten years with shared commitments to promote renewable energy and decarbonization initiatives. This factory will utilize resources and expertise from both sides to develop and market energy storage products in Europe,creating a new base for innovative energy storage solutions.

Pylontech has secured the number one position in the global residential battery energy market in 2022 with over one million energy storage systems commissioned in over 80 countries and regions starting from its first delivery in 2013. Today,the establishment of the new factory will be another significant milestone for this rapidly growing company,who continues to play a pioneering and leading role in the industry.

"It's an important step for Pylontech to set localized production as our partners especially in Europe are eager to have more secured and stable supply chain." Said Geoffrey Song,vice president of Pylontech,"We picked up Veneto as the starting place which enjoys both long time wisdom from Galilei and fresh friendship from Energy. I believe in the super bright future of renewable energy industry in EU by leveraging the global wisdom and local resources. "

About Pylontech

Pylontech (SHSE:688063) is a dedicated battery energy storage system (BESS) provider by consolidating its expertise in electrochemistry,power electronics and system integration to deliver reliable energy storage solutions globally. With continuous and rapid growth,it has become a leading provider of energy storage system worldwide.

About Energy S.p.A.

Energy S.p.A. founded in 2013,listed on the Euronext Growth Milan market of the Italian Stock Exchange,is an energy storage systems leader for both residential and large-scale applications sector. It has sold and installed more than 53,000 systems across the country,with a focus on the residential,commercial,industrial,utilities and electric mobility markets.