Pylontech added to MSCI China A Onshore Index
Pylontech, 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 on August 11, 2022. And beyond that, Pylontech has also been included in MSCI China All Shares Index.
MSCI 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.
MSCI’s inclusion of Pylontech is a recognition of its comprehensive strength, competitiveness, industry position and stock circulation. 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.
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.
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.
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