Wuxi Paragonage Technoloy Co., Ltd. (hereinafter referred to as "Paragonage") completed tens of millions of dollars of Pre-A round of financing, the investor for the Wuxi Municipal Public Utilities Industry Group Limited and the Wuxi Yunlin Industrial Development Investment Fund (limited partnership), this round of financing funds will be mainly used for the construction of the pilot line.

This is the second round of financing Paragonage has received in the past three months, and the completion of this round of financing further validates Paragonage's technical strength and market potential in the industry as a pioneer in the field of domestic sodium-ion batteries. By now, Paragonage's shareholders cover Xiongtao shares, New Aegis, Grimmie, Jingshan Light Machinery, Xingyuan Material, Zhengtong Electronics, Yunlin Fund and Wuxi Municipal Affairs Group and other well-known industry and investment organizations, and the injection of many shareholders will also bring more strategic resources and cooperation opportunities for the company.

Paragonage is a science and technology enterprise focusing on the research and development, production and sales of sodium-ion batteries and solutions, and it has always been the company's pursuit to utilize and bring into play the characteristics of sodium-ion batteries. At present, Paragonage's sodium-ion battery system has a complete layout of models, and has designed and developed a series of products with different application directions, such as high energy density, high power, long cycle, and high safety, which can be effectively used in the fields of light travel, small power, and energy storage. With its profound technical strength, Paragonage has been awarded the "Top Ten Battery Cell Enterprises" at the Fourth Anniversary Celebration of Guangdong Battery Industry Association and the Gold Award Ceremony of 2023 World Battery Industry Expo after being awarded the "First Batch of Sodium-ion Battery Evaluation and Assessment Units in China". The honorary title of "Top Ten Battery Core Enterprises".

Paragonage has a clear path to commercialization, has signed a strategic cooperation agreement with the head of the upstream industry chain, and has also reached a joint research and development and cooperation intentions with energy storage companies, communications companies, data center companies and institutions to ensure that the research and development process to meet the actual needs of the market. Next, Paragonage will continue to focus on the R&D and innovation of product technology, provide better and more reliable products and solutions, deepen the production capacity layout, and steadily improve the delivery capability of various scenarios to help mass production of sodium-ion batteries, and inject fresh vitality into the development of the new energy industry!