Recently, Wuxi Paragonage Technology Co., Ltd (hereinafter referred to as "Paragonage") completed tens of millions of yuan 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 Government Group and other well-known industry and investment institutions, and the injection of several 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 battery cells and solutions, and the research and development of using and giving full play to the characteristics of sodium-ion batteries is the company's unchanging pursuit. 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 Core Enterprises" at the Fourth Anniversary Celebration of Guangdong Battery Industry Association and the Gold Award Presentation Ceremony of 2023 World Battery Industry Expo after being awarded the "First Batch of Sodium-ion Battery Evaluation and Assessment Units in China". The honourable title of "Top Ten Battery Core Enterprises".

Through the rapid iteration of technology, the first generation of sodium ion battery products have entered the small batch trial production stage, is now accelerating the production line pilot. This fund-raising to build the pilot line capacity is expected to 0.1Gwh, will be put into production by the end of this year, mainly focusing on the development and application of sodium-ion cylindrical batteries. At the same time, Paragonage is also planning the first phase of mass production line, the scale of 5GWh, will start rolling construction and production next year, the plant line completed with a larger scale of production and price advantage of the core and module delivery capacity.