Sunrise New Energy Announces New Customer Win of HiTHIUM, Which Ranked First in China’s Energy Storage Battery Manufacturers
September 29 2023 - 9:25AM
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we”
or “our”) (NASDAQ: EPOW), today announced a new customer win of
Xiamen HiTHIUM Energy Storage Technology Co., Ltd. ( “HiTHIUM”).
HiTHIUM is a leading manufacturer of top quality stationary energy
storage products for utility-scale, commercial, and industrial
applications. HiTHIUM ranked first in China’s energy storage
market in terms of the number of projects supplied in 2022, and it
also supplied top-shelf stationary energy storage products in
Europe and worldwide. HiTHIUM recently achieved a valuation
exceeding 4.1 billion USD in its latest funding round in July 2023.
More information about HiTHIUM can be found at the company’s
website at https://hithium.com/en/about-us.
HiTHIUM sets stringent requirements for product
quality from its suppliers. In a highly competitive bidding
process, which included the participation of all of China's top
five anode material manufacturers, Sunrise emerged as one of the
three successful bidders. This order represents an initial
small-scale validation order aimed at establishing a solid business
relationship. Both Sunrise and HiTHIUM have high expectations for
significant future expansion in their collaboration.
Sunrise has made breakthroughs in both electric
vehicle power battery and energy storage battery materials. The
order from HiTHIUM marks that Sunrise’s recognized by leading
energy storage battery manufacturers. Previously, Sunrise had
received orders from leading power battery companies such as CATL
and BYD.
“We are thrilled to announce this major customer
win. HiTHIUM is a very well-respected company in energy storage
batteries, and we look forward to a long and prosperous
relationship together.” said Sunrise’s Chairman, Mr. Haiping Hu. “
We anticipate to enter a comprehensive era of energy storage in the
next three years, encompassing global energy storage, industry-wide
energy storage, and residential energy storage. Energy storage will
expand on an unprecedented scale, at an accelerated pace, and with
broader coverage worldwide. We expect that the rapid growth in
orders from energy storage battery manufacturers will drive
remarkable financial growth for Sunrise.”
About Sunrise New Energy Co.,
Ltd
Headquartered in Zibo, Shandong Province, China,
Sunrise New Energy Co., Ltd., through its joint venture, is engaged
in the manufacturing and sale of graphite anode material for
lithium-ion batteries. The Company’s joint venture is constructing
a 260,543 ㎡manufacturing plant in Guizhou Province,
China. The plant runs on inexpensive electricity from renewable
sources, which helps to make Sunrise New Energy a low-cost and
low–environmental-impact producer of graphite anode
material. Mr. Haiping Hu, the founder and CEO of the
Company, is a major pioneer for the graphite anode
industry in China starting from 1999. The Company’s management
team is also composed of experts with years of
experiences and strong track-records of success in the
graphite anode industry. In addition, the Company also
operates a knowledge sharing platform in China. For further
information, please visit the Company’s website
at www.sunrisenewenergy.com. The Company also maintains a
Twitter account (@sunrisenewener1) to keep investors up to date on
the latest development of the Company.
Forward-looking statement
Certain statements in this press release
regarding the Company's future expectations, plans and prospects
constitute forward-looking statements as defined by Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements about plans, goals, objectives,
strategies, future events, expected results, assumptions and any
other factual statements that have not occurred. Any words that
refer to "may", "will", "want", "should", "believe", "expect",
"expect", "estimate", "estimate" or similar non-factual words,
shall be regarded as forward-looking statements. Due to various
factors, the actual results may differ materially from the
historical results or the contents expressed in these
forward-looking statements. These factors include, but are not
limited to, the company's strategic objectives, the company's
future plans, market demand and user acceptance of the company's
products or services, technological updates, economic trends, the
company's reputation and brand, the impact of industry competition
and bidding, relevant policies and regulations, the ups and downs
of China's macroeconomic conditions, the relevant international
market conditions, and other related risks and
assumptions disclosed in the Company’s Annual Report on Form 20-F..
In view of the above and other related reasons, we advise investors
not to blindly rely on these forward-looking statements, and we
urge investors to visit the SEC’s website to consult the
company's relevant documents for other factors that may affect the
company's future operating results. The company is under no
obligation to make public amendments to changes in these
forward-looking statements due to specific events or reasons unless
required by law.
For more information, please
contact:
The Company:IR
DepartmentEmail: IR@sunrisenewenergy.comPhone: +86
4009919228
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