Sunrise New Energy Announces Delivery of Over 3,000 Tons to Narada Power by End of September, Driving Significant Revenue Growth
October 17 2023 - 9:25AM
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or
“our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou)
New Energy Materials Co., Ltd. has successfully delivered over
3,000 tons of products to Narada Power from January to September
2023. Sunrise has become a strategic supplier for Narada Power
since April 2022, following a rigorous selection process. In 2022,
we supplied 1,200 tons of products, and we anticipate reaching an
annual supply of 5,000 tons in 2023 and a remarkable 8,000 tons in
2024. Becoming a strategic supplier for Narada Power has brought
predictable and sustained revenue growth for the Company.
“Being a supplier to the most renowned enterprises in the
electric vehicle and energy storage markets, I am proud to announce
that Sunrise has made significant strides as a leading player in
these two key sectors of lithium battery industry. Our esteemed
customers include CATL, BYD, Narada Power, and HiTHIUM. ” said
Sunrise’s Chairman, Mr. Haiping Hu. “ We dedicated to
advancing battery technologies and contributing to a sustainable
and greener future.”
About Narada Power
Narada Power is a globally recognized leader in the energy
storage battery industry, with over 15 years of experience. As
a public traded company, its market capitalization is approximately
$1.65 billion. consistently ranks among the top suppliers in
BloombergNEF's "Global Energy Storage Battery Suppliers" list and
has established strong partnerships with industry giants worldwide
with a signed contract capacity of approximately 10 GWh as of 2023.
Narada Power has cooperated with European Power, Electricité de
France (EDF), and American Energy Company. Additionally, its
customers include Yuneng Holdings, China Energy Engineering
Corporation (CEEC), and China Energy Investment Corporation.
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 Department Email: IR@sunrisenewenergy.com
Phone: +86 4009919228
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