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Sunrise New Energy Announces $11.3 Million Order from CATL, the World’s Largest EV Battery Manufacturer
ZIBO, China, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that
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[{"type":"text","content":"ZIBO, China, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that its joint venture graphite anode manufacturing company has received an order valued at $11.3 million from CATL. CATL is the largest volume EV battery manufacturer in the world and also builds lithium-ion batteries for use in energy storage and commercial applications. CATL trades on the Shenzhen Stock Exchange and has a market capitalization of over $160 billion and has annual sales exceeding $30 billion. CATL rigorously tested samples of Sunrise’s graphite anode before placing the order. The Company believes that it will ship the products out before the end of 2022. The Company had already received an order from CATL valued at $8.4 million dollars and delivered earlier in the year, bringing the total orders from this customer to over $19.7 million up from zero in 2021. “I am very pleased to have signed this order as I admire CATL for its innovation and leadership in the EV battery market,” continued the Chairman of the Company, Mr. Haiping Hu, “Though this is just the beginning of our relationship with CATL, with the right care and nurturing we expect it to expand significantly over time.” 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 138,000 ㎡ 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 a cumulative decades of experiences and strong track-records of success in the graphite anode industry. In addition, the Company also operates a knowledge sharing platform business. 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 ...