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Sunrise New Energy Secures 10,000 Tons Incremental Order from Existing Customer Narada Power for 2024, 3 Times the Order for 2023
ZIBO, China, Dec. 11, 2023 (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, Dec. 11, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Narada Power, a leading player in the energy storage industry, has placed an incremental order for 10,000 tons of anode materials for the upcoming year, further solidifying their cooperation. Having successfully undergone a rigorous selection process, Sunrise emerged as one of the core suppliers for Narada Power, outstanding from fierce competition in previous bidding rounds. Sunrise is on track to fulfill the delivery of 3,500 tons of products to Narada Power as of the end of 2023. The latest order from Narada Power, amounting to 10,000 tons for 2024, demonstrates its continued trust and reliance on Sunrise's expertise and products. \"This order marks a significant milestone for our company, as it signifies a substantial increase in sales revenue. The strengthened cooperative relationship with Narada Power solidifies Sunrise's position as a trusted supplier. \" Mr. Haiping Hu, the Chairman of Sunrise stated, \"We have always been dedicated to providing high-quality materials to top-tier companies in the power battery and energy storage battery sectors. Since 2023, we have made significant strides in supplying our core customers. In the coming year, we are confident in expanding our collaboration with renowned industry leaders like CATL, BYD, and Narada, further bolstering our financial indicators and profitability.\" About Narada Power Narada Power is a globally recognized leader in the energy storage battery industry.Since established in 1994, it has achieved large-scale applications of independent energy storage plants, hybrid energy systems, and integrated management of generation, grid, and load in multiple scenarios. As a public traded company, its market capitalization is approximately $1.54 billion as of December 11, 2023. Narada 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 (...