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Sunrise New Energy's Subsidiary Secures $28 Million Investment, Bolstering Company's Cash Flow
ZIBO, China, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today
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[{"type":"text","content":"ZIBO, China, Nov. 29, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced its subsidiary, Sunrise (Guizhou) New Energy Materials Co., Ltd. (“Sunrise Guizhou”) has secured a $28 million investment. Sunrise Guizhou has already signed an investment agreement with the investor, stating the investment funds will be realized within 60 working days. “We are delighted that this investment will effectively supplement the company's cash flow, which will greatly assist in fulfilling the delivery of our existing substantial orders.” stated Sunrise’s Chairman, Mr. Haiping Hu. \"We have successfully secured orders from esteemed clients, including the world's largest power battery manufacturers, CATL and BYD, as well as several top-ranking energy storage battery companies. Our commitment to excellence in product quality, technological innovation, and customer satisfaction has enabled us to forge strong partnerships with industry leaders.” 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. Forwa...