Sunrise New Energy Announced the project of "Sodium-ion battery hard carbon anode material research and development" has passed the review of Guizhou Provincial Science and Technology Support Plan

Rhea-AI Summary

Sunrise New Energy Co., Ltd. announced that their project on 'Sodium-ion battery hard carbon anode material research and development' has passed the review of the Science and Technology Support Plan of Guizhou Provincial Department of Science and Technology. Sodium-ion batteries are environmentally friendly and low-cost alternatives to lithium-ion batteries, with an average cost that will be 25%-35% cheaper than lithium-ion batteries after large-scale production. The development of high-performance anode materials for Sodium-ion batteries is crucial for their rapid development.

ZIBO, China, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that the project of "Sodium-ion battery hard carbon anode material research and development" (the “Project”) proposed by Sunrise (Guizhou) New Energy Materials Co., Ltd. has passed the review of the Science and Technology Support Plan of Guizhou Provincial Department of Science and Technology. The Guizhou Provincial Science and Technology Support Plan is aimed at conducting research on breakthrough technologies of key industries and social welfare, using government investment and policy incentives to drive industrial capital investment, to enhance the competitiveness and sustainable development of industries.

Sodium-ion batteries (SIBs) are environmentally friendly and low-cost alternatives to lithium-ion batteries (LIBs). Compared with lithium, sodium is richer and widely distributed in the earth's crust. Therefore, the average cost of SIBs after large-scale production will be 25%-35% cheaper than LIBs. However, the lack of suitable anode materials has hindered the rapid development of Sodium-ion battery. Therefore the development of high-performance anode materials for Sodium-ion battery is crucial. “We are thrilled to announce this Project” said Sunrise New Energy’s Chairman, Mr. Haiping Hu. “The breakthrough technology of the Project can effectively reduce the company's production costs, enhance our competitiveness, and cultivate a group of high-tech talents in the field of materials.”

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

FAQ

What is the project announced by Sunrise New Energy?

The project announced by Sunrise New Energy is focused on the research and development of hard carbon anode materials for Sodium-ion batteries.

What is the Science and Technology Support Plan of Guizhou Provincial Department of Science and Technology?

The Science and Technology Support Plan of Guizhou Provincial Department of Science and Technology aims to conduct research on breakthrough technologies of key industries and social welfare, using government investment and policy incentives to drive industrial capital investment.

What are Sodium-ion batteries?

Sodium-ion batteries (SIBs) are environmentally friendly and low-cost alternatives to lithium-ion batteries. They make use of sodium, which is richer and widely distributed in the earth's crust.

What is the advantage of Sodium-ion batteries over lithium-ion batteries?

Sodium-ion batteries have an average cost that will be 25%-35% cheaper than lithium-ion batteries after large-scale production. Additionally, sodium is more abundant and widely available compared to lithium.

Why is the development of high-performance anode materials crucial for Sodium-ion batteries?

The lack of suitable anode materials has hindered the rapid development of Sodium-ion batteries. Therefore, the development of high-performance anode materials is crucial to overcome this hurdle.