Sunrise New Energy Announces New Customer Win with RMB19 Million Order from Pylon Technologies

Rhea-AI Summary

Sunrise New Energy (NASDAQ: EPOW) has secured a significant order valued at RMB19 million (about $2.6 million) from Pylon Technologies, a prominent player in energy storage systems. This order is for graphite anode material, which serves as a validation for their partnership. The two companies anticipate substantial growth in their business relationship over time. Sunrise operates a manufacturing plant in Guizhou Province, utilizing renewable energy sources to minimize costs and environmental impact. Chairman Haiping Hu expressed enthusiasm for the collaboration.

Positive

• Secured an initial order of RMB19 million (~$2.6 million) from Pylon Technologies.
• Partnership with a reputable company in the energy storage sector.
• Potential for significant business expansion with Pylon Technologies.
• Manufacturing plant operates on renewable energy, enhancing sustainability.

Negative

• None.

ZIBO, China, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced a new customer win with an initial RMB19 million (approximately $2.6 million) order from Pylon Technologies Co., Ltd.

Pylon Technologies is one of the world’s leading manufacturers of energy storage systems. It is a public company that trades on the Shanghai Stock Exchange (ticker: 688063) and has a $9 billion market capitalization.  More information about Pylon Technologies can be found at the company’s website at https://en.pylontech.com.cn/.

The order is for Sunrise’s graphite anode. It is a validation order to establish the relationship. Both companies expect the business to expand substantially over time.

“We are thrilled to announce this major customer win,” said Sunrise New Energy’s Chairman, Mr. Haiping Hu. “Pylon Technologies is a very well-respected company that is at the forefront in combating climate change with their renewable energy backup systems. We look forward to a long and prosperous relationship together.”

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 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 international market conditions served by the company, and other related risks and assumptions disclosed in the prospectus. 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 significance of the recent order by Sunrise New Energy (EPOW)?

The recent order valued at RMB19 million (~$2.6 million) from Pylon Technologies is significant as it establishes a partnership and opens avenues for future business expansion.

Who is Pylon Technologies and how does it relate to Sunrise New Energy?

Pylon Technologies is a leading manufacturer of energy storage systems and a key customer for Sunrise New Energy, which will supply graphite anodes for their systems.

What type of product is Sunrise New Energy supplying to Pylon Technologies?

Sunrise New Energy is supplying graphite anode material, essential for lithium-ion batteries.

What are the potential future plans between Sunrise New Energy and Pylon Technologies?

Both companies expect substantial growth in their business relationship, indicating potential for larger orders and collaborations in the future.