Sunrise New Energy Makes Breakthrough in the Manufacturing Process for Silicon-based Anode for Next-Generation EV Batteries

Rhea-AI Summary

Sunrise New Energy Co., Ltd. (NASDAQ: EPOW) announced a breakthrough in manufacturing silicon-based anodes, reducing facility construction costs by 80% and product costs by 50%. This innovation enhances the economic viability of long-range EV batteries, offering four times the capacity of graphite anodes. The company aims to address consumer range anxiety while positioning itself as a leading anode manufacturer. Major clients have shown strong interest in these advanced products, suggesting a positive market response. This development is crucial for revolutionizing the electric vehicle industry.

Positive

• Reduced manufacturing facility costs by 80%.
• Decreased cost of silicon-based anode product by 50%.
• Improved battery capacity, enhancing EV range without added weight.
• Strong interest from major clients indicates positive market reception.

Negative

• None.

• Reduces cost to build manufacturing facility by 80%
• Reduces cost of silicon-based anode product by 50%
• Invention to make longer-range EV batteries economically viable
  
  

Zibo, Shandong, China, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that the company has developed a new process for the manufacturing of silicon-based anode that reduces the cost to build a manufacturing facility by 80% and reduces the cost of the finished silicon-based anode product by 50% compared to current manufacturing processes.

Silicon-based anode is universally accepted as the successor to graphite anode found in today’s lithium-ion EV batteries because it has 4x the capacity, which is 1500mAh/g compared to 370 mAh/g. These next-generation batteries using silicon-based anode will double the range of EVs without increasing weight. However, despite the huge advantages that silicon-based anode will bring to EVs, the current cost to manufacture silicon-based anode would dramatically increase the cost of already expensive EV batteries, making them economically unviable for all but very high-end vehicles. Sunrise’s breakthrough will bring the cost of these next-generation, long-range batteries sharply down to a slight premium to current lithium-ion batteries.

“This breakthrough on the manufacturing of silicon-based anode is a huge positive, not just for Sunrise but also for consumers, as it will eliminate range anxiety that is keeping some of them from switching to EVs. Our major clients gave highly praise and expressed strong interests over our silicon-based anode products.” said Sunrise’s Chairman, Mr. Haiping Hu. “We plan on becoming the world’s largest and best manufacturer of anode materials for EV batteries and as such developing industry leading technology for the manufacturing of next-generation anode was a very important step.”

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 recent breakthrough did EPOW announce regarding silicon-based anodes?

EPOW announced a new manufacturing process for silicon-based anodes that reduces facility costs by 80% and product costs by 50%.

How does the silicon-based anode impact electric vehicle battery performance?

Silicon-based anodes offer four times the capacity compared to traditional graphite anodes, significantly increasing the range of EVs.

What are the implications of EPOW's cost reductions on the electric vehicle market?

The cost reductions make long-range EV batteries more economically viable, potentially increasing consumer adoption of electric vehicles.

When was EPOW's breakthrough in silicon-based anode manufacturing announced?

The announcement was made on October 24, 2022.

How does EPOW plan to position itself in the anode materials market?

EPOW aims to become the world's largest and best manufacturer of anode materials for EV batteries.