Sunrise New Energy’s Lithium-Ion Battery Patent Granted Key Funding in Guizhou Province

Rhea-AI Summary

Sunrise New Energy announced that its subsidiary, Sunrise (Guizhou) New Energy, has been selected for the 2024 Guizhou Provincial Key Projects for Promoting the Utilization of Intellectual Property funding list. This selection was made by the Guizhou Provincial Market Supervision Administration on June 17, 2024. The recognized project, 'Preparation Method of Lithium-Ion Battery Anode Material' (Patent No. ZL202210400775.2), addresses the critical issue of balancing power performance and initial efficiency in graphite composite materials. This innovation enhances high-energy-density fast-charging batteries, holding significant market potential. The company has generated approximately $100 million in sales revenue since 2022 by leveraging this patent in collaboration with major battery manufacturers like CATL and BYD.

Positive

• Sunrise New Energy selected for the 2024 Guizhou Provincial Key Projects funding list.
• Patent No. ZL202210400775.2 enhances graphite composite materials' initial efficiency and power performance.
• Sales revenue reached approximately $100 million since 2022.
• Collaboration with major battery manufacturers such as CATL and BYD.

Negative

• None.

Insights

Market Research Analyst

Sunrise New Energy's recent funding grant from the Guizhou Provincial Market Supervision Administration highlights its strong position in the lithium-ion battery market. The recognition of their 'Preparation Method of Lithium-Ion Battery Anode Material' patent is an important validation of their technological advancements. For investors, this indicates a solid foundation for future growth. The involvement with major players like CATL and BYD enhances their market credibility and suggests potential for continued revenue growth.

Considering the short duration of its market presence, achieving a cumulative sales revenue of $100 million is impressive and showcases market demand for their product. However, investors should also pay attention to the competitive landscape and the company's ability to maintain its technological edge over competitors.

Financial Analyst

From a financial perspective, the recognition and funding of Sunrise New Energy’s patent is a positive indicator. Achieving $100 million in sales revenue in a short period demonstrates robust market acceptance and translates to a strong revenue stream. This could positively impact the company's earnings and, by extension, its stock price. However, it is essential to monitor how the funding will be utilized to foster further innovation and market expansion.

Investors should also note the strategic implications of this funding. It not only facilitates technological advancements but also positions the company favorably for future government support and potential partnerships. The company's alignment with high-profile battery manufacturers could lead to more substantial contracts and increased market share, benefiting long-term financial health.

Tech Expert

The technological implications of Sunrise New Energy's patent are significant. The method addresses a key challenge in the lithium-ion battery industry by balancing power performance with initial efficiency. This advancement is particularly relevant as the demand for high-energy-density and fast-charging batteries continues to grow, driven by sectors like electric vehicles and consumer electronics. The collaboration with industry leaders such as CATL and BYD further validates the importance of this technology.

From an innovation standpoint, the patent enhances the company's competitive edge. However, continued R&D investments will be important to stay ahead of technological advancements in this rapidly evolving field. The successful commercialization of this patented technology is a testament to Sunrise New Energy’s capabilities, but the company must ensure ongoing improvements to maintain its market position.

ZIBO, China, June 21, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that its subsidiary, Sunrise (Guizhou) New Energy Co., Ltd., has been selected for the "2024 Guizhou Provincial Key Projects for Promoting the Utilization of Intellectual Property" funding list. This recognition was released by the Guizhou Provincial Market Supervision Administration (Intellectual Property Office) on June 17th, marking a significant milestone for the Company.

The selected project is the "Preparation Method of Lithium-Ion Battery Anode Material" (Patent No. ZL202210400775.2). This patent solves the critical and common technical issue of balancing power performance and initial efficiency. It enhances the initial efficiency and power performance of graphite composite materials, providing an excellent solution for the next generation of high-energy-density fast-charging batteries, which has vast market potential.

The Company has leveraged this patent to manufacture and widely distribute products over the past two years. Sunrise New Energy’s products are used in conjunction with well-known battery manufacturers such as Contemporary Amperex Technology Co., Ltd. (CATL) and BYD Company Limited (BYD). Due to its stable performance, the patented product holds a significant competitive advantage in the market and has received unanimous praise for its quality. Since the sales of the patented product began in 2022, despite the short period, the product has rapidly gained market traction. To date, the cumulative sales revenue has reached approximately $100 million.

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 has completed the construction of a manufacturing facility with a production capacity of 50,000 tons 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 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 published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider 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 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 Sunrise New Energy being selected for the 2024 Guizhou Provincial Key Projects funding list?

Being selected for the 2024 Guizhou Provincial Key Projects funding list is a significant milestone for Sunrise New Energy as it recognizes the company's innovative contributions to lithium-ion battery technology and provides key funding for further development.

What is Patent No. ZL202210400775.2 about?

Patent No. ZL202210400775.2, titled 'Preparation Method of Lithium-Ion Battery Anode Material,' addresses the issue of balancing power performance and initial efficiency in graphite composite materials, enhancing high-energy-density fast-charging batteries.

How much revenue has Sunrise New Energy generated from the patented product?

Since the sales of the patented product began in 2022, Sunrise New Energy has generated approximately $100 million in cumulative sales revenue.

Which major battery manufacturers use Sunrise New Energy's products?

Sunrise New Energy's products are used by well-known battery manufacturers such as Contemporary Amperex Technology Co., (CATL) and BYD Company (BYD).