Sunrise New Energy's Subsidiary Secures $28 Million Investment, Bolstering Company's Cash Flow

Rhea-AI Summary

Sunrise New Energy Co., Ltd. (NASDAQ: EPOW) announced that its subsidiary, Sunrise (Guizhou) New Energy Materials Co., Ltd., has secured a $28 million investment, which will greatly assist in fulfilling the delivery of existing substantial orders from esteemed clients like CATL and BYD.

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. 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 company name and ticker symbol of the organization mentioned in the press release?

The company mentioned in the press release is Sunrise New Energy Co., Ltd. and its ticker symbol is EPOW.

What is the amount of investment secured by Sunrise (Guizhou) New Energy Materials Co., Ltd.?

Sunrise (Guizhou) New Energy Materials Co., Ltd. has secured a $28 million investment.

Which esteemed clients have placed substantial orders with Sunrise New Energy Co., Ltd.?

Esteemed clients like CATL and BYD, as well as several top-ranking energy storage battery companies, have placed substantial orders with Sunrise New Energy Co., Ltd.

What is the commitment of Sunrise New Energy Co., Ltd. to product quality, technological innovation, and customer satisfaction?

Sunrise New Energy Co., Ltd. is committed to excellence in product quality, technological innovation, and customer satisfaction, enabling them to forge strong partnerships with industry leaders.