Sunrise New Energy Announces $16 Million Order for Integrated Generation, Grid, and Energy Storage Project Signed at the 20th China-ASEAN Expo
October 25 2023 - 8:46AM
Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or
“our”) (NASDAQ: EPOW), today announced a major milestone as it has
been assigned as the supplier of anode materials for the 2.5 GW
Integrated Generation, Grid, and Energy Storage project (“IGGES
Project”). The IGGES Project's signing ceremony took place on
September 16th, with the participation of Shenzhen Zhuhai New
Energy Co., Ltd., Guangxi Longyuan Power Group Corporation Limited,
China Railway Construction Corporation Limited (CRCC) and the
People's Government of Tiandong County, Baise, Guangxi, at the 20th
China-ASEAN Expo and China-ASEAN Business and Investment Summit
attended by Chinese Premier Li Qiang.
The IGGES Project aims to achieve efficient operation of the
energy system, enhance the utilization of renewable energy, reduce
reliance on conventional fossil fuels, and strengthen the
flexibility and reliability of the energy system. As a key
component of this strategic initiative, Sunrise (Guizhou) New
Energy Materials Co., Ltd has been signed to supply 3,000 tons of
anode materials.The 2.5 GW project serves as an initial pilot for
the integrated 50 GW IGGES Project over the next five years. It is
estimated that a total of 60,000 tons of anode materials will be
provided by Sunrise for the IGGES during this period.
“This significant contract signifies a substantial and stable
order for Sunrise. The partnership with the Integrated Generation,
Grid, and Energy Storage project showcases the company's commitment
to providing high-quality anode materials and fostering sustainable
energy solutions.” stated Sunrise’s Chairman, Mr. Haiping Hu. “By
participating in this groundbreaking project, Sunrise further
solidifies its position as a trusted supplier in the energy storage
industry. The company is proud to contribute to the advancement of
renewable energy integration and the development of a more
sustainable and resilient energy infrastructure.”
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
Sunrise New Energy (NASDAQ:EPOW)
Historical Stock Chart
From Apr 2024 to May 2024
Sunrise New Energy (NASDAQ:EPOW)
Historical Stock Chart
From May 2023 to May 2024