Sunrise New Energy Announces $11.3 Million Order from CATL, the World’s Largest EV Battery Manufacturer
ZIBO, China, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that its joint venture graphite anode manufacturing company has received an order valued at $11.3 million from CATL.
CATL is the largest volume EV battery manufacturer in the world and also builds lithium-ion batteries for use in energy storage and commercial applications. CATL trades on the Shenzhen Stock Exchange and has a market capitalization of over $160 billion and has annual sales exceeding $30 billion. CATL rigorously tested samples of Sunrise’s graphite anode before placing the order.
The Company believes that it will ship the products out before the end of 2022. The Company had already received an order from CATL valued at $8.4 million dollars and delivered earlier in the year, bringing the total orders from this customer to over $19.7 million up from zero in 2021.
“I am very pleased to have signed this order as I admire CATL for its innovation and leadership in the EV battery market,” continued the Chairman of the Company, Mr. Haiping Hu, “Though this is just the beginning of our relationship with CATL, with the right care and nurturing we expect it to expand significantly over time.”
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 The Company also maintains a Twitter account (@sunrisenewener1) to keep investors up to date on the latest development of the Company.
About CATL
Contemporary Amperex Technology Co., Limited (CATL) engages in the manufacture and sale of electric vehicle and energy storage battery systems worldwide. The company's products are used in road passenger transport and heavy-duty transport application; light trucks, minibuses, and minivans for express, supermarket, and fresh food deliveries; electric washing vehicles, electric washing and sweeping vehicles, electric garbage trucks, and other vehicles; forklifts and slag trucks; two-wheeled vehicles for commuting, food delivery, express delivery, etc.; vessel electrification; and special vehicle solutions. It also provides battery recycling services. Contemporary Amperex Technology Co., Limited has a strategic partnership with BASF SE. The company was founded in 2011 and is headquartered in Ningde, China.
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.
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