Sunrise New Energy(US:EPOW) Newsfilter·2024-03-07 14:25Company Overview - Sunrise New Energy Co., Ltd. is headquartered in Zibo, Shandong Province, China, and specializes in manufacturing and selling graphite anode material for lithium-ion batteries [4] - The company is constructing a manufacturing plant of 260,543 square meters in Guizhou Province, utilizing inexpensive electricity from renewable sources, positioning itself as a low-cost and environmentally friendly producer [4] - The founder and CEO, Mr. Haiping Hu, has been a pioneer in the graphite anode industry in China since 1999, supported by a management team with extensive experience [4] Industry Context - The global energy storage cell shipments reached 196.7 GWh in 2023, with HiTHIUM accounting for over 15 GWh, indicating a growing market for energy storage solutions [2] - HiTHIUM specializes in lithium-ion energy storage, offering a comprehensive portfolio that includes core materials, research, development, production, and sales of lithium iron phosphate energy storage batteries and systems [2] Strategic Developments - Sunrise has announced a significant order of 25,000 tons of energy storage materials from HiTHIUM, marking its entry into the energy storage battery materials market [1][3] - This collaboration is seen as a strategic milestone for Sunrise, as it aims to deliver innovative solutions that meet the evolving needs of global customers and contribute to sustainability [3] - The initial order from HiTHIUM reflects confidence in Sunrise's products and is expected to lead to a series of subsequent orders, with two clients already in mass production and nine undergoing trials [3]