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Investing.com -- Sunrise New Energy Co Ltd (NASDAQ:EPOW) stock surged 6.1% Tuesday after the company announced a significant sales contract worth approximately $30 million for synthetic graphite anode materials.
The agreement, secured through its subsidiary Sunrise (Guizhou) New Energy Materials Co., Ltd., involves supplying 10,000 tons of synthetic graphite anode materials to Guizhou Jiaying Technology Co., Ltd. over a one-year period. This contract represents a strategic expansion into higher-value applications, including grid-scale energy storage systems and unmanned aerial vehicle (UAV) power solutions.
Sunrise expects the deal to provide substantial revenue contribution over the next 12 months while improving capacity utilization at its Guizhou facility. The company anticipates enhanced operating leverage and economies of scale that could support margin expansion.
"We are pleased to deepen our presence in two of the most exciting growth areas for lithium-ion batteries — energy storage and UAV applications — through this substantial contract with Jiaying," said Haiping Hu, CEO of Sunrise. "This agreement is expected to deliver stable, meaningful revenue over the next year, drive higher utilization of our Guizhou production facility, and further showcase Sunrise’s ability to support leading customers with high-performance, reliable synthetic graphite anode materials."
Guizhou Jiaying Technology specializes in lithium-ion batteries and integrated energy storage systems, with production lines serving grid-scale energy storage, commercial and residential storage systems, UPS backup power, and UAV power systems.
The partnership allows Sunrise to diversify beyond traditional applications and position itself to benefit from global investment in energy storage infrastructure and UAV technologies.
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