ZIBO, China, July 15, 2024 (GLOBE NEWSWIRE) -- Sunrise New Energy Co., Ltd. (“Sunrise New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced the development of two innovative silicon-carbon anode products designed to meet the rapidly growing demands of electric vehicles and high-end 3C digital products. These products feature high energy density and high discharge rates. One product has a capacity of 1660mAh/g with an initial efficiency of 90%, while the other offers a capacity of 1800mAh/g with an initial efficiency exceeding 91%.

Sunrise New Energy's new silicon-carbon anode products fundamentally solve the high expansion problem of silicon-based materials during charge and discharge cycles, unlike the first-generation sand-milled silicon anodes with issues of low capacity, low initial efficiency, and poor cycle life, and the second-generation silicon oxide anodes with low initial efficiency. Silicon-based anode materials have a much higher theoretical specific capacity than graphite, leading to a significant increase in the penetration rate in high-end batteries.

Currently, Sunrise New Energy's silicon-carbon anode products boast high initial efficiency, high capacity, and excellent rate performance, with cycle life exceeding 1500 cycles. These products have already been applied in high-end 3C digital products and are in the development stage for use in power batteries. The new silicon-carbon anode materials are expected to be used in solid-state batteries, potentially achieving a single-charge range exceeding 1000 kilometers.

Additionally, Sunrise New Energy is collaborating with experts to build a 500-ton production line for high-performance, high-purity resin-based porous carbon materials, expected to be in operation by the end of the year. The Company has also developed automated equipment for continuous production, aimed at significantly reducing the high equipment investment and energy consumption per ton that competitors in silicon-carbon production typically encounter.

Sunrise New Energy's development pathway involves continuously introducing a high concentration of silane gas into a reactor loaded with three-dimensional porous carbon materials with fixed pore sizes and precisely designed surfaces. The silane rapidly adsorbs and decomposes into nano-silicon within the carbon material's pores. The three-dimensional framework of the porous carbon effectively suppresses the expansion of nano-silicon during charge-discharge cycles while providing fast pathways for lithium-ion and electron transport. Additionally, through a special dual-coating process, a double-layer "protective film" forms on the surface of the silicon-carbon anode particles, enhancing initial efficiency and cycle life.

"Solid-state batteries, rapidly penetrating the energy storage, consumer, and automotive sectors, are expected to drive increased demand for silicon-carbon anode materials. Sunrise New Energy's development of advanced high-energy density and high-rate silicon-carbon anode products is recognized as a leader in the next generation of lithium battery anode materials." stated Mr. Haiping Hu, CEO of Sunrise New Energy. "We remain committed to advancing battery technology, providing efficient and reliable battery materials. We have consistently focused on advancing cutting-edge technology development and industrialization."

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 has completed the construction of a manufacturing facility with a production capacity of 50,000 tons 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 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 published on the SEC’s website. In view of the above and other related reasons, we urge investors to visit the SEC’s website and consider 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 unless required by law.

For more information, please contact:

The Company:

IR Department

Email: IR@sunrisenewenergy.com

Phone: +86 4009919228