Sunrise New Energy Co Ltd (NASDAQ:EPOW), operating as E-Power Inc., saw its stock price rise 27.4% at the close of trading on Friday after the company disclosed it had secured a long-term supply agreement for anode materials with a global lithium-ion battery manufacturer ranked consistently among the top five in the industry for energy storage and power battery shipments.
In addition to the supply contract, the two parties have recorded a strategic intent to jointly fund and develop a manufacturing facility in Indonesia with the capability to produce 30,000 tonnes of lithium-ion battery anode material annually. The announcement framed the planned plant as a deeper extension of the relationship, not merely a supplier agreement.
E-Power described its selection by the unnamed partner as the result of a "stringent supplier qualification process." The company highlighted that its competitive cost structure and product reliability were important factors in winning the business.
The proposed Indonesian facility is presented in the announcement as an opportunity to leverage regional resource advantages while integrating with the partner's global manufacturing footprint. According to the company statement, the combined approach is intended to deliver a more resilient, lower-carbon, and cost-efficient supply chain for anode materials.
Company commentary emphasized the strategic positioning of the partnership to serve both automotive and energy-sector customers through localized production within a global network. The announcement did not include financial terms or more detailed commercial or operational timetables.
Market reaction was immediate, with E-Power's shares recording the sizable intraday gain noted at Friday's close. Beyond the stock move, the development signals a planned manufacturing expansion in Southeast Asia focused on battery component production, driven by an established global battery maker and E-Power's role as a qualified supplier and potential co-investor.
Key points
- E-Power (Sunrise New Energy) announced a long-term anode material supply contract with a global top-5 lithium-ion battery maker - impacting battery materials and electric-vehicle supply chains.
- Both parties expressed strategic intent to co-invest in a 30,000-tonne-per-year anode material facility in Indonesia - relevant to manufacturing and regional industrial investment.
- The partner selection followed a "stringent supplier qualification process," with E-Power citing competitive costs and product reliability as decisive factors - relevant to procurement and supplier ecosystems.
Risks and uncertainties
- Financial terms and detailed project timelines were not disclosed - creating uncertainty for investors and supply-chain planners about capital commitments and completion dates.
- The announcement describes a strategic intent to co-invest rather than an executed investment agreement - the project remains subject to definitive agreements and potential change.
- The partner is unnamed in the announcement, limiting external verification of integration plans within the partner's global manufacturing network.