China-based Sunrise New Energy (NASDAQ: EPOW) secured financing of US $14 million from China Everbright Bank. This low-interest loan bolsters the company’s liquidity, ensuring seamless production and delivery of client orders.

Among its customers are battery manufacturers such as Contemporary Amperex Technology Co. Limited (CATL), BYD and HiTHIUM.

Headquartered in Zibo, Shandong Province, Sunrise New Energy, through its joint venture, manufactures and sells graphite anode material for lithium-ion batteries, including artificial graphite, natural graphite, and silicon-carbon composite materials. The joint venture is constructing a 260,543 ㎡ manufacturing plant in Guizhou Province, China.

The plant runs on electricity from renewable sources, which helps to make Sunrise New Energy a low-cost and low–environmental-impact producer of graphite anode material.

Sunrise New Energy says that its natural graphite anode materials have long cycle times of 2200—about 300%-400% of other manufacturers. In addition, the natural graphite products have higher energy density and lower price than artificial graphite.

Earlier this month, EPOW secured an order for 25,000 tons of materials from Xiamen HiTHIUM Energy Storage Technology. HiTHIUM’s portfolio encompasses core materials, research, development, production, and sales of lithium iron phosphate energy storage batteries and systems.

In 2023, global energy storage cell shipments reached 196.7 GWh, with HiTHIUM accounting for more than 15 GWh.