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EPOW Receives $16 Million Patent Loan to Fund Rapid Growth – TipRanks Financial Blog

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ZIBO, China, Sept. 18, 2023 (GLOBE NEWSWIRE) — Sunrise New Energy Co., Ltd. (“Sunrise  New Energy”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that Sunrise (Guizhou) New Energy Material Co., Ltd. has received credit of RMB 50 million, or approximately $6.85 million based on the appraisal value of its 7 patents.

The loan was issued by Shanghai Pudong Development Bank Co., Ltd. Guiyang Branch. According to the asset appraisal report issued by the appraisal agency assigned by the bank, the appraisal value of the 7 patents in the appendix is RMB 117 million, or approximately $16 million.

Mr. Haiping Hu, Chairman of Sunrise New Energy was invited to attend the Forum “Green Innovation and Financial Support to High Quality Economic Development in Guizhou Province” as a reputable representative of green energy enterprises and signed contract with the bank on September 14. “This patent loan shows the recognition of the value of our patents from the market and the financial institutions. These patents are valuable as they provide competitive edge and position the Company as a leader in lithium battery industry. As our patent line continues to expand, more patents can be used for financing. This will continue to inject cash into the Company.” said Mr. Haiping Hu. “This loan came at the opportune time as our orders have grown rapidly. As such, having the credit to help fund our rapid growth without dilution to shareholders is a very positive development.”

Patent Appendix:
2017215525393-A system for intermittent coking to produce anode coke
2018216838031-A production device for multi-stage series continuous heating, coating and granulation of anode materials
2022104007964-A high energy density fast charging graphite composite material and its preparation method
202210400788X-A long-life fast-charging lithium-ion battery anode material and its preparation method
2022104007748-A sulfur-containing fast-ion conductor-coated graphite composite material and its preparation method
2022104007752-A method for preparing anode materials for lithium-ion batteries
2022108796377-A method for preparing high energy density fast charging graphite anode material

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 is constructing…

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