DOVER, USA, Sept. 23, 2026 (GLOBE NEWSWIRE) -- E-Power Inc. ("E-Power," the "Company," "we" or "our") (NASDAQ: EPOW), a provider of advanced battery materials and AI Data Center (AIDC) microgrid solutions, today announced that its indirectly wholly-owned subsidiary, Shandong Sunrise Technology Co., Ltd. ("Shandong Sunrise"), has completed the equipment process design and technical consulting services required under its turnkey contract with Shandong Fusion New Material Co., Ltd. (the "Customer"), announced on August 27, 2026 (the "Contract"), and has received the associated payment of RMB 61,825,140 (approximately US$9.2 million) in full.
The technical services represent the first completed phase of the Contract, which has a total value of RMB 343,473,000 (approximately US$51.2 million) and was awarded to Shandong Sunrise in June 2026. The work was performed by the Company's engineering team.
Completed Contract Scope and Consideration
- Artificial Graphite Anode Line: Full process and equipment design and technical consulting services for a fully automated production line with a designed capacity of 20,000 tons per year - RMB 37,474,515 (approximately US$5.6 million).
- Silicon-Carbon Anode Line: Full process and equipment design and technical consulting services for a production line with a designed capacity of 1,000 tons per year - RMB 24,350,625 (approximately US$3.6 million).
- Total: RMB 61,825,140 (approximately US$9.2 million), representing approximately 18% of the total Contract value, received in full.
From Award to Execution
The completion of this work represents the first component of the Contract, with the related services delivered and payment received in full. The remaining obligations required under the Contract include equipment manufacture and phased delivery, on-site installation and commissioning, operator training, testing and environmental auxiliary equipment, spare parts, technical documentation and a 12-month warranty period, culminating in load-bearing trial production and final acceptance at the Customer's advanced electronic materials project in the Laiwu District of Jinan, Shandong Province, China.
The engagement reflects the Company's strategy of commercializing process know-how developed through the construction and operation of anode facilities through its joint venture and subsidiaries. The design work delivered under this phase covers both conventional artificial graphite production and silicon-carbon anode material, a next-generation material for high-energy-density batteries.
"The completion of this Contract phase and collection of the full payment is the kind of milestone we said we would report," said Mr. Haiping Hu, the founder, CEO and Chairman of E-Power Inc. "We believe that design and process engineering is where our accumulated know-how is most directly monetized, and that the completion of this phase provides both our Customer and our shareholders with a concrete measure of execution. We intend to continue to provide updates as the equipment phases of the Contract progress."
About E-Power Inc.
E-Power Inc., through its subsidiaries, joint venture and variable interest entity structure, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. Through its joint venture, the Company operates a plant in Guizhou Province, China, powered by electricity from renewable sources, which contributes to the plant's competitive production costs and reduced environmental impact in the production of graphite anode material. Mr. Haiping Hu, the founder, CEO and Chairman of the Company, has been a pioneer in the graphite anode industry since 1999. The Company's management team is composed of experts with years of experience and successful track records in the graphite anode industry. For further information, please visit the Company's website at www.sunrisenewenergy.com.
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 the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions, the completion of the remaining phases of the Contract, the timing of equipment manufacture, delivery, installation and acceptance, and any statements that are not historical facts. Words such as "may," "will," "plan," "anticipate," "should," "believe," "expect," "estimate," and similar words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or from those expressed or implied by 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, the Company's ability to complete the remaining phases of the Contract and the timing of equipment manufacture, delivery, installation, commissioning and final acceptance, technological updates, economic trends, the Company's reputation and brand, the impact of industry competition, relevant policies and regulations, China's macroeconomic conditions, international market conditions, and other related risks and assumptions. In view of the above and other related reasons, we advise investors not to place undue reliance on these forward-looking statements, and we urge investors to visit the website of the United States Securities and Exchange Commission to review the Company's filings for other factors that may affect the Company's future operating results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
For more information, please contact:
The Company: IR Department
Email: IR@sunrisenewenergy.com
Phone: +1 4084890472
