Sunrise New Energy Makes Breakthrough in the Manufacturing

• Reduces cost to build manufacturing facility by 80%
• Reduces cost of silicon-based anode product by 50%
• Invention to make longer-range EV batteries economically viable

Zibo, Shandong, China, Oct. 24, 2022 (GLOBE NEWSWIRE) — Sunrise New Energy Co., Ltd. (“Sunrise”, the “Company”, “we” or “our”) (NASDAQ: EPOW), today announced that the company has developed a new process for the manufacturing of silicon-based anode that reduces the cost to build a manufacturing facility by 80% and reduces the cost of the finished silicon-based anode product by 50% compared to current manufacturing processes.

Silicon-based anode is universally accepted as the successor to graphite anode found in today’s lithium-ion EV batteries because it has 4x the capacity, which is 1500mAh/g compared to 370 mAh/g. These next-generation batteries using silicon-based anode will double the range of EVs without increasing weight. However, despite the huge advantages that silicon-based anode will bring to EVs, the current cost to manufacture silicon-based anode would dramatically increase the cost of already expensive EV batteries, making them economically unviable for all but very high-end vehicles. Sunrise’s breakthrough will bring the cost of these next-generation, long-range batteries sharply down to a slight premium to current lithium-ion batteries.

“This breakthrough on the manufacturing of silicon-based anode is a huge positive, not just for Sunrise but also for consumers, as it will eliminate range anxiety that is keeping some of them from switching to EVs. Our major clients gave highly praise and expressed strong interests over our silicon-based anode products.” said Sunrise’s Chairman, Mr. Haiping Hu. “We plan on becoming the world’s largest and best manufacturer of anode materials for EV batteries and as such developing industry leading technology for the manufacturing of next-generation anode was a very important step.”

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