Sunrise New Energy JV Secures $26M Credit Facility

  • Sunrise New Energy Co Ltd EPOW said its joint venture, Sunrise (Guizhou) New Energy Material Co Ltd, has received a line of credit of RMB190 million ($26 million).
  • The line of credit was extended by a syndicate led by Bank of Guizhou.
  • The credit facility signifies strong local government support for the company's graphite anode manufacturing facility. 
  • The line of credit will give Sunrise the working capital needed to ramp up production further to keep up with growing demand.
  • "This line of credit came at the opportune time as we are in the final stage of negotiations with several top EV battery companies for very large long-term purchase orders of our graphite anode," said chairman Haiping Hu.
  • Price Action: EPOW shares are trading higher by 13.14% at $3.96 on the last check Tuesday.
  • Photo Via Company
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