Sunrise New Energy Co., Ltd. (NASDAQ: EPOW) has clinched a monumental deal, announcing the acquisition of a substantial order totaling 25,000 tons of energy storage materials from Xiamen HiTHIUM Energy Storage Technology Co., Ltd. (HiTHIUM). This strategic partnership marks a significant foray for Sunrise into the burgeoning energy storage battery materials market, signaling new avenues for growth and innovation while reinforcing its stronghold in electric vehicle battery materials.
HiTHIUM, renowned globally for its expertise in lithium-ion energy storage, boasts a comprehensive portfolio covering core materials, research, development, production, and sales of lithium iron phosphate energy storage batteries and systems. With an unwavering commitment to safety, efficiency, and sustainability, HiTHIUM has cemented its position as a frontrunner in the industry. In 2023, global energy storage cell shipments surged to 196.7 GWh, with HiTHIUM accounting for over 15 GWh, reflecting its dominance in the market.
The decision by HiTHIUM to entrust Sunrise with a substantial 25,000-ton initial order underscores not only confidence in Sunrise’s products but also heralds a collaborative trend among experts in the energy storage industry for 2024. Sunrise’s innovative high-energy-density ultra-long-cycle products, capable of achieving an impressive 10,000 cycles, have garnered acclaim from numerous clients. With two clients already in mass production and nine clients undergoing trials, this initial order is just the beginning, with a series of subsequent orders anticipated to follow suit.
Haiping Hu, Chairman of Sunrise, remarked, “This partnership represents a strategic milestone for Sunrise as we embark on a new phase of growth in the energy storage market. By joining forces with HiTHIUM, we are poised to deliver cutting-edge solutions that meet the evolving needs of our global customers and contribute to a more sustainable future.”
