Epow announces its partner company graphite one awarded $37.5m from us government

Zibo, china, sept. 15, 2023 (globe newswire) --  sunrise new energy co., ltd. (“sunrise”, the “company”, “we” or “our”) (nasdaq: epow), today announced that  graphite one inc. (tsxv: gph) (otcqx: gphof) ("graphite one"), a partner of sunrise, was awarded $37.5 million from us government. sunrise and graphite one has started cooperation since april 2022, when graphite one plans to build a supply chain of graphite materials in the u.s., which is proposed to consist of a manufacturing facility producing anode and other graphite-based products using natural graphite from a graphite deposit site near nome, alaska, and sunrise is invited to assist in the design, construction and operation of the proposed manufacturing facility. in april 2022, both parties signed a memorandum of understanding ("mou") to share expertise and technology for the design, construction, and operation of graphite one's facility.  in april 2023,  graphite one announced that it has received the active anode material samples produced by sunrise.  the sample material and the sample specification data have been provided to the u.s. department of energy's pacific northwest national laboratory (“pnnl”) for additional testing and sample material has been sent to a leading electric vehicle (ev)  manufacturer for evaluation.  in august 2023, sunrise and  graphite one conducted multiple rounds of communication about the draft consulting agreement and supply agreement, in which  graphite one wishes to engage sunrise to provide consulting services relating to the development of the g1 facility due to that sunrise's principals and technical personnel have knowledge, skill, know-how and expertise in r&d and manufacturing process such that the finished products may be sold as active anode materials into the supply chain for lithium-ion batteries. the two parties have reached a preliminary consensus on these cooperation agreements and are revising on the details. it is expected that these documents will be signed within next month.
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