Sunrise New Energy Co., Ltd. announced that it has received a purchase order from a top 5 global EV battery manufacturer for 80,000 metric tons of graphite anode. The purchase order is for 80,000 tons of graphite anode over 2 years. The approximate value of the purchase order based on current pricing is $464 million.

The Company anticipates that it will begin recognizing significant revenue related to this purchase order in February of 2023 as additional production capacity comes online. As part of the validation process, the customer received shipment of an initial order and was very satisfied with the quality of the graphite anode. The customer also has had a senior scientist on site for the last several weeks at Sunrise New Energy's manufacturing plant in Guizhou Province.

The scientist has investigated the manufacturing methods and quality control as well as tested the finished product of the plant on an ongoing basis and has given the company top marks on his assessment.