E-Power receives $9.2M payment for first phase of anode contract

E-Power Inc. (NASDAQ: EPOW) announced that its subsidiary, Shandong Sunrise Technology Co., Ltd., has completed the first phase of a RMB 343.5 million (approximately $51.2 million) turnkey anode contract and received full payment of RMB 61.8 million (approximately $9.2 million).

The completed phase covered equipment process design and technical consulting services for two production lines at a customer facility in the Laiwu District of Jinan, Shandong Province, China. The customer is Shandong Fusion New Material Co., Ltd. The contract was awarded in June 2026 and publicly announced on August 27, 2026.

The completed work included design services for an artificial graphite anode production line with a capacity of 20,000 tons per year, valued at RMB 37.5 million (approximately $5.6 million), and a silicon-carbon anode production line with a capacity of 1,000 tons per year, valued at RMB 24.4 million (approximately $3.6 million). Together, these services represent approximately 18% of the total contract value.

Remaining obligations under the contract include equipment manufacture and phased delivery, on-site installation and commissioning, operator training, testing, spare parts, technical documentation, and a 12-month warranty period, concluding with trial production and final acceptance.

"The completion of this Contract phase and collection of the full payment is the kind of milestone we said we would report," said Haiping Hu, founder, CEO and Chairman of E-Power Inc.

E-Power, based in Dover, operates through subsidiaries and a joint venture focused on graphite anode material manufacturing for lithium-ion batteries. The company also provides AI data center microgrid solutions.

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