- Sunrise New Energy Co Ltd (NASDAQ: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.
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Cowen & Co. Upgrades Shoals Technologies Gr to Outperform, Raises Price Target to $37.5
Cowen & Co. analyst Jeffrey Osborne upgrades Shoals Technologies Gr (NASDAQ:SHLS) from Market Perform to Outperform and raises the price target from $29 to $37.5.
