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Sunrise New Energy (NASDAQ:EPOW) stock is up on Monday after the lithium-ion battery maker was granted new patent funding.
This was granted to its subsidiary, Sunrise (Guizhou) New Energy. The patent funding comes from the 2024 Guizhou Provincial Key Projects for Promoting the Utilization of Intellectual Property.
According to Sunrise New Energy, this covers its Patent No. ZL202210400775.2, which is titled “Preparation Method of Lithium-Ion Battery Anode Material.” It says this patent improves the initial efficiency and power performance of the graphite composite materials used in lithium-ion batteries.
Sunrise New Energy said the following about the patented product:
“Due to its stable performance, the patented product holds a significant competitive advantage in the market and has received unanimous praise for its quality. Since the sales of the patented product began in 2022, despite the short period, the product has rapidly gained market traction. To date, the cumulative sales revenue has reached approximately $100 million.”
EPOW Stock Movement on Monday
With all of this news comes heavy trading of Sunrise New Energy this morning. As of this writing, more than 4 million shares have changed hands, well above the company’s daily average trading volume of about 35,000 shares.
EPOW stock is up 33.6% as of Monday morning.
Investors will want to keep reading for more of the most recent stock market stories!
We have all of the hottest stock market news ready to go on Monday! Among that is what has shares of Agrify (NASDAQ:AGFY) stock up, the biggest pre-market stock movers and more. All of this info is good to go at the links below!
More Stock Market News for Monday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
