Sunrise New Energy (EPOW.US) has signed a $29 million supply contract for 10,000 tons of artificial graphite anode materials. Driven by this positive development, Sunrise New Energy's stock price surged over 12% during Friday's pre-market trading session. Propelled by a series of favorable catalysts, Sunrise New Energy's share price has climbed more than 60% since September 23rd.

Earlier this week on Tuesday, Sunrise New Energy announced that its subsidiary received approval for a special funding grant of $137,000 from the Guizhou Provincial Department of Science and Technology. The funding will be used to establish the "Guizhou New Energy Battery Materials Technology Innovation Leading Talent Workstation." The workstation will be co-built in collaboration with Professor Xu Bin, a National Yangtze River Scholar, and will focus on research and development of next-generation power battery anode technologies, including fast-charging graphite, silicon-carbon composite materials, and hard carbon materials.