E-Power Inc. (NASDAQ: EPOW) said its Shandong Sunrise Technology subsidiary has collected approximately $9.2 million in payment for completing the first phase of a turnkey contract with Shandong Fusion New Material Co., Ltd.
The payment of RMB 61,825,140 accounts for roughly 18% of the total contract value of RMB 343,473,000 (approximately $51.2 million), according to the company. The contract was awarded in June 2026 and publicly announced on August 27, 2026.
The completed phase involved equipment process design and technical consulting services for two production lines at the customer's facility in the Laiwu District of Jinan, Shandong Province, China.
The contract covers a fully automated artificial graphite anode line, valued at RMB 37,474,515 (approximately $5.6 million), with a designed annual capacity of 20,000 tons, and a silicon-carbon anode production line, valued at RMB 24,350,625 (approximately $3.6 million), with a designed annual capacity of 1,000 tons per year.
Remaining obligations under the contract include equipment manufacture and delivery, on-site installation and commissioning, operator training, testing, spare parts supply, technical documentation, and a 12-month warranty period.
E-Power Inc. provides battery materials and manufactures and sells graphite anode material for lithium-ion batteries. The company operates a plant in Guizhou Province, China, and functions through subsidiaries, a joint venture, and a variable interest entity structure.
Haiping Hu, founder, CEO and chairman of E-Power, said the completion of this contract phase and collection of the full payment is a milestone the company said it would report.
