Battery components maker Sunrise New Energy Co (NASDAQ: EPOW) continued to tick higher in pre-market trading on Thursday after it announced that it had applied for two more patents for its hard carbon composite materials.
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These two patents are titled ‘A Preparation Method for Metal Sulfide Doped Hard Carbon Composite Materials’ and ‘A Hard Carbon Composite Material Doped With Antimony Alloy and Its Preparation Method.’ The company has been granted 25 patents so far.
Another reason for the price surge in EPOW on Wednesday was that the company stated that it had “received request from Tesla’s (TSLA) Battery Raw Materials team to provide tech details, manufacture plans and available capacity for Tesla about hard carbon products.”
Sunrise Power manufactures and sells graphite anode material for lithium-ion batteries through its joint venture in China. Tesla uses lithium-ion batteries for its electric vehicles.
Even with the uptick in EPOW stock today, shares have declined by more than 25% year-to-date.