E-Power Inc. (NASDAQ:EPOW) shares jumped 37.72% to $0.62 in pre-market trading on Friday.
Shares of the Chinese manufacturer and seller of graphite anode material closed on Thursday at $0.45, up 4.43%, according to Benzinga Pro data.
Contract Win Fuels Investor Optimism
The rally follows E-Power’s announcement on Thursday that its subsidiary, Shandong Sunrise Technology Co., Ltd., secured a turnkey equipment and technology services contract worth roughly RMB 343.5 million ($51.1 million) with China-based manufacturer of special electronic and metal materials Shandong Fusion New Material Co., Ltd.
The deal is E-Power’s largest technology and equipment award to date. It covers two production lines in Laiwu District, Jinan, Shandong Province. One is an artificial graphite anode line with an annual capacity of 20,000 tons, while the other is a silicon-carbon anode line with an annual capacity of 1,000 tons.
