Azusa, California Authorizes Negotiations Toward Exclusive Negotiating Agreement with E-Power for Proposed US$26 Million Heavy-Duty Mega Charging Station

DOVER, USA, Sept. 09, 2026 (GLOBE NEWSWIRE) -- E-Power Inc. (“E-Power,” the “Company,” “we” or “our”) (NASDAQ: EPOW), a provider of advanced battery materials and AI Data Center (AIDC) microgrid solutions, today announced that it has received written notice from the City of Azusa, California (the “City”) that the Azusa City Council (the “City Council”) has authorized City staff to move forward with negotiations toward an Exclusive Negotiating Agreement (“ENA”) with the Company for the potential development of the proposed Azusa Mega Charging Station — a public-access charging and energy storage facility for medium- and heavy-duty zero-emission commercial vehicles (the “Project”).

Project Highlights

• Proposed Investment: Up to US$26 million to be committed by E-Power toward the development, construction, ownership and long-term operation of the facility, subject to due diligence and the negotiation and execution of definitive agreements.
• Charging Capacity: Approximately 11.52 MW of total charger capacity, served by a dedicated 6 MW, 12 kV utility interconnection from Azusa Light & Water.
• Energy Storage: An approximately 20 MWh lithium iron phosphate (LFP) battery energy storage system, configured as four 5 MWh blocks with a bi-directional power conversion system supporting peak shaving, load management and grid resiliency.
• Vehicles to be Served: Class 4–8 medium- and heavy-duty zero-emission commercial vehicles.
• Location: West Foothill Boulevard, Azusa, California, adjacent to the I-210 and I-605 freight corridor.
• Negotiating Period: The proposed ENA would provide a 180-day period for due diligence and negotiation of key business terms.
• Target Commercial Operations: 2028.

The City’s notice, dated June 24, 2026 and signed by City Manager, Sergio Gonzalez, followed the City’s review of a non-binding Letter of Interest submitted by E-Power in June 2026. As described in the notice, the proposed ENA is expected to cover Project roles and responsibilities, site development requirements, utility service considerations, economic terms, and the framework for a potential long-term development agreement. Dates for a Project kickoff meeting have yet to be determined.

The Project, as developed by Fenyx EPC, Inc., is designed to include an integrated energy management system and SCADA (Supervisory Control and Data Acquisition) layer coordinating chargers, storage dispatch and the utility interface. The Company’s Letter of Interest contemplates that the Project assets would be held through a special purpose vehicle to be formed with Fenyx EPC, Inc. and other strategic partners. Any investment would also be subject to the negotiation of commercially acceptable utility service and electricity pricing terms with Azusa Light & Water and the receipt of required corporate, regulatory and governmental approvals.

Extending the Company’s Energy Infrastructure Platform

The Project, as proposed, would apply the same core capabilities E-Power is building for its microgrid business — high-power distribution, battery energy storage integration and intelligent energy management — to a second category of large, concentrated electrical load. Data centers and heavy-duty vehicle charging facilities present the same underlying engineering problem: delivering megawatt-scale power reliably at sites where grid capacity is constrained, using on-site storage and control software to manage peak demand. The Company expects the Project to address both markets from a common technology base.

The Azusa site sits on one of Southern California’s principal freight corridors, in a market where the California Air Resources Board’s zero-emission fleet regulations are expected to drive demand for public heavy-duty charging capacity. The Company has identified additional freight corridors in Southern California for preliminary evaluation should the Project advance, and views the site as a potential first node of a replicable charging-plus-storage platform.

“We believe that the a City Council’s authorization for  exclusive negotiations is a meaningful step, and appreciate the opportunity to move forward with the City,” said Mr. Haiping Hu, the founder, CEO and Chairman of E-Power Inc. “Heavy-duty charging sits at the intersection of the two capabilities we have been building — energy storage and microgrid control — and the completed Project is anticipated to extend our energy infrastructure platform into a market with a regulatory driver. We intend to use the negotiating period to establish terms that work for the City, for Azusa Light & Water, and for our shareholders, and we will report further as the process advances.”

No Assurance

The City Council’s authorization does not constitute the execution of an Exclusive Negotiating Agreement, a development agreement, a ground lease, or any binding commitment by either party. The Company’s Letter of Interest is non-binding, and the investment amount described above represents only a potential commitment currently under evaluation by the Company rather than a committed or contracted amount. There can be no assurance that an ENA or any definitive agreement will be entered into, that the proposed Project will proceed, or that the Company will make any investment in the Project.

About E-Power Inc.

E-Power Inc., through its subsidiaries, joint venture and variable interest entity structure, is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries. Through its joint venture, the Company operates a plant in Guizhou Province, China, powered by electricity from renewable sources, which contributes to the plant’s competitive production costs and reduced environmental impact in the production of graphite anode material. Mr. Haiping Hu, the founder, CEO and Chairman of the Company, has been a pioneer in the graphite anode industry since 1999. The Company’s management team is composed of experts with years of experience and successful track records in the graphite anode industry. For further information, please visit the Company’s website at www.sunrisenewenergy.com.

Forward-looking statement

Certain statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, goals, objectives, strategies, future events, expected results, assumptions, the negotiation and execution of an ENA or other definitive agreements, the potential investment in and development of the proposed Project, the target timing for commercial operations, the expansion of our energy infrastructure platform into new markets, and any statements that are not historical facts. Words such as “may,” “will,” “plan,” “anticipate,” “should,” “believe,” “expect,” “estimate,” and similar words, shall be regarded as forward-looking statements. Due to various factors, the actual results may differ materially from the historical results or from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, technological updates, economic trends, the Company’s reputation and brand, the impact of industry competition, relevant policies and regulations, China’s macroeconomic conditions, international market conditions, and other related risks and assumptions. In view of the above and other related reasons, we advise investors not to place undue reliance on these forward-looking statements, and we urge investors to visit the website of the United States Securities and Exchange Commission to review the Company’s filings for other factors that may affect the Company’s future operating results. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

For more information, please contact:

The Company: IR Department
Email: IR@sunrisenewenergy.com
Phone: +1 4084890472