New York, May 20, 2026, 10:04 EDT
- U.S. stock markets traded Wednesday. Nasdaq says its next market closure in 2026 comes on Memorial Day, May 25.
- E-Power traded under 70 cents in early New York hours after closing lower Tuesday.
- The latest annual filing showed the company expects lower revenue in 2025, a bigger loss, and included a going-concern warning.
E-Power Inc. (Nasdaq) stayed below 70 cents in early Wednesday trading. The China-based battery materials company is still looking for investor support as it pitches a new push into power systems for AI data centers.
E-Power stock traded at $0.6753, up 1.95%, at 9:49 a.m. EDT. On Tuesday, it settled at $0.662, down 1.13%. Shares remain well under $1, a level small-cap traders watch for listing risk and sentiment shifts on Nasdaq.
Cash is front and center. E-Power posted its Form 20-F to the U.S. SEC last week. 2025 revenue dropped to $46.4 million, down from $65.0 million in 2024. Net loss deepened to $26.7 million versus $18.0 million. The auditor flagged recurring losses, negative cash flow from operations, and a working-capital gap, warning of “substantial doubt” the company can stay afloat. E-Power could need more funding to keep going. SEC
E-Power is targeting one of the fastest-growing parts of the power sector: electricity demand for AI data centers. The surge in new data centers has turned things like backup batteries, microgrids, and on-site power from side projects into key obstacles for firms hoping to ramp up computing power quickly.
E-Power said May 6 it signed a deal with ZL Bio LLC to build a three-phase microgrid in Middletown, California. The project starts at 3 megawatts and could go up to 50 megawatts. E-Power put total capital spending near $252 million. Microgrids are local power networks that work either on their own or with the main grid. “This $252 million agreement marks a major breakthrough for E-Power,” Chairman Haiping Hu said in the statement. GlobeNewswire
Battery-materials updates have played a role for the company. Back on May 8, it said its Sunrise Guizhou unit landed a $294,000 provincial budget award for a carbon-based anode materials engineering center. The anode is the negative electrode in batteries and a main part of how lithium-ion and sodium-ion cells work. Hu said the money would push lab research closer to industrial use.
E-Power got a Chinese patent for its phosphorus-silver-silicon co-doped hard carbon composite material for sodium-ion batteries, according to a second May 8 release. Hu said the patent is “a sophisticated answer to the stability and conductivity challenges” in these batteries. GlobeNewswire
Battery storage companies are drawing heavy demand from AI data centers, but getting ahead is tough, Reuters reported Monday. Delays hooking up to the grid and supply chains tied to China are holding back growth. “Supply chain constraints and interconnection queues are two of the most important barriers,” Harvest-Time Obadire, senior power and renewables analyst at BMI, part of Fitch Solutions, told Reuters. Reuters
Big names are already in the mix. Reuters said Fluence is working on over 30 GWh of data-center projects worldwide. Tesla has storage-system revenue from xAI. Calibrant Energy signed a deal for a 31 MW/62 MWh battery system at an Aligned data center.
E-Power faces some key risks, including announcements that get ahead of actual progress. If the California project falls behind, patents fail to bring in sales, or funding dries up, the company could face more dilution, delays in growth or another wave of investor worries about how it will pay the bills.
The next test is about milestones, not just the theme. Investors want to see real funding, real customer payments, progress on construction. AI power exposure alone won’t cut it.
