Erayak Power Solution Group Inc. In Discussions with Potential Strategic Partners to Expand Market Opportunities and Product Offerings

By: Erayak Power Solution Group Inc. via GlobeNewswire

September 28, 2023 at 11:06 AM EDT

Wenzhou, China, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Erayak Power Solution Group Inc. ("Erayak" or the "Company") (Nasdaq: RAYA), a leading manufacturer, designer, and exporter of high-quality products in the power supply industry, is pleased to announce that the Company is discussing with potential strategic partners to expand its market opportunities and product reach.

One of the potential partners is a diversified energy company that produces and markets fuels, natural gases, and electricity. The company has been established in China for nearly 40 years and is actively involved in the entire Chinese energy industry supply chain, from both upstream to downstream operations. Erayak is looking to share experience, technology, and industry expertise to create mutually beneficial partnerships to develop domestic and international energy solution businesses. Recently, a representative from the aforementioned company visited Erayak to gather a comprehensive understanding about the application and performance of Erayak's product lines, including inverter generator series, inverter series, household energy solutions, and storage systems.

Erayak is also discussing with another potential partner, a large trading company, which serves as an authorized agency and franchisee in the UK for large brands such as Stanley Black and Decker, and IMPAX Tooling Solutions, that produce electric power tools. The company is well known and recognized within the industry for its strong sales and large product shipment abilities. This potential collaboration would allow both companies to produce more electrically powered clean energy products.

Erayak’s Chairman & CEO, Mr. Lingyi Kong, commented, "I am incredibly optimistic with the discussions that we are currently having with potential strategic partners that will enhance our product offerings and enable us to reach a broader customer base in various countries across the globe. Additionally, these conversations regarding our potential partnerships provide Erayak with the opportunity to substantially build our brand’s image as one of the world’s leading producers of electrical power products that are clean and environmentally friendly to help us meet our sustainability goals.”

About Erayak Power Solution Group Inc.

Erayak specializes in the manufacturing, research and development, as well as the wholesale and retail sales of power solution products. Erayak's product portfolio includes sine wave and off-grid inverters, inverter and gasoline generators, battery and smart chargers, and custom-designed products. Our products are used principally in agricultural and industrial vehicles, recreational vehicles, electrical appliances, and outdoor living products. Our goal is to be the premier power solutions brand for all of your mobile and outdoor living needs. For more information, visit: https://erayakpower.com/

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

Investor Relations Contact:

Skyline Corporate Communications Group, LLC
Lisa Gray, Senior Account Manager
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: lisa@skylineccg.com

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Erayak Power Solution Group Inc. In Discussions with Potential Strategic Partners to Expand Market Opportunities and Product Offerings

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