Tantech Holdings Ltd TANH

LISHUI, China, Nov. 30, 2022 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company") today announced that its subsidiary, Shangchi Automobile Co., Ltd., had received a second order from Nigeria to export 6 additional fully customized midibuses within 60 days.

Tantech has successfully integrated several innovations with solid track records into vehicle design and craftsmanship. Both vehicle power and energy efficiency have been significantly improved, largely by adopting a more robust engine with embedded advanced technologies (e.g., variable valve timing, electronic throttle, hydraulic tappet, roller rocker arm, plastic intake manifold, etc.). Additionally, these midibuses, equipped with 3x100L gas cylinders suitable for dual fuels (including CNG), have become more environmentally friendly and more conducive to emission reduction. Furthermore, these 6-meter long midibuses are safer and easier to operate and maintain, with refined left-hand driving structure, enhanced five-speed manual transmissions, more responsive rear reverse radars and brighter high-mount brake lights. Finally, it is more comfortable to ride on these eleven-seat midibuses of a wide body with UV window glasses and charging USB ports. Passengers can adjust their seats smoothly, enjoy purified fresh air circulated by a more powerful air conditioning system, read under LED lights and watch entertainment programs, all within a noise-controlled atmosphere.

Mr. Wangfeng Yan, CEO of Tantech, said, "We have been striving to execute our growth strategies and reinforce investments to further optimize our midibuses. These continued efforts have helped us in achieving higher customer satisfaction in terms of safety, riding experiences, pollution minimization and cost-cutting for vehicle operations and maintenance. Meanwhile, our midibuses are priced competitively to deliver more tangible values to both bus owners and passengers. With such a consumer-centric strategy focused on R&D, manufacturing and marketing, we are confident on building a reputable brand-name and gaining a greater market share within a sizeable and fasting growing global bus markets. This repeat order from Nigeria has demonstrated that we are now making steady progresses toward enlarging our market shares, and thus ultimately creating long-term returns to our shareholders."

About Tantech Holdings Ltd

For the last two decades, Tantech has been a leading high-tech enterprise pioneering and specializing in producing, researching and developing products based on bamboo charcoals with a well-established domestic and international sales and distribution network. Tantech expanded into the clean vehicle industry in 2017 through acquiring 70% shares of Shangchi Automobile. In November 2020, Tantech established two additional subsidiaries, Lishui Smart New Energy Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile Co., Ltd., to produce and market electric vehicles, including automatic high-speed street sweepers and others. The Company's subsidiary, First International Commercial Factoring (Shenzhen) Co., LTD, is engaged in commercial factoring for businesses in and related to its supply chain. Tantech has recently expanded its operation into international markets. In May and July 2022, the Company established wholly-owned subsidiaries, EPakia Inc. and EPakia Canada Inc., in the United States and Canada to develop biodegradable packaging business in the North American and other international markets. The Company is fully ISO 90000 and ISO 14000 certified and has received numerous national, provincial and local honors, awards and certifications for its products and scientific research efforts. For more information, please visit: http://ir.tantech.cn.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the sales, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as expressly required by applicable law.

For more information, please contact:

Tantech Holdings Ltd
Investor Relations
Tel: +86 (578) 226-2305
ir@tantech.cn

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SOURCE Tantech Holdings Ltd.