Tantech Secures Major Contract to Supply 50 Midibuses to Malaysia

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Aug 28, 2023, 08:30 ET

LISHUI, China, Aug. 28, 2023 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company") announced that its subsidiary, Shangchi Automobile Co., Ltd., has signed a sales contract to provide midibuses to Malaysia. This is the Company's largest order from Malaysia and marks a significant stride toward enhancing public transit options and addressing the growing transportation needs in the region.

This order includes 50 midibuses; each midibus measures 6 meters long and features 18 seats, with steering wheel on the right and equipped with MP5 system. In compliance with Euro 3 emission standards, the midibuses are powered by DK5 diesel engine. These midibuses are known for their versatility, efficiency, and environmentally friendly features. They are designed to accommodate both urban and suburban routes, catering to the diverse needs of Malaysia's residents and visitors. With a focus on passenger comfort and safety, the midibuses feature ergonomic seating, state-of-the-art entertainment options, and enhanced accessibility features, and playing an important role in advancing Malaysia's public transportation infrastructure by ensuring a comfortable, reliable, and inclusive commuting experience for all passengers.

"This contract marks a significant leap forward in our journey of growth and expansion. It underlines our dedication to delivering great products and services to the international markets, as well as our ability to foster strong relationships with partners across borders. " Mr. Wangfeng Yan, CEO of Tantech, commented. "The contract reflects our partners' trust in the Company's reputation for quality, innovation, and reliability. Our team's tireless efforts and unwavering commitment to exceeding customer expectations have undoubtedly contributed to the realization of this substantial achievement."

Mr. Yan continued "This success reinforces our mission to continue striving for excellence in every aspect of our operations. Our dedicated team remains committed to ensuring the seamless execution of this contract and maintaining the high standards that are synonymous with our brand."

About Tantech Holdings Ltd

For the last two decades, Tantech has been a leading high-tech enterprise pioneering and specializing in the manufacture, research and development of 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% share 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 laws.

SOURCE Tantech Holdings Ltd.