LISHUI, China, Oct. 3, 2016 /PRNewswire/ -- Tantech
Holdings Ltd. (Nasdaq: TANH) ("Tantech" or the "Company"), a
leading manufacturer of bamboo-based charcoal products, announced
today that it participated in the 2016 Chinese New Energy Vehicles
Power Battery Industrial Technology Development Summit Forum (the
"Forum") held in Suzhou City, Jiangsu
Province on September 23,
2016. On the Forum, there were six brand new electric buses
traveling through various venues being used as conference reception
vehicles. Those electric buses gained unanimous favorable comments
from all representatives, because the buses delivered
environmentally friendly zero emission and provided a comfortable
ride as well.
The newly developed electric bus is none other than the flagship
product of Suzhou E Motors Co., Ltd. ("Suzhou E Motors"), a
specialty electric vehicles and power batteries manufacturer based
in Zhangjiagang City, Jiangsu
Province, and whose 100% acquisition by Tantech will soon be
completed. The bus is particularly suitable for tourist transport,
corporate commute uses and airport VIP receptions, and it has just
been included in the "Auto Bulletin Directory" of Ministry of
Industry and Information Technology of China.
In early September, a high-speed brushless sweeper, "Tornado,"
developed by Suzhou E Motors was used to serve the outside area of
Hangzhou International Expo Center, which is the main venue of the
G20 Summit, and the sweeper successfully captured public
attention.
In terms of future development, as the national policy on new
energy vehicles becomes increasingly clear, Tantech is also
accelerating the pace of its transformation and upgrading. In
May 2016, Tantech has entered into a
definite purchase agreement to acquire Suzhou E Motors. This
acquisition undoubtedly provides a new impetus as well as a new
platform for the Company to develop in a more rapid pace.
At present, Suzhou E Motors has gradually developed and produced
16 different models of vehicles and obtained more than 10 patents,
and half of which are related to new energy vehicles. Especially in
this year, electric cars and electric vans have been successively
included in the "Auto Bulletin Directory" of Ministry of Industry
and Information Technology of China. And the two major conferences mentioned
above, the G20 Summit and the Forum, also provided great
opportunities for the company to fully display its products.
In addition, as a listed company in NASDAQ, Tantech participated
in three non-deal road shows targeting retail Chinese-American
investors in New York,
Los Angeles and Vancouver. The road shows were held by
Chineseinvestors.com, Inc., and the trading volume of TANH
increased sharply.
Mr. Jing Jin, Chief Financial
Officer of Tantech commented, "We are in the process of our
business transformation. Recent volatile stock movements do not
reflect our current business situation, and our confidence in
business remains high and our factory is operating as busy as
usual. In the future, Tantech will continue to focus on business
strategies and operations, which will ultimately provide fine value
for the Company and our investors."
About Tantech Holdings Ltd.
Established in 2001 and headquartered in Lishui
City, Zhejiang Province, China, Tantech Holdings Ltd.
("Tantech" or the "Company"), together with its subsidiaries,
develops and manufactures bamboo-based charcoal products, including
a variety of branded consumer products and electric double-layer
capacitor ("EDLC") carbon products for industrial energy
applications. The Company is in the process of acquiring 100%
interest in Suzhou E Motors Co., Ltd., a specialty electric
vehicles and power batteries manufacturer based in Zhangjiagang
City, Jiangsu Province, and aims to transform itself from a
bamboo-based charcoal products producer to a vertically integrated
company along the EDLC Carbon –power battery – specialty new energy
vehicle value chain. For more information about Tantech, please
visit: http://www.tantech.cn/en/index.asp.
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 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.
For more information, please contact:
Tantech Holdings Ltd.
Ms. Ye Ren
IR Manager
+86-578-261-2869
ir@tantech.cn
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SOURCE Tantech Holdings Ltd.