Tantech Holdings Ltd (TANH)

[RUPHERT]

NEWS:

LISHUI, China, March 12, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company in China, today announced its subsidiary, Shangchi Automobile Co., Ltd. ("Shangchi"), fulfilled an OEM order to assemble two prototype midibuses. The vehicles were shipped on March 8, 2021 with Middle East as the final destination.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "We are very excited about this latest order. It continues the growth of our vehicle business, as we diversify into what we expect will be a long-term driver of our revenue and profit growth. We are optimistic given our successful execution and extensive opportunities worldwide."

Pursuant to the order, the customer shipped two bodies-in-white to Shangchi. Shangchi then assembled the prototype midibuses according to the customer's customized specifics, such as installing floors, windows, doors and electronic systems and painting the midibuses. The Company expects this order will lead to follow-on orders upon satisfactory customer review