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.
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
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SOURCE Tantech Holdings Ltd.