Tantech Subsidiary Starts Accepting Orders for Innovative Driverless and Manned Street Sweepers; Inventory Built to Fulfill Initial Customer Orders

LISHUI, China, July 15, 2021 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"), a clean energy company in China, today announced that its subsidiary, Lishui Smart New Energy Automobile Co., Ltd., started accepting customer orders on July 15, 2021 for two of its new, highly innovative driverless and autonomous street sweeper models and has built inventory to meet initial customer orders.  The Shangchi SC-120A model features unmanned, automatic sweeping, and the Shangchi SC-120B model features manned, autonomous, intelligent sweeping.  Both models have successfully passed all design requirements, standard factory quality control reviews and final factory testing. 

The SC-120A (unmanned) and SC-120B (manned and unmanned) models are attractive, feature rich sweepers that integrate information collection technology, data analysis systems, artificial intelligence controls, positioning and navigation systems, automatic actuators, and safety assurance technology.  The innovative street sweepers boast highly intelligent route learning and memory, and real-time deep learning.  The SC-120A's lidar-based, machine vision technology will enable the driverless model to safely and accurately operate in common environments.  Both sweeper models have two primary operating modes, cleaning and litter-collecting, and can be used for 10 hours at a time or until full. The sweepers come with 1 year warranty.

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "We are very proud to bring our highly innovative SC120A and SC120B models successfully to market. We designed these sweepers with close attention to performance, safety and experience.  We are giving customers superior sweepers with a greater return on investment than traditional, less efficient street sweepers.  The innovations, design and high-quality production ensures maximum up time and reduced maintenance costs.  These are key differentiators for us and important selling points to customers, who will be able to operate our sweepers in both tight spaces, like bike paths, and open spaces, like parking lots."

Mr. Wangfeng Yan continued, "Customers worldwide have had limited options and been forced to keep older, inefficient sweepers in operation longer.  Taken together we expect our new models will help us take market share, as we continue to build momentum in our business transformation and diversification."

About Tantech Holdings Ltd

For the past decade, Tantech has been a highly specialized high-tech enterprise producing, researching and developing bamboo charcoal-based products with an established domestic and international sales and distribution network. Since 2017 when the Company acquired 70% of Shangchi Automobile, a vehicle manufacturer based in Zhangjiagang City, Jiangsu Province, it has manufactured and sold vehicles.  The Company established two new subsidiaries, Lishui Smart New Energy Automobile Co., Ltd. and Zhejiang Shangchi New Energy Automobile Co., Ltd., in November 2020, with the plan to produce and sell street sweepers and other electric vehicles.  The Company is fully ISO 90000 and ISO 14000 certified and has received a number of national, provincial and local honors, awards and certifications for its quality 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 closing of the Private Placement, 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.

SOURCE Tantech Holdings Ltd.