LISHUI, China, Aug. 14, 2023 /PRNewswire/ -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company") announced that its subsidiary, Shangchi Automobile Co., Ltd., has recently signed a sales contract to export 20 school buses to Ecuador; this is the 4th order of school buses from Ecuador.
This order includes 20 wide-body buses measuring 6 meters long featuring 18 fabric seats. The passenger area is covered by dark gray windows for better privacy. In most countries, school buses are subject to stringent safety standards. Tantech's product quality and technology standards will ensure the exported buses meet or exceed Ecuadorian safety regulations. The incoming orders also represent a significant business opportunity for the Company to expand market presence and generate revenue. Entering a market such as Ecuador can drive further growth in revenue and promote long-term partnerships.
Mr. Wangfeng Yan, CEO of Tantech, said: "Ecuador holds tremendous potential for growth, and we are honored to contribute to its educational infrastructure by providing safe, reliable, and efficient transportation solutions for students. Our school buses are not just vehicles, they are a means to a brighter future for Ecuador's young minds, and we are proud to play a role in their journey towards knowledge and success."
Mr. Yan continued, "This continuous sale is also a testament to the hard work, dedication, and relentless pursuit of excellence by our company. As we venture into new territories and markets, this milestone serves as a remarkable example of our commitment to innovation, quality, and international collaboration. The sale of these school buses is not just a transaction, but a representation of the trust that our clients have placed in our products and services. It showcases our ability to deliver solutions that meet the unique needs of different regions and cultures."
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.
