Tantech's Shangchi Automobile Wins First Singapore Order

LISHUI,China,Oct. 5,2020 -- Tantech Holdings Ltd (NASDAQ: TANH) ("Tantech" or the "Company"),a clean energy company in China,today announced its subsidiary,Shangchi Automobile Co.,Ltd. ("Shangchi Automobile"),won a major,multi-vehicle order from China De Ruixiang Industrial Co. Ltd. ("China De Ruixiang"),marking the first availability in Singapore. Delivery of the midibuses has occurred.

The sleek,diesel midibuses ordered by China De Ruixiang have an overall length of 7 meters,two doors and have seats for 23 passengers,with a total capacity of 50. Featuring a manual 5 speed transmission and all the luxuries of a high-end bus,the midibus boasts an efficient,luxury travel experience with comfortable seating,USB charging ports,powerful air conditioning and a state-of-the-art air purification system.

Mr. Wangfeng Yan,Chief Executive Officer of Tantech,said,"We are very excited about this win as it underscores the attractiveness of our vehicles internationally,where midibuses are increasingly being used for shorter distance transportation. This is one of our largest vehicle orders to date both in terms of vehicles ordered and the total order value. This is also the first time we are cooperating with China De Ruixiang,which further validates the growth potential we are actively working to capitalize on as we expand our production level. Equally important,this is the first time our vehicles will be available in Singapore,which demonstrates the progress we are making on our business execution and successful development of key new international markets,as we translate our efforts into sales."

Shangchi Automobile focuses on developing and manufacturing high-efficiency,electric vehicles and fuel powered buses. The Company has adjusted to China's new energy vehicle subsidy policy and COVID-19,and is actively leveraging its R&D expertise to develop new midibuses and energy efficient specialty-use electric vehicles,including logistics vehicles,street sweepers and ambulances.

About Tantech Holdings Ltd.

Established in 2001 and headquartered in Lishui City,Zhejiang Province,Tantech,together with its subsidiaries,is now,in addition to be a developer and manufacturer of bamboo-based charcoal,an innovative leader in the design,manufacture and distribution of electric vehicles. The Company has also invested in mining business in 2018 and 2019.

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 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.

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