Tantech Exports Midibus to Dominica

LISHUI,China,May 16,2023 -- Tantech Holdings Ltd (NASDAQ:TANH) ("Tantech" or the "Company") today announced that its subsidiary,Shangchi Automobile Co.,Ltd.,has recently signed a new contract to export electric midibus to Dominica.

Measuring 6 meters long and close to 2 meters wide,the midibus has 17 air-conditioned PVC seats and a wide-body design that provides ample space,allowing passengers to have a comfortable and enjoyable ride. In addition,this midibus is quieter than its internal combustion engine counterpart,an attribute that provides a more peaceful and restful ambience,making it easier for conversations and relaxation during the journey. In the meantime,this electric vehicle produces zero emissions while driving,contributing to a cleaner and healthier environment.

This order is one of many of the Company's export orders within recent months,reflecting Tantech's reputation in overseas markets,and also shows consumers' trust in the Company's products. Expanding into overseas markets such as Dominica not only drives the Company's growth but also contributes to its global transition towards sustainable transportation,aligning with the Company's vision of creating a cleaner and greener future.

Mr. Wangfeng Yan,CEO of Tantech,commented,"This order represents a milestone for our company as we continue to lead the way in the rapidly growing electric vehicle market. It demonstrates the trust and confidence that our partners have placed in our products,technology,and expertise. It opens up more opportunities for our company,let us continue to push the boundaries of innovation,while ensuring our electric vehicles exceed customer expectations and continue to set new industry standards. Together,we will deliver excellence,establish lasting partnerships,and make a positive impact on the world."

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.,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.