Tantech Holdings - TANH STOCK NEWS

Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Zhejiang Tantech Bamboo Charcoal Co., participated in the creation of ISO 21626, an international standard for bamboo charcoal. Parts 1 and 2 have been published, enhancing product quality standards in the bamboo charcoal industry. The CEO stated that this development underscores the company's leadership and instills consumer confidence in sustainable products. The market for bamboo charcoal continues to grow, with applications in various sectors, indicating a strong growth opportunity.

Tantech Holdings Ltd (NASDAQ: TANH) has launched an innovative product, Variety Combination Honeycomb Activated Carbon, aimed at large area purification. This environmentally friendly activated carbon can significantly reduce odors and pollutants, including formaldehyde and benzene, and meets national emission standards. The company anticipates initial customer orders will total approximately $2 million shortly. CEO Wangfeng Yan emphasized the growing demand for environmental purification solutions as economies recommence full production, indicating the company's ongoing expansion into emerging markets and commitment to shareholder value.

Tantech Holdings Ltd (NASDAQ: TANH), a clean energy company, has launched its latest driverless street sweeper, the Shangchi SC-100A, developed by its subsidiary, Shangchi Automobile. This new model features Lidar-based technology for improved cleaning and obstacle avoidance, reducing the need for human operators. The company is optimistic about market demand for autonomous cleaning solutions, especially in the COVID-19 context emphasizing cleanliness. The SC-100A has been validated through real-world testing, and customer feedback has been positive. The vehicle is backed by a one-year warranty.

Tantech Holdings Ltd (NASDAQ: TANH) announced the closing of an offering with institutional investors, raising approximately $10 million through the sale of 6,060,608 common shares at $1.65 per share. The offering included registered warrants to purchase 2,754,820 common shares and unregistered warrants for 3,305,788 more shares, both immediately exercisable. The funds will be used for working capital and general business purposes. The transaction was facilitated by Univest Securities, LLC, which received warrants for 363,637 shares.

Tantech Holdings Ltd (NASDAQ: TANH) announced a securities purchase agreement with institutional investors for approximately $10 million of common shares and warrants in a registered direct offering. The company will sell 6,060,608 shares at $1.65 per share, along with registered and unregistered warrants. The proceeds will be allocated for working capital and general business purposes. The offering is set to close on or about November 24, 2020, subject to customary closing conditions.

Tantech Holdings Ltd (NASDAQ: TANH) announced the launch of two innovative driverless street sweepers by its subsidiary, Shangchi Automobile Co., Ltd. The SC-120A model operates unmanned, while the SC-120B features autonomous operation with human oversight. Designed for quieter operations, the sweepers utilize Lidar-based technology for effective cleaning, operating for up to 10 hours. Initial sales will focus on the domestic market, with plans for international expansion. These vehicles align with China's new energy vehicle policies and aim to reduce operational costs and enhance performance.

Tantech Holdings Ltd (NASDAQ: TANH) announced a significant order valued at RMB 22,417,500 (approximately $3.34 million) from an existing customer through its subsidiary, Zhejiang Tantech Bamboo Technology Co., Ltd. The shipment will commence this month and is expected to be completed within five months. The customized products include activated carbon for water purification and bamboo charcoal items, primarily targeted for the Taiwan market. CEO Wangfeng Yan emphasized the order as a milestone in promoting healthier products and contributing to environmental sustainability.

Tantech Holdings Ltd (NASDAQ: TANH) announced a significant milestone as its subsidiary, Shangchi Automobile Co., Ltd., secured a substantial multi-vehicle order from China De Ruixiang Industrial Co. Ltd. The order includes sleek diesel midibuses designed for shorter distance transportation, marking the first entry of Tantech's vehicles into Singapore. This order is one of the largest in the company's history, highlighting its international appeal and growth potential. Tantech is focused on developing electric vehicles and adapting to new energy policies, underscoring its commitment to innovation and market expansion.

Tantech Holdings Ltd. (NASDAQ: TANH) reported a 9.3% increase in revenues for the six months ending June 30, 2020, totaling $22.9 million, driven by a surge in its trading segment due to bamboo charcoal products. However, the consumer product segment saw a 21.9% decline, affected by COVID-19 disruptions. Gross profit fell 16.5% to $3.1 million, and gross margin decreased to 13.4%. Net income rose 125.3% to $1.0 million, with earnings per share doubling to $0.04. The company emphasizes ongoing recovery in sales and strong demand in the consumer segment post-COVID.