Tantech Subsidiary to Accept Customer Orders in July for its Innovative Driverless and Autonomous Street Sweeper

Rhea-AI Summary

Tantech Holdings Ltd (NASDAQ: TANH) announced that its subsidiary, Lishui Smart New Energy Automobile Co., Ltd., will begin accepting orders for its SC-120A driverless street sweeper from July. The model has met all design and quality standards. CEO Wangfeng Yan highlighted the expected high demand due to the product's impressive features, including improved energy efficiency and reduced operational costs. The SC-120A incorporates advanced technologies such as AI and Lidar, allowing for automatic operation and enhanced cleaning performance. The company aims to innovate the sanitization market with this product.

Positive

• Successful completion of design and quality control checks for the SC-120A model.
• Positive initial customer response anticipated to translate into orders.
• The SC-120A offers higher energy efficiency and lower operational costs compared to older sweeper models.

Negative

• None.

LISHUI, China, June 24, 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., will start accepting customer orders in July for its innovative driverless and autonomous street sweeper.  The model SC-120A unmanned sweeper has successfully passed all design requirements and standard factory quality control reviews.  The Company will begin accepting customer orders in July after completing the final phase of factory testing. 

Mr. Wangfeng Yan, Chief Executive Officer of Tantech, said, "This represents another big step forward as we work to diversify our revenue base into much higher revenue generating categories.  Initial customer response has been very positive and we expect this to translate into active orders come July.  The sanitization market is long overdue for investment and innovation, with customers using older vehicles with lower performance and higher operating costs.  Our innovative driverless and autonomous street sweeper boasts higher performance, improved energy efficiency and a higher return on investment to the government organizations, cleaning services and businesses that we are targeting.  We believe this will be a win for both customers and Tantech."

The SC-120A model features unmanned, automatic sweeping.  The innovative driverless and autonomous street sweepers was designed for quieter operation and improved cleaning performance, with the ability to reduce or eliminate the 7 to 8 humans required for typical sweeper vehicle operation.  The SC-120A is an attractive, feature rich vehicle that integrates information collection technology, data analysis systems, artificial intelligence controls, positioning and navigation systems, automatic actuators, and safety assurance technology.  The innovative street sweeper boasts highly intelligent route learning and memory, and real-time deep learning, in order to facilitate assisted driving or driverless driving.  Lidar-based, machine vision technology will enable the driverless model to safely and accurately operate in common environments.  The sweeper has two primary operating modes, cleaning and litter-collecting, and can be used for 10 hours at a time or until full. The multi-patented vehicle will come with 1 year warranty.

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 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.

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SOURCE Tantech Holdings Ltd.

FAQ

When will Tantech begin accepting orders for the SC-120A street sweeper?

Tantech will start accepting orders for the SC-120A in July.

What features does the SC-120A driverless street sweeper have?

The SC-120A features automatic sweeping, AI controls, Lidar-based technology, and operates quietly.

What is the expected market response for the SC-120A?

Initial customer response is very positive, suggesting high demand.

What advancements does the SC-120A bring to the sanitization market?

The SC-120A offers improved performance, energy efficiency, and reduced need for human operators.