Tantech Holdings Ltd (NASDAQ: TANH) was up 18% to $2.36 in the after-market hours Friday. If we look further back, it has seen its stock price rise 16.28% in one week and 50.38% in the past month. A year-to-date run rate of 44.93% and a year-over-year run rate of 36.05%.
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TANH Corporate profile
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Based in Lishui City, Zhejiang Province, China since 2001, Tantech is a Japanese developer and manufacturer of bamboo-based charcoal and a significant player in the design, manufacture, and distribution of electric vehicles. Furthermore, the company has also ventured into the mining business in 2018 and 2019.
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What happened recently…
On the first day of this month, Tantech Holdings Ltd (NASDAQ: TANH) confirmed its unit Zhejiang Tantech Bamboo Charcoal Co., Ltd. in the development of ISO 21626, an international standard for bamboo charcoal, Part 1, Part 2, and Part 3. Part 1 and Part 2 were published officially.
The International Organization for Standardization (ISO) is a global body responsible for national standards. ISO scientific commissions generally establish International Standards. ISO/TC 296, Bamboo and Rattan Technical Committee, released ISO 21626-1:2020 for Bamboo charcoal, Part 1: Generalities, and ISO 21626-2:2020 for Bamboo charcoal, Fuel Applications, Part 2.
Official Commentary
Chief Executive Officer of Tantech, Mr. Wangfeng Yan, said in a statement that We take great pride in the fact that we helped set the benchmarks for bamboo charcoal, which showcases our industry leadership. By providing consumers with a “seal of quality,” they will have greater confidence in purchasing sustainable products. Bamboo charcoal has consistently gained widespread adoption across environmental and green sectors, household goods, health and beauty products, and so forth. We are excited to standardize this next step in the evolution of this long-term growth market opportunity.
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Conclusion:
Recent developments have left Tantech Holdings’ (NASDAQ: TANH) investors optimistic as the stock has been climbing, and it appears the covid-19 woes are finally ending, and this trend will follow in its wake.
