Advent Technologies Releases Statement on President Biden’s Infrastructure Proposal
April 19 2021 - 9:00AM
Business Wire
Today, Dr. Vasilis Gregoriou, Chairman and CEO of Advent
Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), released the
following statement commenting on the American Jobs Plan, which was
announced on March 31, 2021 by U.S. President Joe Biden.
“Advent Technologies welcomes President Biden’s American Jobs
Plan, specifically the country clearly articulating its deepened
support for clean energy and stating a goal of 100 percent clean
power by 2035.
We also believe that the proposed $174 billion investment
towards the EV market is an incredible step in the right direction.
The complete electrification of the mobility industry demands that
fuel cells, hydrogen, renewable fuels, and batteries work as
complementary solutions depending on the application. The American
Jobs Plan focus on direct air capture also makes it more likely
that synthetic E-fuels can be created in scale and be used in hard
to decarbonize applications.
At Advent, we produce fuel cells that convert hydrogen and other
renewable fuels to electricity. These technologies will be
essential for realizing the goal of 100 percent clean power. Many
hard to decarbonize industrial and mobility applications such as
combined heat and power, grid and microgrid-level energy storage,
aviation, shipping, heavy duty automotive and off-grid applications
require zero-emissions fuels such as hydrogen and cannot rely
completely on batteries – opening new opportunities for industrial
use of hydrogen and fuel cells.
Consequently, it is key that the U.S. increase the private and
public sector joint efforts in next-generation fuel cell
technology. Advent has recently announced a series of initiatives
that will help achieve this goal, including:
- Advent’s new 21,401-square-foot Product Development &
Manufacturing Facility in Charlestown, MA;
- A Joint Collaboration with the U.S. Department of Energy (DoE)
for Next-Generation Fuel Cell Technology;
- The Sponsorship of a Program at Northeastern University to
Develop Materials for the Low-Cost Production of Hydrogen;
- UltraCell by Advent’s Wearable Fuel Cell, which was Selected by
the U.S. Department of Defense (DoD) for the DoD’s 2021 Validation
Program.
We look forward to an accelerated energy transition in the U.S.
under President Biden’s leadership; and we remain committed to
actively playing our role in decarbonizing the world.”
About Advent Technologies Holdings,
Inc.
Advent Technologies Holdings, Inc. is an American corporation
that develops, manufactures, and assembles critical components for
fuel cells and advanced energy systems in the renewable energy
sector. Advent is headquartered in Boston, Massachusetts, with
offices in the San Francisco Bay Area and Europe. With 120-plus
patents (issued and pending) for its fuel cell technology, Advent
holds the IP for next-gen high-temperature proton exchange
membranes (HT-PEM) that enable various fuels to function at high
temperatures under extreme conditions – offering a flexible ‘Any
Fuel. Anywhere’ option for the automotive, maritime, aviation
and power generation sectors. www.advent.energy
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version on businesswire.com: https://www.businesswire.com/news/home/20210419005509/en/
Advent Technologies Elisabeth Maragoula
emaragoula@advent.energy
Sloane & Company Joe Germani / James Goldfarb
jgermani@sloanepr.com / jgoldfarb@sloanepr.com
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