Advent Technologies Set to Join Russell 3000® Index
June 09 2021 - 9:20AM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“), an
innovation-driven company in the fuel cell and hydrogen technology
space, today announced it is set to join the U.S. broad-market
Russell 3000® Index at the conclusion of this year’s Russell
indexes annual reconstitution. The preliminary list of additions
was released earlier this month on June 4, 2021, and the final
additions will become effective after the U.S. market opens on June
28, 2021.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 7, 2021, ranking them by total market
capitalization. Membership in the US all-cap Russell 3000® Index,
which remains in place for one year. This means Advent Technologies
will also be included in the Russell 2000® Index as well as the
appropriate growth and value style indexes. FTSE Russell determines
membership for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief
Executive Officer, said, “Advent’s addition to the Russell 3000®
Index demonstrates our increasing expansion across markets as a
technology of choice in the global energy transition to hydrogen.
We look forward to continuing along our fast growth trajectory in
providing industries with our patented high-temperature fuel cells
that allow the flexibility to decarbonize faster and more
efficiently though Advent’s “Any Fuel. Anywhere.” option.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in
assets are benchmarked against Russell’s U.S. indexes. Russell
indexes are part of FTSE Russell, a leading global index
provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About Advent Technologies Holdings,
Inc.
Advent Technologies Holdings, Inc. is a U.S. 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
(or pending) for its fuel cell technology, Advent holds the IP for
next-generation 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. For more information, visit
www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” “plan,” “could,” “may,”
“will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and
other words of similar meaning. Each forward-looking statement
contained in this press release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable risks
and uncertainties include, among others, the Company’s ability to
realize the benefits from the business combination; the Company’s
ability to maintain the listing of the Company’s common stock on
Nasdaq; future financial performance; public securities’ potential
liquidity and trading; impact from the outcome of any known and
unknown litigation; ability to forecast and maintain an adequate
rate of revenue growth and appropriately plan its expenses;
expectations regarding future expenditures; future mix of revenue
and effect on gross margins; attraction and retention of qualified
directors, officers, employees and key personnel; ability to
compete effectively in a competitive industry; ability to protect
and enhance our corporate reputation and brand; expectations
concerning our relationships and actions with our technology
partners and other third parties; impact from future regulatory,
judicial and legislative changes to the industry; ability to locate
and acquire complementary technologies or services and integrate
those into the Company’s business; future arrangements with, or
investments in, other entities or associations; and intense
competition and competitive pressure from other companies worldwide
in the industries in which the Company will operate; and the risks
identified under the heading “Risk Factors” in our Annual Report on
Form 10-K/A filed with the Securities and Exchange Commission on
May 20, 2021, as well as the other information we file with the
SEC. We caution investors not to place considerable reliance on the
forward-looking statements contained in this press release. You are
encouraged to read our filings with the SEC, available at
www.sec.gov, for a discussion of these and other risks and
uncertainties. The forward-looking statements in this press release
speak only as of the date of this document, and we undertake no
obligation to update or revise any of these statements. Our
business is subject to substantial risks and uncertainties,
including those referenced above. Investors, potential investors,
and others should give careful consideration to these risks and
uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20210609005543/en/
Advent Technologies Holdings, Inc. Elisabeth Maragoula
emaragoula@advent.energy
Sloane & Company James Goldfarb / Emily Mohr
jgoldfarb@sloanepr.com / emohr@sloanepr.com
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