Smart Communications, an Advent partner, is
currently rolling out fuel cell sites across the Philippines on
rooftops, on-ground and in challenged-grid areas to boost
sustainable energy solutions for IT infrastructure as part of the
United Nations Race to Zero Campaign, its green transition
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”)
today announced that with its partner, Smart Communications Inc.
(”Smart”), the company has successfully completed the first
installation of its HG 5000 fuel cell systems across the
Philippines. The delivery Agreement was made earlier this year
between Smart in the Philippines and Advent Technologies A/S in
Denmark (formerly SerEnergy A/S).
Smart’s partnership with Advent follows its commitment to the
United Nations Race to Zero Campaign with the GSM Association
(GSMA), as a member of the trade alliance’s Climate Action Task
Force. The movement of the global industry of mobile network
operators highlights its broad-based commitment to zero emissions
from all stakeholders. Race to Zero is a global campaign that aims
to mobilize leadership and support from businesses, cities,
regions, and investors for a net zero carbon emissions by 2050.
Dr. Vasilis Gregoriou, Advent Technologies Holdings Chairman and
CEO said, “The successful roll-out of our fuel cell systems is a
major step forward in showcasing our commitment to decarbonizing
the world at a faster and more efficient rate. Our work is in line
with initiatives such as the United Nations Race to Zero Campaign;
and we are proud to bring our CO2-reducing technologies into play
at Smart’s telecommunications sites in the Philippines.”
As the wireless arm of the Philippines’ largest fully integrated
telecommunications company, PLDT Inc., Smart’s shift to green
energy follows the announcement of the Philippines Department of
Energy in Q4 of 2020 that the government will no longer accept
proposals to build new coal power plants, from the new Energy
Conservation and Efficiency Act signed into law in 2019. These
significant policy shifts support the deployment of cleaner energy
sources to help ensure more sustainable growth for the country.
Morten Hougaard Sørensen, Advent Technologies A/S Senior Vice
President, added, “We are proud that Smart has chosen our clean
power technology to pursue the use of renewable energy in their
facilities and solve simultaneously their challenges for 5G
requirements as our systems offer them an easily scalable solution
with a cost-effective extension of runtime. Our fuel cells are the
next step for customers in the green transition. We welcome
customers who care for their business. We welcome customers who
care for their climate accountability. We welcome customers who
take actions. Together, we make it happen.”
Alfredo S. Panlilo, Smart Communications President and CEO and
PLDT Chief Revenue Officer, noted, “PLDT and Smart are active
advocates of sustainable development. As we face daunting
challenges on how to protect our environment and promote more
equitable social development, Smart’s cutting-edge technologies can
play a significant role in rallying the right socio-environmental
mindset and driving a greater sense of responsibility to the
planet.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that
develops, manufactures, and assembles complete fuel cell systems,
and the critical components for fuel cells in the renewable energy
sector. Advent is headquartered in Boston, Massachusetts, with
offices in California, Greece, Denmark, Germany, and the
Philippines. With more than 100 patents issued for its fuel cell
technology, Advent holds the IP for next-generation HT-PEM that
enable various fuels to function at high temperatures under extreme
conditions – offering a flexible “Any Fuel. Anywhere.” option for
the automotive, aviation, defense, oil and gas, marine, and power
generation sectors. For more information, visit
www.advent.energy.
About Smart Communications, Inc.
Smart Communications, Inc. (Smart) is a wholly owned wireless
communications and digital services subsidiary of PLDT, Inc., the
Philippines’ largest and only integrated telecommunications
company. Smart serves approximately 95% of the country’s cities and
municipalities with its combined 2G, 3G, 4G LTE, and 5G network*,
providing mobile communications services, high-speed internet
connectivity, and access to digital services and content to over
72.9 million Filipinos*, through its commercial brands Smart and
TNT. Smart also offers satellite communication services under the
brand Smart World. As part of PLDT’s massive digital transformation
program, Smart has committed to give more than 96% of the
population access to its most advanced LTE-A and 5G networks, in
order to support the country’s growing digital economy, as well as
provide the best customer experience for an increasingly digital
Filipino lifestyle.
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
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/20211020005626/en/
Media Contacts
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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