Advent’s Methanol-Based Fuel Cell Unit Contributes to a New World Record set by ARM Engineering for Both Electric and Hydrogen-Powered Cars
June 08 2022 - 8:16AM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent"), an
innovation-driven leader in the fuel cell and hydrogen technology
space, is pleased to announce its contribution to the new world
record for the longest distance ever covered by a hydrogen vehicle
without refueling and an electric vehicle without recharging. The
record was broken within the framework of an innovative project
conducted by ARM Engineering, a French based research and
development firm focused on providing innovative and sustainable
solutions for the mobility market.
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Advent’s H3 5000 methanol-based fuel cell
unit in action (Photo: Business Wire)
ARM Engineering recently developed renewable synthetic methanol
called G-H3, which has, among other features, the ability to power
both thermal and electric vehicles, with the latter being powered
by a fuel cell. Choosing Advent's methanol-based H3 5000 fuel cell
unit as the power source for the electric Renault Zoe, ARM
Engineering and its team of highly experienced drivers managed to
cover a total of 2,055.68 km (1277.34 mi) over 40 hours while
driving at approximately 50 km/h (31 mph), setting the new world
records for the longest distance for a hydrogen-powered or an
electric vehicle on a single charge or fueling.
The project took place at the Albi circuit in France over the
course of three days. As part of the demonstration, five drivers
from ARM Engineering drove the modified Renault Zoe non-stop from
early morning until midnight, surpassing the previously achieved
world record of 1,360 km (845 mi)—proving the reliability and
efficiency of hydrogen-powered vehicles.
The H3 5000 fuel cell unit offers key advantages such as a long
operating lifetime, low service and maintenance fees, robust
functionality, and attractive total cost of ownership.
Dr. Emory De Castro, Advent's Chief Technology Officer, stated,
"we are proud to participate in this unique project, and we would
like to congratulate ARM Engineering for its well-deserved
achievement. This new world record represents a great example of
how fuel cells can produce clean and uninterrupted power while
replacing the need for conventional fuels. Undeniably, the global
hydrogen-powered fuel cell vehicle industry is accelerating at an
unprecedented rate, and we at Advent Technologies very much look
forward to continuing to be key enablers of this transition."
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that
develops, manufactures, and assembles complete fuel cell systems as
well as supplying customers with 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 150 patents issued,
pending, and licensed for fuel cell technology, Advent holds the IP
for next-generation HT-PEM that enables various fuels to function
at high temperatures and 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.
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 Advent’s corporate reputation and brand; expectations
concerning its relationships and actions with 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 Advent’s Annual
Report on Form 10-K filed with the Securities and Exchange
Commission (“SEC”) on March 31, 2022, as well as the other
information filed with the SEC. Investors are cautioned not to
place considerable reliance on the forward-looking statements
contained in this press release. You are encouraged to read
Advent’s 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 the Company undertakes no obligation
to update or revise any of these statements. Advent’s 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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Advent Technologies Holdings, Inc. Michael Trontzos / Chris
Kaskavelis press@advent.energy
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