Fuel Cell Manufacturer Fills First Shipment
Order of Advanced Wearable Power System for United States
Department of Defense via U.S. Army DEVCOM C5ISR Center
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or
the “Company”), an innovation-driven leader in the fuel cell and
hydrogen technology space, today announced the launch of Honey
Badger 50™ (“HB50”), a compact portable fuel cell system and quiet
power supply for use in off-grid field applications, such as
military and rescue operations. The launch of Advent’s portable
power system coincides with the Company’s fulfillment of its first
shipment order from the United States Department of Defense. The
order was specifically placed by the U.S. Army DEVCOM C5ISR Center,
with funding through the Project Manager Integrated Visual
Augmentation System, which works to enhance the situational
awareness capabilities of soldiers. This effort is awarded under a
General Technical Services’ prime contract under “Next Generation
Power Component Systems” to support defense mission
requirements.
“While Honey Badger is currently only defense-related, we have
developed industrial applications, such as M-ZERØ, based on its
core technology. Defense-related projects are always important for
developing breakthrough technologies before they become widely
available and affordable within the broader market,” said Dr.
Vasilis Gregoriou, Advent’s Chairman & Chief Executive Officer.
“We expect that in the near future, we should see multiple
applications for Honey Badger portable power fuel cells in sectors
such as robotics, agriculture, drones, emergency operations, and
hospitality like leisure and camping. We are proud of the work of
our Silicon Valley-based team, and its vision for bringing to
market unique fuel cells that can support several sectors and fuel
sources.”
The HB50 power system can be fueled by biodegradable methanol,
allowing near silent generation of up to 50W of continuous power
with clean emissions. Designed for covert operations, HB50 can
easily power radio and satellite communications gear, remote fixed
and mobile surveillance systems, and, laptop computers along with
more general battery charging needs.
“Alongside Honey Badger’s rugged physical specification, we
wanted the device to be highly versatile when it comes to the fuel
sources. Developing HB50 to run on methanol means something as
easily accessible as windshield wiper fluid can be used to keep it
running – therefore maximizing the product’s adaptability to a
multitude of different applications beyond the battlefield,” added
Dr. Gregoriou.
HB50’s unique design allows it to be used in soldier-worn
configurations or operated inside a portable backpack or vehicle
while charging batteries and powering soldier systems, while its
thermal features allow it to operate within an ambient temperature
range of -20C to +55C. Aside from its optimized compatibility with
Integrated Visual Augmentation System (“IVAS”) and soldier systems
like Nett Warrior, Honey Badger can also power devices such as high
frequency radios like the model 117G, as well as B-GAN and StarLink
terminals. HB50’s durability allows it to be easily deployed in
challenging conditions and climates while supporting mission
mobility for three to seven days without the need to re-supply.
“We are honored and excited to support the US DoD in its vision
for advanced electronics, electrification, and power generation
capabilities in the field,” said Ian Kaye, Advent’s Senior Vice
President of Product Development. “The Honey Badger 50™ is a unique
technology that can provide 65% of weight savings versus batteries
over a typical 72-hour mission. The weight saving benefits increase
further for longer missions. We have also initiated the process to
receive approval for the testing of the system by other NATO
allies.”
Since Honey Badger’s fuel cell technology can run on hydrogen or
liquid fuels, the system can operate at a fraction of the weight of
traditional military-grade batteries to meet the US DoD’s
continuously evolving needs for ‘on-the-go’ electronics needs. As
military adoption and use of IVAS equipment continues to evolve,
the highly portable lightweight power solutions like Honey Badger
will become a mission critical necessity.
For more information about Advent Technologies Holdings, Inc.
and the Honey Badger 50™, please visit:
https://www.advent.energy/product-honey-badger-50/
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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version on businesswire.com: https://www.businesswire.com/news/home/20220804005573/en/
Elisabeth Maragoula/Michael Trontzos Advent Technologies
Holdings, Inc. press@advent.energy
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