Advent Technologies Announces the Successful Delivery of Portable Fuel Cell Products to the Hellenic Army
August 17 2022 - 9:08AM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or
the “Company”), an innovation-driven leader in the fuel cell and
hydrogen technology space, is pleased to announce the successful
delivery of Advent’s portable fuel cell products to the Hellenic
Army’s Z Amphibious Raider Squadron (“Z’MAK”).
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Advent’s fuel cell technology powers a highly sophisticated,
incredibly portable battery charger designed to meet the rugged
off-grid power needs in performance-demanding settings, such as
those regularly faced by Z’MAK and other military divisions. The
portable fuel cell can be quickly and efficiently utilized by
remote military units to power off-grid radio, surveillance gear,
and other mobile electronic military equipment by operating under
even the most challenging combat conditions. Advent’s portable fuel
cell uses the Company’s proprietary methanol reformation technology
to deliver premium performance alongside a significant reduction in
size and weight.
Lightweight and compact, the portable fuel cell fits in soldier
plate carrier systems and rucksacks, maximizing efficiency and
portability across a full range of military operations. The
portable fuel cell delivers up to 50W of continuous power and up to
85W of peak power, ensuring a reliable charging experience to a
wide variety of the high power electronic devices regularly used by
Z’MAK in deployment.
Advent’s portable fuel cell operates silently, and can run
uninterrupted off grid for up to two weeks with a single
hot-swappable fuel tank. The portable fuel cells have been deployed
successfully within the framework of PARMENION National large-scale
Joint Exercise.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive
Officer, stated: “We are excited about our ongoing collaboration
with the Hellenic Army and we are grateful for their trust and
confidence in our products. The ability of Advent’s products to
effectively meet the increasing operating needs of key defense
applications has been demonstrated in the field, and this
demonstrates that our “Any Fuel. Anywhere.” strategy is more
relevant than ever. All of us at Advent Technologies look forward
to continuing this collaboration with the Hellenic Army, playing
our part in their challenging mission to protect Greek national
interests and to guarantee the integrity of Greek territorial
waters, the mainland, and the islands.”
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/or 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 fuel 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/20220817005422/en/
Advent Technologies Holdings, Inc. Elisabeth Maragoula / Michael
Trontzos press@advent.energy
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