Advent Technologies Celebrates National Hydrogen and Fuel Cell Day
October 07 2022 - 5:46PM
Business Wire
Advent Technologies is proud to support
tomorrow’s 8th annual National Hydrogen and Fuel Cell Day at a
critical time for the broader adoption of hydrogen and fuel cell
technologies across the globe
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or
the “Company”), an innovation-driven leader in the fuel cell and
hydrogen technology sectors, is pleased to join the U.S.A. in
celebrating the eighth annual National Hydrogen and Fuel Cell Day,
taking place on October 8, 2022. This day marks the growth of the
industry by raising the awareness of the benefits that hydrogen
energy and fuel cell technologies provide in reducing emissions
while driving economic growth.
The National Hydrogen and Fuel Cell Day is observed on October 8
in recognition of the atomic mass of hydrogen - 1.008. As countries
worldwide increasingly look to hydrogen as a critical tool to
decarbonize, the U.S.A. is uniquely positioned to take a leadership
role. Aiming to play an active role in decarbonizing the world
quickly with green hydrogen and innovative fuel cell technology,
Advent is on a mission to bring its proprietary high
temperature-proton exchange membrane (“HT-PEM”) technology to the
market by building world-class fuel cells and electrolysers that
have a low total cost of ownership and high environmental impact.
More information about Advent’s innovative technology can be found
through Advent’s newly released video on YouTube, where the
Company’s Chief Technology Officer, Dr. Emory De Castro, provides
an overview of its unique competitive advantages.
Since last year’s National Hydrogen and Fuel Cell Day, Advent
has been selected as a key driver of large-scale decarbonization
projects in Southeastern Europe and has accelerated its efforts by
launching new innovative products and partnering with some of the
world’s leading laboratories. At the same time, Advent has
substantially increased its global workforce and has invested in
the build-out of new facilities that will create numerous job
opportunities in the global clean energy space.
Some of these developments include:
- Development of next-generation Advent MEAs: On March
2022, Advent announced the availability of its next-generation MEAs
(“Advent MEA”), which are currently being developed within the
framework of L’Innovator, Advent’s joint development program with
the U.S. Department of Energy’s Los Alamos National Laboratory,
Brookhaven National Laboratory, and National Renewable Energy
Laboratory.
- Advent’s Green HiPo IPCEI Project: On June 16, 2022,
Advent announced that it had received notification from the Greek
State for funding under the IPCEI Hydrogen – Technology. The
notification from the Greek State was submitted to the European
Union (“E.U.”) under the IPCEI framework and was subsequently
ratified by the E.U. Green HiPo is expected to be based in the
region of Western Macedonia, Greece, and will involve the
construction of a state-of-the-art development and manufacturing
facility to produce fuel cells and electrolyser systems. Advent
intends to create up to 650 direct jobs for qualified scientific
and technical personnel and 4,620 indirect jobs over a six-year
period.
- Advent as a Key Partner to Co-Sign Multi-State Memorandum of
Understanding for a U.S. Northeast Clean Hydrogen Hub: Advent
has co-signed a MoU with the New York State Energy Research and
Development Authority and more than 60 clean hydrogen ecosystem
partners to collaborate on the development of a proposal that will
enable the Northeastern United States to become one of at least
four regional clean hydrogen hubs designated through the federal
Regional Clean Hydrogen Hubs program.
- Progress towards the completion of Advent’s new Hood Park
facility build-out: The new state-of-the-art manufacturing
facility in Charlestown, Massachusetts, is expected to be
operational in Autumn 2022 and will create numerous job
opportunities by primarily focusing on the development and
production of next generation fuel cell components.
- Rapid expansion of Advent’s innovative technologies and
product offerings worldwide: Advent is now rolling out complete
hydrogen fuel cell systems, and its global salesforce has expanded
the Company’s reach across North America, Continental Europe, the
Middle East, and Asia.
- Launch of portable fuel cell system for use in off-grid
field applications: The Company launched Honey Badger 50™, 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 coincided
with the Company’s fulfillment of its first shipment order from the
United States Department of Defense.
- New innovative fuel cell systems that can decarbonize
hard-to-abate sectors: Advent’s new DIGI-TRONIC™ solution will be based on Advent’s
next-generation MEAs and unique engineering architecture. This
net-zero solution aims to redefine the future of mobility and solve
the key problems of EVs, such as range, refill time, flexibility,
payload, and cost per mile. DIGI-TRONIC is developed with an
architecture that can be massively scaled from 50W to 1MW with the
same basic design.
The Road Map to a U.S. Hydrogen Economy report projects that
continued investment in hydrogen will support more than 3 million
jobs and $750 billion in revenue by 2050, meeting 14% of total
energy demand and reducing total carbon dioxide emissions by 16%.
In the transportation sector alone, hydrogen energy can provide 33%
of fuel for heavy trucks and aviation globally and 60% of fuel for
marine shipping, helping to reduce U.S. transportation system
emissions by 30%.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent,
commented on this celebration, “Advent Technologies is thrilled to
celebrate the 8th Annual National Hydrogen and Fuel Cell Day at a
time of significant momentum for America’s transition to clean
energy technologies. I strongly believe in hydrogen’s future as a
zero-carbon solution for many industries and a significant
contributor to the energy mix. We have seen many positive
developments and multilateral actions that have accelerated global
decarbonization efforts. Hydrogen’s moment is here, right now; and
all of us at Advent Technologies are thrilled to be contributors.
We are filled with enthusiasm and ambition about the future and the
potential for a cleaner world.”
Dr. Emory De Castro, CTO of Advent, stated:
“Decarbonization and cleaner air is a top priority for many
governments and industries around the world. Advent is a clean
energy pioneer making the engines of the future. Advent’s fuel
cells are adaptable, durable, and extremely flexible when
converting hydrogen and other fuels to electricity. We look forward
to further accelerating the global move to net-zero by providing
the clean power from hydrogen fuels needed to move away from
polluting diesel generators and combustion engines, towards a
brighter future.”
For more information on the multiple benefits of Advent’s
innovative Fuel Cell technology, please visit:
https://www.youtube.com/watch?v=W8qkwuIqK4A
For more information on National Hydrogen and Fuel Cell Day,
please visit: www.hydrogenandfuelcellday.org.
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/20221007005548/en/
Advent Technologies Holdings, Inc. Elisabeth Maragoula / Michael
Trontzos press@advent.energy
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