Advent Technologies Receives Richard P. Feynman Innovation Prize for Technology Transfer Excellence from Los Alamos National Laboratory
August 31 2023 - 9:58AM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN), an
innovation-driven leader in the fuel cell and hydrogen technology
sectors, is pleased to announce that it has received the esteemed
Richard P. Feynman Innovation Prize for Technology Transfer
Excellence from the U.S. Department of Energy’s Los Alamos National
Laboratory.
This year, the Richard P. Feynman Innovation Prizes have honored
remarkable achievements in technology transfer poised for
commercialization. The recognition spans across diverse domains
such as hydrogen fuel cell systems, sustainable energy solutions,
and forensic science. The award ceremony took place at the SALA
Event Center in Los Alamos on August 30th, featuring Dr. Thom
Mason, Director of Los Alamos National Laboratory, as the keynote
speaker.
This accolade directly stems from Advent's active participation
in the inaugural L’Innovator™ program. Collaborating with esteemed
institutions like Los Alamos National Laboratory, Brookhaven
National Laboratory, and the National Renewable Energy Laboratory,
Advent leverages the program to reach into advanced technology from
top-tier U.S. research institutions. The program's mission revolves
around advancing and commercializing ion-pair Membrane Electrode
Assembly (“MEA”) technology.
MEAs significantly influence the performance, longevity,
efficiency, weight, and cost of fuel cells. Through L’Innovator,
Advent and U.S. national laboratory researchers have successfully
dealt with the common challenges in the product development cycle,
and subsequently established domestic manufacturing capabilities.
This initiative advances innovative technology and supports
commercial success, as well as having a key role in strengthening
the domestic supply chain and promoting the adoption of clean
hydrogen technology to help achieve U.S. greenhouse gas emission
targets.
Advent's groundbreaking Ion-Pair™ MEA technology positions the
Company as a frontrunner in transforming global MEA markets.
Advent’s Ion-Pair MEAs have already demonstrated an increase in
operational lifetimes as well as operating at far higher current
densities compared with high-temperature PBI-based MEAs. Thus,
Advent’s Ion-Pair powered fuel cells are well suited for demanding
applications such as heavy-duty mobility.
Present at the prestigious award ceremony was Advent's Chief
Technology Officer, Dr. Emory De Castro, who remarked, "We are
honored to receive the Richard P. Feynman Innovation Prize for
Technology Transfer Excellence. This award reflects the dedication
of our team and the collaboration with esteemed institutions in the
L’Innovator program. Our gratitude extends to the U.S. Department
of Energy’s Los Alamos National Laboratory, Brookhaven National
Laboratory, and the National Renewable Energy Laboratory for their
partnership. Through L’Innovator, we have expanded our horizons,
entering markets previously inaccessible with existing HT-PEM
materials. The potential for the Advent Ion Pair MEA technology to
revolutionize the fuel cell industry and drive global sustainable
energy solutions is truly exciting."
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,
suitable 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, 2023, 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
press@advent.energy
Advent Technologies (NASDAQ:ADN)
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