Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or
the "Company"), an innovation-driven leader in the fuel cell and
hydrogen technology sectors, actively participated in the inaugural
Clean Transition Dialogue on Hydrogen organized by the European
Commission in Brussels, Belgium on October 10, 2023.
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EU Representatives and Industry Leaders
at the Inaugural Clean Transition Dialogue in Brussels, organized
by the European Commission. (Photo: Business Wire)
This very significant event, which addressed the vital hydrogen
sector's role in ensuring Europe's energy independence, brought
together key figures from the EU and top executives from companies
and organizations engaged in the European hydrogen value chain. The
event opened with an address by European Commission President
Ursula von der Leyen and featured a keynote speech by Executive
Vice President Maroš Šefčovič. Specialized thematic sessions
followed, during which participants explored ideas and best
practices to strengthen the industrial dimension of the European
Green Deal and expedite the growth of the hydrogen sector
throughout Europe.
Dr. Vasilis Gregoriou, the Chairman and CEO of Advent
Technologies, who also chairs the Coordination Group for the
Important Project of Common European Interest ("IPCEI") in hydrogen
technology, "Hy2Tech," had the opportunity to brief President von
der Leyen on the progress of projects endorsed by the EU under
IPCEI Hy2Tech. Dr. Gregoriou also addressed the length of time that
it is taking to secure funding for Advent Technologies' EU-ratified
Green HiPo project in Greece, reiterating the Company's resolute
commitment to executing the project efficiently.
The Green HiPo project is among the 41 initiatives under IPCEI
Hy2Tech, collectively prepared and reported by fifteen Member
States. Its implementation is a pivotal step towards fulfilling the
EU's goal of producing 10 million tonnes of renewable hydrogen in
Europe by 2030. In July 2022, the European Commission officially
ratified Advent's Green HiPo project following a notification by
the Greek State in June 2022, securing total funding of up to EUR
782.1 million.
The Green HiPo project focuses on the development, design, and
production of HTPEM fuel cell systems and electrolyser systems for
the production of power and green hydrogen, respectively. Located
in Kozani, Greece, this project is expected to play a crucial role
in transitioning the Western Macedonia region from a coal-based
economy to a more sustainable economic model. A state-of-the-art
facility in Kozani will serve as the production hub for fuel cells
and electrolysers, contributing significantly to the region's
economic development.
Advent Technologies has already installed over 1,200 HTPEM fuel
cell systems worldwide, replacing environmentally harmful diesel
generators and providing clean energy to sectors such as
telecommunications and critical communication infrastructure.
Moreover, Advent is expected to lead the way in electrifying
commercial ships, trucks, and aircraft, with these fuel cell
systems being produced in the Kozani region as part of the Green
HiPo project.
In the aftermath of the event, Dr. Vassilis Gregoriou,
Advent's Chairman and CEO, stated, "There is no doubt that the
European Union is eager to support hydrogen and related
technologies to drive its green transition. We extend our gratitude
to President Ursula von der Leyen and Executive Vice President
Maroš Šefčovič for affording us the opportunity to collectively
explore the industry's future. We remain hopeful that we will
swiftly overcome the bottleneck in securing funding for the Green
HiPo project, allowing us to accelerate its implementation, a
project of paramount significance for the energy future of Greece
and Europe."
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, 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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