BOSTON–(COMMERCIAL WIRE)–Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the hydrogen and fuel cell technology sectors, is pleased to join the U.S. USA to celebrate the eighth annual National Fuel Cell and Hydrogen Day, which will take place on October 8, 2022. This day marks the growth of the industry by raising awareness of the benefits of renewable energy technologies. hydrogen and fuel cells to reduce emissions while driving economic growth.
National Hydrogen and Fuel Cell Day is celebrated on October 8 in recognition of the atomic mass of hydrogen – 1.008. As countries around the world increasingly view hydrogen as a critical tool to decarbonize, the US is uniquely positioned to take a leadership role. Aiming to play an active role in rapidly decarbonizing the world with green hydrogen and innovative fuel cell technology, Advent is on a mission to bring its patented High Temperature Proton Exchange Membrane (“HT-PEM”) technology to market. “) by building world-class fuel cells and electrolyzers that have low total cost of ownership and high environmental impact. More information about Advent’s innovative technology can be found via Advent’s recently released YouTube video, where the company’s CTO, 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 decarbonisation projects in South East Europe and has accelerated its efforts by launching innovative new products and partnering with some of the leading laboratories in the world. At the same time, Advent has substantially increased its global workforce and has invested in the construction of new facilities that will create numerous job opportunities in the global clean energy space.
Some of these developments include:
- Next Generation Advent MEA Development: In March 2022, Advent announced the availability of its next-generation MEAs (“Advent MEAs”), which are currently being developed under L’Innovator, Advent’s joint development program with the Los Alamos National Laboratory of the US Department of Energy, Brookhaven National Laboratory and National Renewable Energy Laboratory.
- Advent Green HiPo IPCEI Project: On June 16, 2022, Advent announced that it had received a notification from the Greek State to receive funding under IPCEI Hydrogen – Technology. The Greek State’s notification was submitted to the European Union (“EU”) under the IPCEI and was subsequently ratified by the EU. Green HiPo is expected to be based in the Western Macedonia region, 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 staff and 4,620 indirect jobs over a six-year period.
- Advent as a Key Partner to Co-Sign a Multi-State MoU for a Clean Hydrogen Hub in the Northeast US: Advent has signed a memorandum of understanding 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 in one of at least four regional clean hydrogen projects. designated hubs through the federal Regional Clean Hydrogen Hubs program.
- Progress toward completion of construction of Advent’s new Hood Park facility: The new state-of-the-art manufacturing facility in Charlestown, Massachusetts is expected to be operational in the fall of 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 around the world: Advent is now implementing complete hydrogen fuel cell systems, and its global sales force has expanded the company’s reach into 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 the 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 shipping order from the US Department of Defense.
- Innovative new fuel cell systems that can decarbonize hard-to-reduce sectors: The new DIGI-TRONIC from Advent™ The solution will be based on Advent’s next-generation MEAs and a unique engineering architecture. This net zero solution aims to redefine the future of mobility and solve key electric vehicle issues such as range, charging time, flexibility, payload and cost per mile. DIGI-TRONIC is built on an architecture that can be massively scaled from 50W to 1MW with the same basic design.
The Road Map to a US 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. carbon by 16%. In the transportation sector alone, hydrogen power can provide 33% of global aviation and heavy-duty truck fuel and 60% of shipping fuel, helping to reduce emissions from the fuel system. US freight by 30%.
Dr. Vasilis Gregoriou, President and CEO of Adventcommented on this celebration, “Advent Technologies is pleased to celebrate the 8th Annual National Hydrogen and Fuel Cell Day at a time of great momentum for America’s transition to clean energy technologies. I strongly believe in the future of hydrogen as a zero-carbon solution for many industries and as a significant contributor to the energy mix. We have seen many positive developments and multilateral actions that have accelerated global decarbonization efforts. The hydrogen moment is here, right now; and all of us at Advent Technologies are delighted to be partners. We are full of enthusiasm and ambition about the future and the potential for a cleaner world.”
Dr. Emory De Castro, CTO of Adventstated: “Decarbonization and cleaner air is a priority for many governments and industries around the world. Advent is a clean energy pioneer building the engines of the future. Advent fuel cells are adaptable, durable and extremely flexible in converting hydrogen and other fuels into electricity. We look forward to further accelerating the global shift to net zero by providing the clean energy from hydrogen fuels needed to move us away from diesel generators and polluting combustion engines, towards a brighter future.”
To learn more about the many benefits of Advent’s innovative Fuel Cell technology, visit: https://www.youtube.com/watch?v=W8qkwuIqK4A
For more information on National Hydrogen and Fuel Cell Day, visit: www.hydrogenandfuelcellday.org.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is an American corporation that develops, manufactures and assembles complete fuel cell systems, as well as supplies customers with critical fuel cell components 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 issued, pending and/or licensed patents for fuel cell technology, Advent owns the intellectual property for next-generation HT-PEM that enables multiple fuels to operate at high temperatures and extreme conditions, offering a fuel choice flexible 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
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