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Toyota and Hyundai on a collision course????
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=170327602&txt2find=toyota
“ This prospectus supplement amends and supplements (i) the prospectus dated April 19, 2022 (as supplemented or amended from time to time, the “April 19 Prospectus”), which forms a part of our Registration Statement on Form S-1 (No. 333-253114) and (ii) the prospectus dated April 28, 2022 (as supplemented or amended from time to time, the “April 28 Prospectus” and together with the April 19 Prospectus, the “Prospectuses” and each, a “Prospectus”), which forms a part of our Registration Statement on Form S-1 (No. 333-264421). This prospectus supplement is being filed to update and supplement the information in each Prospectus with the information contained in our Current Report on Form 8-K as filed with the Securities and Exchange Commission (the “SEC”) on September 2, 2022 (which is attached to and a part of this prospectus supplement), only to the extent that any information contained in those documents is deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
The April 19 Prospectus and this prospectus supplement relate to the issuance by us of up to an aggregate of (i) 22,029,279 shares of our common stock that may be issued upon exercise of warrants to purchase common stock at an exercise price of $11.50 per share (the “public warrants”) issued by AMCI Acquisition Corp. (“AMCI”) in its initial public offering; (ii) 3,940,278 shares of our common stock that may be issued upon exercise of placement warrants at an exercise price of $11.50 per share that were originally sold to AMCI Sponsor LLC (the “Sponsor”) in a private placement consummated simultaneously with AMCI’s IPO (the “placement warrants”); and (iii) up to an aggregate of 400,000 shares of our common stock that may be issued upon the exercise of the working capital warrants at an exercise price of $11.50 per share that were issued to the Sponsor in connection with loans made by it to AMCI prior to the closing of the Business Combination, (the “working capital warrants” and, together with the placement warrants and the public warrants, the “warrants”).
The April 19 Prospectus and this prospectus supplement also relate to the offer and sale, from time to time, by the selling securityholders named in the April 19 Prospectus or any of their permitted transferees, of (i) up to an aggregate of 6,500,000 shares of our common stock that were issued to certain investors in a private placement in connection with the closing of the Business Combination; (ii) up to an aggregate of 12,370,323 shares of our common stock otherwise held by the selling securityholders; (iii) up to an aggregate of 3,940,278 shares of our common stock that may be issued upon exercise of the placement warrants held by the selling securityholders; (iv) up to an aggregate of 400,000 shares of our common stock that may be issued upon the exercise of the working capital warrants held by the selling securityholders and (v) up to an aggregate of 3,940,278 placement warrants and 400,000 working capital warrants held by the selling securityholders, as further described in the April 19 Prospectus. The April 19 Prospectus and this prospectus supplement also cover any additional securities that may become issuable by reason of share splits, share dividends or other similar transactions.
The April 28 Prospectus relates to the offer and sale, from time to time, by the selling securityholders named in the April 28 Prospectus or any of their permitted transferees of up to an aggregate of 10,152,865 shares of our common stock, consisting of (i) 5,124,846 shares issued to F.E.R. fischer Edelstahlrohre GmbH on August 31, 2021 pursuant to the Share Purchase Agreement, dated as of June 25, 2021, and (ii) 5,028,019 shares held by other selling securityholders. The April 28 Prospectus and this prospectus supplement also covers any additional securities that may become issuable by reason of share splits, share dividends or other similar transactions.
Our common stock and warrants are listed on Nasdaq under the symbols “ADN” and “ADNWW”, respectively. On October 13, 2022, the closing price of our common stock was $2.13 per share and the closing price of our warrants was $0.329 per share.
This prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the information in this prospectus supplement.
Investing in our securities involves risks that are described in the “Risk Factors” section beginning on page 13 of the Prospectus.
Neither the SEC nor any state securities commission has approved or disapproved of the securities to be issued under the Prospectus or determined if the Prospectus or this prospectus supplement is truthful or complete. Any representation to the contrary is a criminal offense.
The date of this prospectus supplement is October 13, 2022.
”
And for all the dreamers like myself, enjoy the following video:
Water Firing Hypercar with NASA Technology | Hyperion
Supercar Blondie
9.98M subscribers
523,330 views Oct 28, 2022
This is the Hyperion XP-1... One of the most advanced cars ever built, it's powered by a hydrogen propulsion system which makes the car literally spits water from the exhaust. Also utilizes some of the most advanced technology ever added to a car, it can be charged in 5 minutes and has a range of over 1500km. The XP-1 can also reach 0-100kh/m in just 2.2 seconds and has a top speed of over 350km/h. Alex gives us a closer look at what is sure to be the coolest and most advanced cars ever.
Thanks to Hyperion, for more info on the XP-1, check them out here:
https://www.hyperion.inc/hyperionmoto...
https://www.instagram.com/hyperionmotors
https://www.facebook.com/hyperionmotor
In case anyone is wandering how the article in my previous post relates to Advent, it's because of the following relatively recent Press Release:
Hyundai Motor Company and Advent Technologies Celebrate Commencement of Technology Assessment
POSTED ON APRIL 27, 2022 BY ADVENT TECHNOLOGIES
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer (left), and Dr. Jong Kook Lee, Hyundai’s Executive Director (right), during the signing ceremony in Advent’s Headquarters in Boston
Hyundai steps up hydrogen investment by $6.7 billion committment
27/10/2022
https://www.6pr.com.au/hyundai-steps-up-hydrogen-investment-by-6-7-billion-committment/
The Hyundai Group has announced a massive investment in hydrogen, committing $6.7 billion towards “the fuel of the future.”
Scott Phillips, Chief Investment Officer at Motley Fool told Oliver Peterson on Perth Live that hydrogen should be in the mix for our automotive future.
“When you block off potential ideas, when you simply say we think the race has been won and done…I think that’s a mistake,” he told Oly.
“I just think this is a smart idea, if you think about what hydrogen offers, a six kilo hydrogen tank can take you about as far as a standard full tank of petrol or diesel.”
In case anyone is wandering how is the article in my previous post relevant to Advent, it is because of the following recent article:
Ministry of Energy of Saudi Arabia and Hydrogen Systems Inc. Representatives Visit Advent Technologies Global HQ
POSTED ON OCTOBER 4, 2022 BY ADVENT TECHNOLOGIES
Senior representatives from the Ministry of Energy of Saudi Arabia, and, Hydrogen Systems, Inc. visited Advent’s corporate headquarters and new Hood Park manufacturing facility in Boston, MA.
From left to right: John Speranza (Advisory Board Member, Hydrogen Systems), Warren Brower (Vice President of Business Development, Advent Technologies), Rich Nelson (Facilities Operations Manager, Advent Technologies), Jim Coffey (Chief Operating Officer & General Counsel, Advent Technologies), Zeid Al-Ghareeb (General Director for Hydrogen and Circular Carbon Economy, Ministry of Energy of Saudi Arabia), Hala Alobaidallah (Senior Engineer, Ministry of Energy of Saudi Arabia).
Boston, MA – October 4, 2022 – Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors today announced that, on Tuesday, September 20, 2022, it hosted senior representatives from the Ministry of Energy of Saudi Arabia, and, Hydrogen Systems Inc. (“Hydrogen Systems”), a hydrogen energy solutions company based in Riyadh, Saudi Arabia, to formally discuss Advent’s recently announced collaboration with Hydrogen Systems.
Under the MoU signed on September 6, 2022, Hydrogen Systems aims to utilize existing relationships in the telecom and hydrogen energy marketplace in the Kingdom of Saudi Arabia and throughout the Middle East to market, sell, distribute, install, and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Advent fuel cells realize a significant carbon reduction advantage over conventional diesel remote power generation technology. HT-PEM fuel cells can operate with a range of low or zero-carbon hydrogen fuels and enable efficient heat management. Such fuel cells can produce power in extreme ambient temperatures (from -40°C up to +55°C) and in conditions such as high air pollution and low humidity, leading to a longer product lifetime coupled with lower total cost of ownership.
As part of their official visit, the General Director for Hydrogen and Circular Carbon Economy from the Ministry of Energy of Saudi Arabia, Zeid Al-Ghareeb, along with Senior Engineer from the Ministry of Energy of Saudi Arabia, Hala Alobaidallah, and Advisory Board Member of Hydrogen Systems, John Speranza, travelled to Advent’s headquarters in Boston at 200 Clarendon Street, to participate in meetings with Advent’s Chief Operating Officer and General Counsel, James F. Coffey; Vice President of Business Development, Warren Brower; Facilities Operations Manager, Rich Nelson; and Senior Engineer, Jeff Baldic.
Advent representatives provided an overview of the Company’s path to growth and global operations, while also highlighting Advent’s critical role in speeding-up the Middle East’s transition to clean energy technologies. The attendees also discussed the next steps for Advent’s collaboration with Hydrogen Systems.
The visit continued with a tour of Advent’s new state-of-the-art manufacturing facility at the Hood Park campus in Charlestown, Massachusetts, which is expected to be operational in Autumn 2022. Located at the heart of one of Boston’s newest innovation and R&D communities, Hood Park will primarily focus on the development and production of the next generation of fuel cell components, allowing Advent to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy space.
Jim Coffey, Advent’s Chief Operating Officer and General Counsel, stated: “The first in-person meetings with representatives from the Ministry of Saudi Arabia and Hydrogen Systems provided a great opportunity for us to present the numerous advantages of Advent’s highly differentiated technology and showcase the significant opportunities that the forthcoming opening of our new Hood Park facility will unlock for Advent. At the same time, we had the pleasure of discussing our mutual involvement in potential large-scale development opportunities for hydrogen fuel cell power applications across the Middle East. We would like to extend our gratitude to all attendees for the productive meetings and for taking the time to visit our Boston and Charlestown facilities.”
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, added: “We are thrilled to join the Middle East’s road to decarbonization through our HT-PEM fuel cells and other hydrogen technologies that can effectively replace conventional and polluting energy sources. We hope that these meetings with the Saudi Ministry of Energy and Hydrogen Systems mark the beginning of a long-lasting and highly impactful collaboration with a focus on accelerating the Middle East’s clean energy transition.”
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.
About Hydrogen Systems, Inc.
Hydrogen Systems is a Saudi Arabia based company dedicated to delivering the most comprehensive and cost-effective hydrogen gas solutions to its customers in the greater GCC region. Hydrogen Systems was founded in 2009 and has grown steadily by providing valuable solutions and services to their customers. With the establishment of the Hydrogen Energy Center of Excellence, Hydrogen Systems is committed to the localization and development of hydrogen energy and decarbonization solutions to meet the growing demand in the region.
Greece Will Get Renewable Energy Sources from Saudi Arabia
October 27, 2022
https://www.thenationalherald.com/greece-will-get-renewable-energy-sources-from-saudi-arabia/
ATHENS – Further trying to wean off reliance on Russian energy over its invasion of Ukraine, Greece is looking to Saudi Arabia as a source of renewable energy to make a stake as an energy hub for the European Union.
Speaking to Arab News at the 6th edition of the Future Investment Initiative forum in Riyadh, Investment and Development Minister Adonis Georgiadi said Saudi Arabia is working on a plan to export green hydrogen.
Saudi Arabia is “going to produce the biggest green hydrogen on the planet. So yes, this would be one way,” he said, the country building the world’s largest green hydrogen plant in NEOM that is expected to be online in 2025.
“We will also build a cable and will let electricity flow from the Kingdom to Europe,” said Georgiadis as the two countries have tightened ties, adding that a memorandum of understanding would be signed once a deal is reached.
Georgiadis said he believes Foreign Direct Investments and exports will be the major contributors to growth in 2023 and that more investments are likely to come from Saudi Arabia and the United Arab Emirates.
When Saudi and Greek officials met in July during Crown Prince Mohammed bin Salman’s visit to Athens, the discussions focused on joint ventures in communications, transport, logistics and energy.
Georgiadis said he and his Saudi counterpart will meet again in Athens for the first business council meeting between both countries.
“The council will have its first session next week in Athens, with a lot of private enterprises from both countries that have already started to sign agreements together, integrated together, and opening a new era in our economic relationship, our effort is to find a way to balance our economic relationship to the same excellent level as in the political level,” he said.
A strategic partnership between the Saudi and Greek private sectors to build a data cable between the two countries was also announced on the sidelines of the Crown Prince’s visit.
Global PEM Electrolyzer and MEA Component Market
June 2022
https://www.researchandmarkets.com/reports/5603653/global-pem-electrolyzer-and-mea-component-market
The global PEM electrolyzer (PEMEL) market should grow from $737.6 million in 2022 to $4.3 billion by 2027 with a compound annual growth rate (CAGR) of 42.2% for the period of 2022-2027.
The PEMEL market for hydrogen fueling stations should grow from $370.0 million in 2022 to $3.5 billion by 2027 with a compound annual growth rate (CAGR) of 56.9% for the period of 2022-2027.
The PEMEL market for the chemical industry should grow from $99.6 million in 2022 to $183.9 million by 2027 with a compound annual growth rate (CAGR) of 13.1% for the period 2022-2027.
ADN market share and potential growth in the market:
$1 - $1.4 trillion investment is needed by 2040 to meet de-carbonation commitments
Diesel generator market
$37 billion 2027
Telco market
1.18 million telecom towers globally and growing because of 5G
Electrolyser market
17.5 GW of electrolisers by 2025
MEA market
The global PEM electrolyzer (PEMEL) market should grow from $737.6 million in 2022 to $4.3 billion by 2027 with a compound annual growth rate (CAGR) of 42.2% for the period of 2022-2027. Compound Annual Growth Rate 42.2%
The PEMEL market for hydrogen fueling stations should grow from $370.0 million in 2022 to $3.5 billion by 2027 with a compound annual growth rate (CAGR) of 56.9% for the period of 2022-2027.
The PEMEL market for the chemical industry should grow from $99.6 million in 2022 to $183.9 million by 2027 with a compound annual growth rate (CAGR) of 13.1% for the period 2022-2027.
Fuel Cell market
The Global Proton Exchange Membrane Fuel Cell (PEMFC) Market Size was estimated at USD 1,063.45 million in 2021 and is projected to reach USD 7,154.37 million by 2028, exhibiting a CAGR of 31.30% during the forecast period.
Billions:
Portable Power Systems
Heavy duty Trucks
Trucks
Marine
Aviation
Trains
Niche market: $2 billion market by 2027
Drones
Robotics
Surveillance
Augmented Reality
Agriculture
The latest interview of Advent's Chairman and CEO, Dr. Vasilis Gregoriou, is featured on the Greek energy website "energyin.gr". In it, Dr. Gregoriou discusses the critical role that #hydrogen and related technologies will play in achieving #carbonneutrality and how the recent geopolitical upheaval has led to the further acceleration of the #greenenergytransition. At the same time, Dr. Gregoriou shares Advent's #investment plans and future goals by highlighting the Company's expansion throughout the region of Western Macedonia through the Green HiPo Project under the framework of #IPCEI, as well as how its new R&D and manufacturing facility at the Hood Park campus in Charlestown, Massachusetts will enable Advent to scale up and deliver on the increasing global demand for electrochemical components in the #cleanenergy sector.
We met in his office Dr. Vassilis Grigoriou, president and CEO of Advent Technologies, the company that holds a leading position in the field of fuel cell technology. In a full-length discussion, he told us about the company's listing on the NASDAQ Stock Exchange in New York, the new projects that are coming and its future plan.
“The role of hydrogen in achieving a sustainable energy transition is more important than ever”
Interview: Margarita Asimakopoulou
- K. Grigoriou, tell us about the course of Advent Technologies, which already counts 16 years since its establishment.
Advent was founded in 2006 in Patras by scientists who had a common vision for the future: a world with clean, safe, sustainable and affordable energy. Today, Advent is a subsidiary of Advent Technologies Holdings, Inc. (NASDAQ: ADN), an American company based in Boston, Massachusetts, that develops, manufactures and markets advanced fuel cell-based renewable energy systems.
To date, we have completed 38 Research and Development projects that have been funded by the European Union, the USA, but also at the national level by the countries in which we operate. At the same time, we have developed strong intellectual property with more than 150 patents in fuel cell technology and maintain long-term business partnerships with giants such as BASF and De Nora.
All these years we have been working hard with the aim of bringing next-generation fuel cell technology to market and leading the global transition to green energy. Our highly differentiated technology “answers” ??key issues facing the hydrogen economy, such as infrastructure costs and total cost of ownership.
2021 was a pivotal year for our company. The year began with the successful listing of Advent on the NASDAQ New York Stock Exchange, followed by important strategic partnerships and commercial agreements, which helped us expand our presence in new, international markets. At the same time, we significantly strengthened our production capacity, with acquisitions of innovative companies in Germany, Denmark and the USA.
Advent now has more than 200 employees worldwide and maintains offices and facilities in the US, Greece, Denmark, Germany and the Philippines. We are convinced that the innovative technology we are developing will play a leading role in the global energy transition. The main reason is that it allows fuel cells to be able to run on hydrogen carrier fuels (methanol, ethanol, natural gas), which can be stored more easily compared to pure hydrogen. This comparative advantage has established Advent as a global leader in the development of advanced materials, components and processes for fuel cell applications in the automotive, aerospace, defense, oil and gas,
2022 has been a milestone year for the development of our company. The potential of our technology is being explored by major automotive companies such as Hyundai Motor Company, and we are already in advanced discussions with industry leaders. Our technology is based on Advent's new next-generation high-temperature proton exchange membrane, which we are currently developing under L'Innovator, a promising development program with the US Department of Energy's Los Alamos National Research Center, Brookhaven National Laboratory and the National Renewable Energy Laboratory.
In addition, we work with the US Department of Defense and the Greek Army, providing portable fuel cell devices that can be used quickly and efficiently by military units. It is worth noting that Advent recently signed an agreement with the state of Brandenburg in Germany for the supply of fuel cell systems. The specific systems will be installed in vital infrastructures of the wider region within the next three years.
At Advent we aim to implement projects that will leave their own unique imprint. One of these projects is the Green HiPo project, an Important Project of Common European Interest of the value chain "Hydrogen Technologies and Systems" (IPCEI Hydrogen). The Green HiPo is expected to be implemented in the region of Western Macedonia and concerns the construction and operation of an industrial plant, as well as Research and Development facilities for the production of fuel cells and electrolysis units. The European Commission proceeded to validate the Green HiPo in July 2022, following notification by the Greek State. The total amount of financing may reach 782.1 million euros and will be completed in six years. In addition,
– Lately we hear more and more often that renewable energy is now the only way for the "green" transition. Do you think hydrogen can become one of the mainstream alternative fuels?
Undoubtedly, the role of hydrogen in achieving a sustainable energy transition is more important than ever before. In addition to the numerous environmental benefits of using hydrogen, we are seeing increasing efforts by governments and industry to harness it as a key ingredient in accelerating the green transition. One such example is the Joint Declaration, co-signed in May 2022 by leading manufacturers of electrolysis units in Europe, in the context of a joint statement with the European Commission in Brussels. Advent Technologies was one of the companies that signed the declaration, which aims to increase the production capacity of European Union member states tenfold to 17.5GW by 2025. All Advent employees recognize the need to act immediately and, through the implementation of Green HiPo, we aim to contribute significantly to the demanding goals of the European Union. At the same time, the US has already taken significant steps to accelerate the development and production of green hydrogen technologies through the federal "Regional Clean Hydrogen Hubs" program.
– Are you optimistic about the future of this particular market?
Recent geopolitical developments and their implications have given rise to the further acceleration of the green energy transition. Furthermore, by 2030, the majority of industries will be forced to use electricity produced by zero-emission technologies, such as hydrogen. I am very optimistic about the future of this market and I strongly believe that the faster adoption of hydrogen technologies is a solution, which is based on logic, as it can bring numerous advantages for Greece, the European Union and the whole world. One of the most important advantages is the reduction of dependence on external markets. Also, through the increasing production of green hydrogen, in the coming years we will see hydrogen prices begin to compete with those of fossil fuels. At the same time, the cost of fuel cells is expected to drop just as significantly, and these powerful and simple electrochemical engines will begin to become a dynamic part of our daily lives. So it would not be an exaggeration to say that hydrogen and its related technologies are now a key part of the solution to the current geopolitical and energy crisis but also an integral part of the future energy mix!
– We recently saw that you were among the key partners who signed a Memorandum of Understanding to create a green hydrogen hub in the US Northeast. How did this collaboration come about?
As I mentioned above, we are going through a very important period for the US transition to clean energy technologies. As an ambitious company born in Greece but now based in Boston, we saw this initiative as an important opportunity to highlight the unique advantages of our technology and contribute in a meaningful way to the transformation of 6 northeastern states of the USA (Connecticut, Massachusetts, Maine , New Jersey, New York and Rhode Island) to one of at least four regional green hydrogen hubs designated through the federal Regional Clean Hydrogen Hubs program. This alliance lays the groundwork for the creation and submission of a proposal with the aim of leveraging funding from the United States Department of Energy, which is expected to be announced by October 2022, and is up to US$8 billion. We are excited to be part of such a meaningful industry collaboration – with more than 60 world-renowned partners active in the field of green hydrogen – which places a strong emphasis on innovation and investment in safe, clean hydrogen energy and addressing climate change, while at the same time, it aims to improve the health and economic development of the residents. Although it is still in the early stages, I believe that the footprint that Advent will leave through its participation in this particular program will be extremely important. We are excited to be part of such a meaningful industry collaboration – with more than 60 world-renowned partners active in the field of green hydrogen – which places a strong emphasis on innovation and investment in safe, clean hydrogen energy and addressing climate change, while at the same time, it aims to improve the health and economic development of the residents. Although it is still in the early stages, I believe that the footprint that Advent will leave through its participation in this particular program will be extremely important. We are excited to be part of such a meaningful industry collaboration – with more than 60 world-renowned partners active in the field of green hydrogen – which places a strong emphasis on innovation and investment in safe, clean hydrogen energy and addressing climate change, while at the same time, it aims to improve the health and economic development of the residents. Although it is still in the early stages, I believe that the footprint that Advent will leave through its participation in this particular program will be extremely important. clean hydrogen energy and to combat climate change, while at the same time aiming to improve the health and economic development of the inhabitants. Although it is still in the early stages, I believe that the footprint that Advent will leave through its participation in this particular program will be extremely important. clean hydrogen energy and to combat climate change, while at the same time aiming to improve the health and economic development of the inhabitants. Although it is still in the early stages, I believe that the footprint that Advent will leave through its participation in this particular program will be extremely important.
– What are your next investment plans and future goals?
We are currently nearing completion of construction of a new state-of-the-art manufacturing facility at the Hood Park campus located in Charlestown, Massachusetts. Hood Park is one of Boston's newest and largest research and innovation hubs. The production facility is expected to be operational in the fall of 2022 and will primarily focus on the development and production of the next generation of fuel cell components that we are developing in collaboration with the US Department of Energy. This new production facility will allow us to significantly increase our production capacity and meet the growing global demand for innovative products in the renewable energy sector. At the same time, through the implementation of Green HiPo, we will proceed with the construction of an industrial plant for the production of fuel cells and electrolysis units in Western Macedonia, with the aim of producing, within six years, innovative fuel cell systems with a total capacity of 120MW and electrolysis units with a total capacity of 1.5GW. The new production unit in Western Macedonia is expected to create approximately 650 new jobs over the course of 6 years for qualified scientific and technical personnel, contributing significantly to the economic development of the region. There is no doubt that Advent is now going through a period of rapid growth. We will continue to invest in the further improvement of our technology, with the ultimate goal of building world-class fuel cells and electrolysis units with a low total cost of ownership and a significant environmental impact.
Who is who
Dr. Vassilis Grigoriou is the president and CEO of Advent Technologies Holdings, Inc. (NASDAQ: ADN) and an internationally recognized scientist with research and management positions in the USA (Northeastern University, MIT, Polaroid Corporation, Princeton University) and in Greece (National Research Foundation, Technology and Research Foundation). Dr. Grigoriou is co-inventor of 16 patents and his published work includes 3 books, 6 book chapters and over 100 scientific papers. He has over 25 years of experience in the US market, focusing on the technical development of new products and the management of such activities. He holds a PhD in Physical Chemistry from Duke University and attended Northeastern University's MBA program.
https://energyin.gr/2022/10/26/dr-grigoriou-advent-technologies-o-rolos-tou-idrogonou/
Puzzling chart...
Historical data from TDA below.
07/20/22 3.07 3.165 2.95 3.04 1,223,500
07/19/22 2.85 3.12 2.76 3.09 3,226,200
07/18/22 3.50 3.60 2.93 2.95 50,470,600
07/15/22 2.66 2.68 2.55 2.63 597,300
07/14/22 2.57 2.63 2.495 2.59 576,200
07/13/22 2.71 2.71 2.56 2.59 668,400
07/12/22 2.50 2.828 2.50 2.74 1,184,200
07/11/22 2.71 2.71 2.44 2.51 1,062,700
07/08/22 2.69 2.965 2.65 2.72 1,474,900
07/07/22 2.63 2.79 2.63 2.79 1,324,600
07/06/22 2.65 2.78 2.58 2.68 2,377,000
07/05/22 2.29 2.64 2.26 2.64 1,794,000
07/01/22 2.45 2.54 2.31 2.34 2,269,300
06/30/22 2.37 2.53 2.28 2.52 2,047,900
06/29/22 2.29 2.45 2.20 2.42 1,585,600
06/28/22 2.50 2.57 2.24 2.38 2,633,800
06/27/22 2.38 2.54 2.32 2.52 2,539,200
06/24/22 2.51 2.81 2.33 2.52 9,953,700
06/23/22 3.02 3.45 2.43 2.53 15,739,200
06/22/22 2.73 3.53 2.58 3.24 16,886,600
06/21/22 3.17 3.33 2.76 2.83 30,423,700
06/17/22 3.35 3.64 2.89 2.89 36,778,000
06/16/22 2.90 4.48 2.76 3.99 216,436,900
06/15/22 1.19 1.23 1.13 1.16 994,100
06/14/22 1.25 1.28 1.20 1.20 444,900
06/13/22 1.29 1.30 1.25 1.28 419,700
06/10/22 1.41 1.41 1.32 1.39 508,800
06/09/22 1.56 1.568 1.42 1.45 756,800
06/08/22 1.54 1.65 1.51 1.55 869,700
06/07/22 1.41 1.525 1.36 1.51 880,400
06/06/22 1.48 1.48 1.35 1.41 658,500
06/03/22 1.31 1.44 1.30 1.44 714,000
06/02/22 1.26 1.39 1.26 1.34 503,400
06/01/22 1.41 1.41 1.27 1.30 525,500
05/31/22 1.49 1.49 1.335 1.36 754,900
05/27/22 1.40 1.52 1.375 1.49 626,700
05/26/22 1.35 1.48 1.34 1.39 606,100
05/25/22 1.32 1.412 1.32 1.38 631,900
05/24/22 1.38 1.42 1.305 1.36 859,700
05/23/22 1.50 1.51 1.37 1.40 1,445,100
05/20/22 1.71 1.72 1.46 1.50 2,740,800
05/19/22 1.63 1.73 1.55 1.70 699,200
05/18/22 1.67 1.79 1.62 1.66 714,400
05/17/22 1.60 1.725 1.57 1.72 857,900
05/16/22 1.66 1.75 1.53 1.55 1,404,300
05/13/22 1.75 1.86 1.66 1.69 898,900
05/12/22 1.53 1.80 1.52 1.69 871,800
05/11/22 1.82 1.82 1.66 1.67 553,200
05/10/22 1.91 1.92 1.69 1.84 768,600
05/09/22 1.91 1.96 1.79 1.88 1,260,400
05/06/22 1.90 1.955 1.82 1.93 653,000
05/05/22 1.96 1.98 1.88 1.93 586,300
05/04/22 1.82 1.98 1.735 1.97 989,300
05/03/22 1.89 1.955 1.76 1.82 1,063,100
05/02/22 1.92 1.995 1.82 1.90 1,461,700
04/29/22 1.98 2.10 1.935 1.95 715,300
04/28/22 2.01 2.02 1.88 1.98 1,087,000
04/27/22 2.00 2.045 1.94 1.97 631,700
04/26/22 2.02 2.065 1.965 1.97 831,700
04/25/22 1.98 2.10 1.96 2.08 1,069,700
04/22/22 2.00 2.10 1.96 2.04 1,113,000
04/21/22 2.21 2.255 2.02 2.05 1,415,200
04/20/22 2.37 2.405 2.175 2.21 1,320,000
04/19/22 2.22 2.43 2.21 2.36 1,071,600
04/18/22 2.34 2.41 2.21 2.28 1,026,500
04/14/22 2.44 2.45 2.29 2.34 1,276,600
04/13/22 2.33 2.49 2.33 2.46 1,563,300
04/12/22 2.68 2.71 2.32 2.35 2,459,700
04/11/22 2.81 2.83 2.57 2.685 2,921,100
04/08/22 3.36 3.55 2.80 2.95 9,382,800
04/07/22 3.32 3.45 3.04 3.30 19,275,600
04/06/22 2.58 3.98 2.47 3.63 162,129,600
04/05/22 2.22 2.28 1.985 2.02 1,314,400
04/04/22 2.20 2.33 2.16 2.21 1,249,900
Massachusetts Elected Officials and Policymakers Visit Advent Technologies’ New Manufacturing Facility at Hood Park
October 21 2022
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/89352619/massachusetts-elected-officials-and-policymakers-v
Massachusetts State Senator, State Representative, and Policymakers meet with Advent executives at the Company’s new Hood Park facility to discuss the key role of fuel cells in driving forward the clean energy transition
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today announced that on Friday, October 14, 2022, it hosted elected officials and policymakers from Massachusetts at its new R&D and manufacturing facility at the Hood Park campus in Charlestown, Massachusetts.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221021005248/en/
From left to right: Dr. Emory De Castro (Chief Technology Officer, Advent Technologies), Sue Whitaker (Regional Director at the Massachusetts Office of Business Development), Warren Brower (Vice President of Business Development, Advent Technologies), Danny Ryan (State Representative), Dr. Vasilis Gregoriou (Chairman and Chief Executive Officer, Advent Technologies), Mark Wigfall (Greater Boston Market Maker from Commonwealth Corporation), Jim Coffey (Chief Operating Officer & General Counsel, Advent Technologies)
State Senator Sal DiDomenico, State Representative Danny Ryan, Regional Director at the Massachusetts Office of Business Development Sue Whitaker, and, Greater Boston Market Maker from Commonwealth Corporation Mark Wigfall were welcomed to the Hood Park campus by senior Advent executives, including Advent’s Executive Chairman of the Board and CEO Dr. Vasilis Gregoriou, CTO Dr. Emory De Castro, COO and General Counsel Jim Coffey, Vice President of Business Development Warren Brower and Facilities and Operations Manager Rich Nelson.
The visit started with a walking tour of Advent’s new state-of-the-art facility, located at the heart of one of Boston’s latest innovation and R&D communities in Charlestown. Hood Park is expected to be operational in December 2022 and will primarily focus on the development and production of Advent’s next-generation fuel cell components, allowing the Company to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy sector.
One of the products to be manufactured within the Hood Park facility is the next-generation Membrane Electrode Assembly (“Advent MEA”), which is currently being developed within the framework of L’Innovator, the Company’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory (LANL), Brookhaven National Laboratory (BNL), and National Renewable Energy Laboratory (NREL). MEAs form the heart of the fuel cell, and their performance determines the lifetime, efficiency, weight, and to a large extent the cost of the downstream electrochemistry products. Advent intends that both its own products such as SereneU, Honey Badger 50™, MZERØ and third party products will be able to use the new Advent MEAs in mass production from 2024, according to the Company’s growth plan.
The visit of Massachusetts elected officials and policymakers to the Hood Park campus continued with a presentation of Advent’s wide range of fuel cell products and future plans. Advent executives had the opportunity to highlight the unique competitive advantages of the Company’s proprietary High-Temperature Proton Exchange Membrane (HT-PEM) technology – which can support multiple fuels, efuels, and low-grade hydrogen on board and operate under extreme conditions (-38°C to +50°C) – and share details regarding Advent’s current projects in the U.S., highlighting the Company’s potential involvement in the development of a proposal for a U.S. Northeast Clean Hydrogen Hub.
The Massachusetts clean energy sector has experienced significant growth over the past years, and the state continues to pursue innovative measures to ensure grid modernization, storage, and alternative transportation. In March 2021, Governor Baker signed into law An Act Creating a Next-Generation Roadmap for Massachusetts Climate Policy, putting the Commonwealth on a pathway to achieve net-zero greenhouse gas emissions by 2050. According to Massachusetts Clean Energy Center’s 2021 Industry Report, the Massachusetts clean energy industry saw 68% jobs growth since 2010, counting approximately 101,208 clean energy workers. Furthermore, according to the American Council for an Energy-Efficient Economy’s 2020 State Energy Efficiency Scorecard, in 2020, Massachusetts ranked second in energy efficiency across the U.S.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, stated: “We would like to extend our gratitude to State Senator DiDomenico, State Representative Ryan, Ms. Whitaker, and Mr. Wigfall for taking the time to visit our new Charlestown facility. With the grand opening of Hood Park fast approaching, this meeting was an excellent opportunity to showcase how this new facility is expected to unlock significant market opportunities for Advent across the U.S. and create numerous job opportunities for young Material Scientists and Fuel Cell Engineers based in Massachusetts. The Advent team looks forward to contributing greatly to Massachusetts’ ambitious goal of achieving net-zero greenhouse gas emissions by 2050 through constantly innovating, with a focus on sustainability and energy efficiency.”
Dr. Emory De Castro, Advent’s Chief Technology Officer, added: “We were deeply honored to host Massachusetts elected officials and policymakers to our new Hood Park facility and provide them with an overview of Advent’s manufacturing scale-up plans and growth path. As a proud Boston-based Company, we selected Massachusetts and Hood Park due to the close proximity to top research universities and access to a wide pool of intellectual talent. Hood Park will play a key role in further strengthening our efforts to help the world decarbonize quickly by enabling Advent to scale-up the manufacturing of next-generation electrochemistry components, which are expected to revolutionize the fuel cell industry.”
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.
Advent Technologies Chairman and CEO Dr. Vasilis Gregoriou at the 2nd Hydrogen Americas Summit.
Posted Oct 14, 2022
Advent Technologies Inc.
On Monday, October 10, 2022, Advent Technologies Chairman and CEO Dr. Vasilis Gregoriou participated as a speaker in a panel discussion titled “CEO Panel: Opportunities in Future Hydrogen Markets 5-10 Years” at the 2nd Hydrogen Americas Summit co-hosted by the U.S. Department of Energy and the Sustainable Energy Council.
The modern economic model of production that our country has slowly begun to adopt - better late than never - is not only about the modern digital age but also about the green transition.
The investments in infrastructure that have started and will be completed in the coming years in Greece, whether they concern ports, road axes, or energy projects, energy roads and interconnections, will be orchestrated by a digital state based on the new technologies of the 4th Industrial Revolution.
At the same time, Greece is rapidly emerging as a protagonist in RES and is ranked 7th globally for 2021 in terms of the share of solar and wind as sources of total electricity production.
Last Friday, even for a period of five hours, the nationwide need for electricity was covered for the first time entirely with "green energy".
The prospects that pumped storage projects will create to store "green" energy, offshore wind farms and "green" hydrogen projects will lead us to an ever greater proportion of the green mix in power generation.
https://www-liberal-gr.translate.goog/agores/i-adiorati-lampsi-tis-ellinikis-oikonomias?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Korea Shipbuilding & Offshore Engineering to demonstrate fuel cell-applied ship operation
NEWS PROVIDED BY
Hyundai Heavy Industries (HHI) Group
Oct 11, 2022, 03:00 ET
https://www.prnewswire.com/news-releases/korea-shipbuilding--offshore-engineering-to-demonstrate-fuel-cell-applied-ship-operation-301645535.html
SEOUL, South Korea, Oct. 11, 2022 /PRNewswire/ -- Hyundai Heavy Industries Group (HHI Group) speeds up the era of eco-friendly ships by launching a demonstration project to apply fuel cells, which are in the spotlight as a next-generation energy source, to large vessels.
Korea Shipbuilding & Offshore Engineering (KSOE), the intermediate holding company of HHI Group's shipbuilding sector, said on October 11 that it signed a consortium agreement to demonstrate fuel cells for ships with global energy company Shell, Doosan Fuel Cell, HyAxiom, and DNV.
The agreement signing ceremony was attended by Samhyun Ka, Vice Chairman and CEO of KSOE; Sungjoon Kim, Head of KSOE's Advanced Research Center; Karrie Trauth, Senior Vice President of Shell; Jeff Hyungrak Chung, President and CEO of HyAxiom, Hooseok Che, Executive Vice President and Chief Operating Officer of Doosan Fuel Cell; and Vidar Dolonen, Regional Manager Korea & Japan, DNV.
According to the agreement, HHI Group will use a 600KW high-efficiency Solid Oxide Fuel Cell (SOFC) for power generation on a 174,000 cubic-meter LNG carrier to be run by Shell from 2025. Based on this, it will develop and supply high-efficiency, eco-friendly ships that can apply fuel cells to propulsion power sources in the long term.
This LNG carrier will use fuel cells as an auxiliary power unit (APU) and perform its demonstration for one year on the actual trade route.
Based on the expertise in shipbuilding for over 50 years, HHI Group will build a ship, design and install SOFC placements, and integrate the ship system.
Shell will be in charge of managing and operating the ship, as well as managing the demonstration project, while Doosan Fuel Cell and HyAxiom will develop and supply fuel cells for the ship. DNV will conduct inspections of the structure and equipment of the demonstration ship for accreditation registration.
The International Maritime Organization (IMO) has announced environmental regulations aimed at reducing greenhouse gas emissions by 50 percent from that of 2008 by 2050 to reduce greenhouse gas emissions in the shipping industry. Accordingly, next-generation ships that apply high-efficiency fuel innovation systems, such as fuel cells, along with eco-friendly energy sources, such as LNG, hydrogen, and ammonia, have been drawing significant attention.
"The shipbuilding and shipping industries are experiencing rapid innovations environmentally friendly and digitally," said KSOE Vice Chairman Ka. "We expect to preoccupy next-generation eco-friendly ship technologies and speed up marine decarbonization through this fuel cell-applied ship demonstration."
Karrie Trauth, SVP of Shipping & Maritime at Shell, said "This consortium and the cutting-edge technology we're pioneering could help deliver less carbon-intensive operations in the near term while unlocking a pathway to net-zero through the blending of conventional and alternative fuels until zero-carbon options are available at scale. We're excited to be collaborating with some of the leading names in shipping who share a vision of a zero-emission industry and are working hard to progress shipping decarbonization."
In addition to this agreement, HHI Group is developing its own SOFC technologies to promote fuel cell development projects.
Advent Technologies Celebrates National Hydrogen and Fuel Cell Day
10/07/2022
https://ir.advent.energy/news/news-details/2022/Advent-Technologies-Celebrates-National-Hydrogen-and-Fuel-Cell-Day/default.aspx
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
BOSTON--(BUSINESS WIRE)-- 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:
Greek Minister of Labour and Social Affairs visits Advent Technologies’ Patras Facilities
POSTED ON OCTOBER 7, 2022 BY ADVENT TECHNOLOGIES
https://www.advent.energy/2022/10/07/greek-minister-of-labour-and-social-affairs-visits-advent-technologies/
Minister Hatzidakis spoke with Advent executives about the Company’s Green HiPo Project under the framework of IPCEI and expansion throughout the region of Western Macedonia, Greece.
From left to right: Dr. Nora Gourdoupi (Senior Vice President of Corporate Business Development, Advent Technologies), Kostis Hatzidakis (Minister of Labour and Social Affairs of the Hellenic Republic), Antigoni Vafeidou (Director of Operations and Legal for Europe, Advent Technologies)
Boston, MA – October 7, 2022 – Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today announced that on Wednesday, October 5, 2022, the Greek Minister of Labour and Social Affairs, Kostis Hatzidakis, visited the Company’s research and production facilities in Patras, Greece, as part of his planned visit to the Patras Science Park.
Advent Senior Vice President of Corporate Business Development, Dr. Nora Gourdoupi, and Advent Director of Operations and Legal for Europe, Antigoni Vafeidou, welcomed Minister Hatzidakis to the Company’s state-of-the-art facilities focusing on the research and production of membranes, electrodes, and Membrane Electrode Assemblies.
During an instructive discussion, Dr. Gourdoupi and Ms. Vafeidou shared the next steps towards the implementation of the Green HiPo Project (“Green HiPo”) under the framework of the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology and highlighted the Company’s intention to create approximately 630 direct jobs for qualified scientific and technical personnel and up to 4,620 indirect jobs over a period of six years. Green HiPo is expected to be based in Western Macedonia, Greece, and involves the development, design, and manufacture of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and electrolysers for the production of power and green hydrogen respectively.
At the same time, Dr. Gourdoupi presented to Minister Hatzidakis the environmental benefits and the multiple applications – addressing both large and small energy needs – of Advent’s wide range of innovative fuel cell products. During the visit, Minister Hatzidakis was also informed about the Company’s history in the Greek market, which was founded in 2006 with a shared vision for a world with clean, safe, sustainable and affordable energy. Dr. Gourdoupi also provided an overview of the key achievements that the Company accomplished after its NASDAQ listing in February 2021 and shared details about the solid intellectual property portfolio it has developed, with more than 150 patents issued, pending, and/or licensed.
Dr. Gourdoupi stated: “We would like to extend our gratitude to Minister Hatzidakis for our constructive discussion during his visit to our facilities in Patras. It was a great opportunity to present the Company’s ambitious plans in Greece and share Advent’s commitment to continue investing in the domestic research and scientific community through a new state-of-the-art facility that will be home to the production and research activities for innovative fuel cells and electrolyser systems, which will significantly contribute to Western Macedonia’s economic development. We are confident that Green HiPo can be the starting point for new private investments and become a beacon of attraction for Greek scientists and specialized professionals who work abroad and want to further develop their careers by returning to Greece.”
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.
The market might be too stupid to imagine the possibility and necessity of hydrogen power until millions of people freeze to death this winter. The lack of urgency when there should be a rush to supply Advent’s green energy solution is as appalling as the circumstances that require it. The pope, King Charles and every billionaire should be ashamed of this Shareprice for a cornerstone company integral to transitioning from fossil fuels. They think the investor base can wait forever to see gains on common sense solutions at a decently low OS, it’s shocking to me to see this SP struggling when it is more important than the multitude of cloud computing companies that trade in the hundreds per share which will depend on hydrogen energy to compute.
Fit for 55: Transport MEPs want car-recharging stations every 60 km
Press Releases TRAN 10/4/2022
https://www.europarl.europa.eu/news/en/press-room/20221003IPR42118/fit-for-55-transport-meps-want-car-recharging-stations-every-60-km
Summary
- Faster and more powerful roll-out of recharging stations on main EU roads
- Easy to use recharging/refuelling with affordable, comparable and non-discriminatory price
- MEPs also adopted mandatory targets for fewer emissions in the maritime sector
- Cars should be able to recharge every 60 km and refuel hydrogen every 100 km, while ships use on-shore power supply at ports, to help the EU become climate neutral by 2050.
The Transport and Tourism Committee adopted a draft negotiating mandate on the deployment of alternative fuels infrastructure by 36 votes to 2 and 6 abstentions on Monday evening. It aims to spur the deployment of recharging or alternative refuelling stations (such as electric or hydrogen) for cars, trucks, trains and planes and support the uptake of sustainable vehicles.
Mandatory recharging/refuelling stations targets
MEPs agreed to set minimum mandatory national targets for the deployment of alternative fuels infrastructure and to ask EU countries to present their plan by 2024 on how to achieve it.
According to the adopted text, electric charging pools for cars would have to be deployed at least every 60 km along main EU roads by 2026. For trucks and buses, the same requirements would apply by 2026, but only on core TEN-T networks. MEPs also want charging stations for trucks in a safe and secure parking place to be deployed more quickly: two charging stations from 2028 instead of one from 2031 as proposed by the Commission. In all cases, some deployment exemptions would apply to outermost regions, islands and roads with very little traffic.
MEPs also suggest setting up more hydrogen refuelling stations along main EU roads compared to the Commission proposal (every 100 km as opposed to every 150 km) and to do it faster (by 2028 as opposed to by 2031).
Simple recharging
Users of alternative fuel vehicles should be able to pay easily, the price should be displayed per kWh or per kg, be affordable, comparable and accessible to all vehicle brands. MEPs also want an EU access point for alternative fuels data to be set up by 2027 to provide information on the availability, waiting times and prices at different stations.
EP rapporteur on alternative fuels infrastructure Ismail Ertug (S&D, DE) said: “Sustainable alternative fuels and the deployment of their infrastructure play a key role in the transition to a successful decarbonisation of the transport sector. By expanding charging infrastructure more quickly, we are making the transition to climate-friendly mobility easier for people and the industry.”
Sustainable maritime fuels
Transport MEPs also voted through a draft negotiating mandate on sustainable maritime fuels rules (FuelEU Maritime) by 36 votes to 6 and 2 abstentions, the same evening. It aims to cut maritime sector greenhouse gas (GHG) emissions from ships by 2% as of 2025, 20% as of 2035 and 80% as of 2050 (Commission proposed a 13% and 75% reduction).
This would apply for ships above a gross tonnage of 5000, in principle responsible for 90% of CO2 emissions, to all energy used on board in or between EU ports, and to 50% of energy used on voyages where the departure or arrival port is outside of the EU.
MEPs also set a target of 2% of renewable fuels usage and mandated containerships and passenger ships to use on-shore power supply while at berth at main EU ports as of 2030. This would significantly reduce air pollution in ports.
In order to secure compliance, the committee favours the introduction of penalties. Revenues generated from these should go to the Ocean Fund and contribute to decarbonising the maritime sector, energy efficiency and zero-emission propulsion technologies.
EP rapporteur on sustainable maritime fuels Jörgen Warborn (EPP, SE) stressed: “With today’s vote, we lay out by far the most ambitious pathway to maritime decarbonisation in the world. This agreement strikes the balance between ensuring that our climate targets are met efficiently, while safeguarding the maritime sector's competitiveness and shielding industries and families from rising prices.”
Next steps
Once Parliament as a whole has approved this draft negotiating position at the October II plenary session, MEPs will be ready to start talks with EU governments on the final shape of the legislation.
3. Possible profitability 2022
“Our pipeline is robust and together with year one of the Green HiPo funding expected later in 2022. We expect to exceed our previous estimate of $23 million for the year from the total of revenue and grant income” at a $11 million burn rate that = surplus of $1 million plus $5 million improvement reimbursement of Hood Park facility.
https://seekingalpha.com/article/4532065-advent-technologies-holdings-inc-adn-ceo-vasilis-gregoriou-on-q2-2022-results-earnings-call
Senior representatives from the Ministry of Energy of Saudi Arabia, and, Hydrogen Systems, Inc. visited Advent’s corporate headquarters and new Hood Park manufacturing facility in Boston, MA.
Boston, MA – October 4, 2022 – Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology sectors today announced that, on Tuesday, September 20, 2022, it hosted senior representatives from the Ministry of Energy of Saudi Arabia, and, Hydrogen Systems Inc. (“Hydrogen Systems”), a hydrogen energy solutions company based in Riyadh, Saudi Arabia, to formally discuss Advent’s recently announced collaboration with Hydrogen Systems.
Under the MoU signed on September 6, 2022, Hydrogen Systems aims to utilize existing relationships in the telecom and hydrogen energy marketplace in the Kingdom of Saudi Arabia and throughout the Middle East to market, sell, distribute, install, and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Advent fuel cells realize a significant carbon reduction advantage over conventional diesel remote power generation technology. HT-PEM fuel cells can operate with a range of low or zero-carbon hydrogen fuels and enable efficient heat management. Such fuel cells can produce power in extreme ambient temperatures (from -40°C up to +55°C) and in conditions such as high air pollution and low humidity, leading to a longer product lifetime coupled with lower total cost of ownership.
As part of their official visit, the General Director for Hydrogen and Circular Carbon Economy from the Ministry of Energy of Saudi Arabia, Zeid Al-Ghareeb, along with Senior Engineer from the Ministry of Energy of Saudi Arabia, Hala Alobaidallah, and Advisory Board Member of Hydrogen Systems, John Speranza, travelled to Advent’s headquarters in Boston at 200 Clarendon Street, to participate in meetings with Advent’s Chief Operating Officer and General Counsel, James F. Coffey; Vice President of Business Development, Warren Brower; Facilities Operations Manager, Rich Nelson; and Senior Engineer, Jeff Baldic.
Advent representatives provided an overview of the Company’s path to growth and global operations, while also highlighting Advent’s critical role in speeding-up the Middle East’s transition to clean energy technologies. The attendees also discussed the next steps for Advent’s collaboration with Hydrogen Systems.
The visit continued with a tour of Advent’s new state-of-the-art manufacturing facility at the Hood Park campus in Charlestown, Massachusetts, which is expected to be operational in Autumn 2022. Located at the heart of one of Boston’s newest innovation and R&D communities, Hood Park will primarily focus on the development and production of the next generation of fuel cell components, allowing Advent to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy space.
Jim Coffey, Advent’s Chief Operating Officer and General Counsel, stated: “The first in-person meetings with representatives from the Ministry of Saudi Arabia and Hydrogen Systems provided a great opportunity for us to present the numerous advantages of Advent’s highly differentiated technology and showcase the significant opportunities that the forthcoming opening of our new Hood Park facility will unlock for Advent. At the same time, we had the pleasure of discussing our mutual involvement in potential large-scale development opportunities for hydrogen fuel cell power applications across the Middle East. We would like to extend our gratitude to all attendees for the productive meetings and for taking the time to visit our Boston and Charlestown facilities.”
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, added: “We are thrilled to join the Middle East’s road to decarbonization through our HT-PEM fuel cells and other hydrogen technologies that can effectively replace conventional and polluting energy sources. We hope that these meetings with the Saudi Ministry of Energy and Hydrogen Systems mark the beginning of a long-lasting and highly impactful collaboration with a focus on accelerating the Middle East’s clean energy transition.”
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.
About Hydrogen Systems, Inc.
Hydrogen Systems is a Saudi Arabia based company dedicated to delivering the most comprehensive and cost-effective hydrogen gas solutions to its customers in the greater GCC region. Hydrogen Systems was founded in 2009 and has grown steadily by providing valuable solutions and services to their customers. With the establishment of the Hydrogen Energy Center of Excellence, Hydrogen Systems is committed to the localization and development of hydrogen energy and decarbonization solutions to meet the growing demand in the region.
Hala AlObaidallah
https://gceaf2022.sched.com/speaker/hala_alobaidallah.24ehr0zh
Dr. Zeid M. Al-Ghareeb
https://gceaf2022.sched.com/speaker/dr_zeid_m_al_ghareeb.24eil1jt
https://www.advent.energy/2022/10/04/ministry-of-energy-of-saudi-arabia-and-hydrogen-systems-inc-representatives-visit-advent-technologies-global-hq/
No flashy PR's but still waters can run deep....
Reddit u/jjgrey05 ADN DD update as of 09/25/22
https://www.reddit.com/r/AdventTechnologies/comments/xnuclq/adn_dd_updated_092522/
Biden-Harris Administration Announces Historic $7 Billion Funding Opportunity To Jump-Start America’s Clean Hydrogen Economy
DOE Office of Energy Efficiency and Renewable Energy sent this bulletin at 09/22/2022 05:50 PM EDT
https://content.govdelivery.com/accounts/USEERE/bulletins/32e7092
The U.S. Department of Energy today opened applications for the $7 billion program to create regional clean hydrogen hubs (H2Hubs) across the country, which will form a critical arm of America's future clean energy economy. As part of a larger $8 billion hydrogen hub program funded through President Biden’s Bipartisan Infrastructure Law, the H2Hubs will be a central driver in helping communities across the country benefit from clean energy investments, good-paying jobs, and improved energy security – all while supporting President Biden’s goal of a net-zero carbon economy by 2050.
“These H2Hubs are a once-in-a-generation opportunity to lay the foundation for the clean hydrogen future President Biden is building—one that will lift our economy, protect the planet, and improve our health,” said U.S. Secretary of Energy Jennifer M. Granholm. “With input from America’s brightest scientists, engineers, community organizers, and entrepreneurs, this national hydrogen strategy will help us accelerate the development and deployment of technologies to realize the full potential of clean hydrogen energy for generations to come.”
The H2Hubs will be one of the largest investments in DOE history. Funded by the President’s Bipartisan Infrastructure Law, managed by DOE’s Office of Clean Energy Demonstrations with support from the Office of Energy Efficiency and Renewable Energy, they are a critical component of the Administration’s commitment to invest in America’s workforce, jumpstart local economic growth, and create good-paying, union jobs as we build a clean energy economy, improve energy security, and tackle climate change. Addressing environmental justice and engaging local communities, particularly historically disadvantaged and underserved communities that have disproportionately borne the brunt of past energy practices, are fundamental priorities of DOE’s approach to developing H2Hubs.
For this initial funding opportunity launch, DOE is aiming to select six to ten hubs for a combined total of up to $7 billion in federal funding. Concept papers are due by November 7, 2022, and full applications are due by April 7, 2023. Additional funding opportunities may follow to accelerate and expand the network of clean hydrogen projects.
As part of the Department’s commitment to accelerating the national deployment of clean hydrogen fuel, DOE also released a draft of the National Clean Hydrogen Strategy and Roadmap for public feedback. The Roadmap provides a comprehensive overview of the potential for hydrogen production, transport, storage, and use in the United States and outlines how clean hydrogen can contribute to national decarbonization and economic development goals. A final version of the strategy and roadmap will be released in the coming months and updated at least every three years.
US-based Advent Technologies to consider local manufacturing in the (Middle East) region
Sowmya Sundar, Zawya Projects
September 21, 2022
https://www.zawya.com/en/projects/industry/us-based-advent-technologies-to-consider-local-manufacturing-in-the-region-nlcb8cc7
US-based Advent Technologies could consider local manufacturing opportunities in the Middle East for fuel cells and electrolysers as volumes scale, the company said in an emailed statement to Zawya.
Last week the company announced that it had made its foray into the Saudi market for fuel cell and hydrogen products, its first in the region.
“As volumes scale Advent will always consider local manufacturing, ideally with local partners that can license the technology. The region has a strategic advantage for renewable power and hydrogen production, and for forward looking investment. Therefore, we want to forge the right partnerships with major corporations that can leverage our technology for local solutions and their global expansion,” the company said.
A spokesperson said the company is considering a variety of projects in stationary power from very small to large scale in the region.
She said from a cost perspective, Advent’s HT-PEM technology is already on par with technologies established for decades as its multi fuel capability results in the best Capex and Opex cost.
The Nasdaq-listed Advent is targeting a revenue of $300 million by 2025 and currently has plans for production in the US, Western Europe and Greece. Over the next six years it plans to scale up its manufacturing capacity for electrolysers to 1.5 GW and for fuel cells to 120 MW in Western Macedonia, Greece and has received €782.1 million in funding for research and development and production of fuel cells and electrolysers.
The company reported a 122 percent year-on-year increase in revenues to $2.2 million for second quarter 2022.
I wonder how many diesel generators will be replaced in 3 years?
BOS radio network
Germany's nationwide BOS network is the largest TETRA network in the world.
There are more than 950,000 registered subscribers in the BOS network.
Facts and figures
The network covers 99.2 % of the German territory
It handles around 47,000,000 group calls / month
The average network availability is 99.97 %
There are 4,790 base stations in operation.
https://www.securelandcommunications.com/customerstories/bos-digital-radio-network-in-germany
Energy crisis in Europe is no joke:
At 1.1 billion euros the subsidies of electricity bills for October
LAST UPDATE: 11.13
By Haris Fludopoulos
The Minister of Environment and Energy Kostas Skrekas announced the subsidies for the month of October, which amount to a total of 1.1 billion euros, of which 1 billion comes from the excess revenue recovery mechanism and 100 million from the budget.
More specifically, for October, 3 subsidy scales are introduced for all benefits without income criteria, regardless of provider:
For consumptions up to 500 kilowatt hours per month, 90% of the increase is absorbed with a subsidy of 436 euros per megawatt hour. This scale concerns 90% of households
For consumptions from 501 to 1000 kilowatt hours , 80% of the increase is absorbed with a subsidy of 386 euros per megawatt hour. However, if a household reduces consumption by 15% compared to last year, then the subsidy increases by 50 euros per megawatt-hour
For consumptions of 1000 kilowatt hours and above , 70% of the increase is absorbed with a subsidy of 336 euros per megawatt hour . It concerns only 2% of households. Here too an additional subsidy of 50 euros per megawatt hour applies if there is a 15% reduction in consumption.
For CTO beneficiaries, almost 100% of the increase is covered with a subsidy of 485 euros per megawatt hour.
For business tariffs and non-domestic consumers with a supply of up to 35KVA for the first 2,000 kilowatt hours the subsidy is 398 euros per megawatt hour absorbing 80% of the increase.
For non-domestic consumers with a supply of up to 35KVA and all others exceeding 2,000 kilowatt hours, the subsidy is set at 230 euros per megawatt hour
For farmers, a horizontal subsidy is set at 436 euros per megawatt hour.
Natural gas
For natural gas, DEPA Emporias together with the providers will grant a horizontal subsidy of 90 euros per megawatt hour for all domestic consumers. The subsidy applies to all consumption and absorbs more than 50% of the increase. The measure concerns 700 thousand consumers.
For professional and industrial consumers the subsidy will amount to 40 euros per thermal megawatt hour.
Finally, the government establishes a special fee of 10 euros per thermal megawatt-hour to power generation companies for the quantities of gas used in power generation.
The revenue from the special fee will be used:
- To support vulnerable consumers
- To support investments in alternative fuels
- To support modifications to infrastructure for the import of gas from third sources other than Russia.
In detail, Mr. Skrekas stated:
"The international energy crisis, which decisively affects the whole of Europe and is fueled by the Russian invasion of Ukraine, continues and creates suffocating situations in many European states.
The European Union decided, albeit belatedly, to take initiatives to jointly address the problem without tangible results so far. Many countries, even the most powerful ones, such as Germany, warn their citizens of excessively high energy bills and mandatory interruptions in their supply.
In these extremely difficult circumstances, Greece anticipated and from the first moment has taken measures, absorbing the largest percentage of the increase and keeping the bills at affordable levels, supporting households, professionals and farmers. We created the permanent mechanism to recover the excess revenues that we collect from the electricity companies and which has already paid off in just 2.5 months, over 2 billion euros.
This year, a record number of imported LNG cargoes arriving at Revythoussa has been recorded, as the number of ships calling at the terminal has almost doubled.
We will all fight together in the coming winter months to meet the challenge of the energy war that is unfolding across Europe and inevitably affects us.
With these data, the government has set three goals for the next period:
Firstly, to continue supporting citizens by ensuring affordable energy prices for households,
Secondly, to use every possibility to have energy sufficiency throughout the winter and
Third, to strengthen the effort to save energy.
From today, all citizens can enter the website of the Ministry of Environment and Energy, https://ypen.gov.gr/ and find 23 suggestions and ideas for saving energy.
As a continuation of this savings policy, from October 1 , especially for households, we are introducing a new scaled subsidy model on electricity bills.
Specifically:
Electricity - Subsidy on Household Bills
We are creating for the month of October, three subsidy scales for domestic consumers.
The subsidy applies to all main and non-main residence benefits, without income criteria and regardless of provider.
The scaled subsidy for October is structured as follows:
* For monthly consumptions up to 500 KWh we absorb 90% of the increase, with the subsidy reaching €436/MWh. It concerns 90% of households in Greece.
* For monthly consumption from 501-1000kWh we absorb 80% of the increase, with a subsidy of €386/MWh. However, if a household reduces its average daily consumption by 15% compared to last year, then the subsidy increases by €50/MWh.
* For monthly consumption over 1001KWh, we absorb 70% of the increase and the subsidy amounts to €336/MWh. It concerns only 2% of households in Greece. And on this scale, the additional subsidy of €50/MWh applies, if there is a 15% reduction in consumption.
* In the households that are included in the Social Household Tariff (COT) we absorb, as every month, almost 100% of the increase and the subsidy amounts to €485/MWh.
Electricity - Subsidy in Commercial Tariffs
Specifically:
* For non-domestic consumers with a power supply of up to 35KVa, the subsidy for the first 2,000KWh in the month of October amounts to €398/MWh. We absorb 80% of the increase.
* For non-domestic consumers up to 35KVa that exceed 2,000KWh as well as all other low-medium and high-voltage non-domestic tariffs, the subsidy amounts to €230/MWh
* For farmers, the subsidy is horizontal and amounts to €436/MWh.
The total amount of the electricity subsidy for households and businesses in October amounts to 1.1 billion euros. Of these, 1 billion EUR 100 million comes from the recovery of the surplus revenues of the power generation companies and the revenues from pollutant auctions and the 100 million from the state budget.
Natural Gas - Subsidy on Domestic Bills - Households
DEPA Emporias, in collaboration with the other providers, will provide a horizontal subsidy that will amount to €90 per thermal MWh for all residential consumers, and for the entire monthly consumption, absorbing more than 50% of the increase. The measure concerns 700,000 household consumers regardless of income, size of residence or provider.
Natural Gas - Subsidy on Non-Household Bills
The Natural Gas subsidy from the Government to all Commercial Consumers and Industry, regardless of size, turnover and number of employees , for October, will reach €40 per thermal MWh.
The Government continues to implement the policy of shielding consumers from the extremely adverse effects of the energy war that Russia has declared in Europe. In order to deal with the consequences of the energy war, to support our vulnerable fellow citizens and for the energy shield of our country, we are introducing a fee of 10 euros per thermal mwh that will be imposed on the electricity companies for the quantities of natural gas used exclusively for the production of electricity energy.
The revenue from the special fee will be directed to the energy transition fund and will aim to:
a) Support vulnerable households and small and medium-sized enterprises to cope with increased natural gas prices
b) Support investments in alternative fuels, such as biomethane and green hydrogen
c) Support gas system infrastructure modifications and expansions necessary to replace Russian natural gas and enhance the possibility of imports from other sources
https://www-capital-gr.translate.goog/oikonomia/3659398/sto-1-1-dis-euro-oi-epidotiseis-ton-logariasmon-reumatos-gia-ton-oktobrio?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Advent Technologies signs Supply Agreement with the German State of Brandenburg for Fuel Cell Systems
POSTED ON SEPTEMBER 19, 2022 BY ADVENT TECHNOLOGIES
https://www.advent.energy/2022/09/19/advent-technologies-signs-supply-agreement-with-the-german-state-of-brandenburg-for-fuel-cell-systems/
BOSTON–(BUSINESS WIRE)– 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 announce the signing of a three-year agreement with the German State of Brandenburg for the supply of methanol-powered fuel cell systems, which will be installed in select critical communication sites in the region.
Advent’s methanol-powered fuel cell systems will be used as a back-up power source for Brandenburg’s BOS digital radio network, replacing the diesel-driven emergency power systems at several sites over the next three years. Germany’s old public safety and security infrastructure relied on an outdated analogue radio system for communication. BOS is a digital, encrypted, and secure means of communication. The new BOS network allows first responders and other public safety officials to communicate easily and securely. The BOS network now covers 99.2% of German territory.
Advent’s solution was selected as part of a tender launched by the German State of Brandenburg, which requested that fuel cell and hydrogen technology companies submit proposals for sustainable and reliable emergency power supply solutions. Prior to Advent’s selection, the performance of the Company’s methanol-powered fuel cells was tested at a site of the BOS digital radio network in Brandenburg, providing further proof of concept for the use of HT-PEM fuel cells as an efficient back-up power source for critical infrastructure applications. Advent’s methanol-powered fuel cells deliver reliable power in an environmentally friendly way – reducing CO2 emissions and operating silently – while having a low impact on the surroundings. Methanol, as a carrier of hydrogen, allows simpler storage than pure hydrogen and enhances the safety of operations.
“We are thrilled that the German State of Brandenburg endorses Advent’s products for Brandenburg’s critical communication needs and are confident that Advent’s methanol-powered fuel cell systems will ensure the seamless operation of the entire BOS digital radio network in the region. This new partnership marks a major step towards the wider adoption of HT-PEM fuel cells as a back-up power source in critical infrastructure applications across Europe. We look forward to joining similar projects in the near future,” stated Advent Technologies GmbH Senior Vice President, Daniel Hennig.
“The Advent team is proud and excited to start this new collaboration with the German State of Brandenburg. Now, more than ever, the world needs zero-emission back-up power solutions to ensure a clean and uninterrupted energy supply. Today’s agreement is another testament on how Advent’s methanol-powered fuel cells can play a major role in supporting critical infrastructure power requirements around the globe. We look forward to a long and successful collaboration with our new partner,” added Dr. Vasilis Gregoriou, Advent Technologies Chief Executive Officer and Executive Chairman of the Board.
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.
Bold financial support for the development of the hydrogen economy in the EU, the Commission is launching, with the establishment of a European Hydrogen Bank, which will support the implementation of investments of 3 billion euros in this new sector.
The announcement was made by the President of the Commission, Ursula von der Leyen, in her recent speech on the State of the Union in 2022, pointing out that the Bank's mission will be to contribute to the provision of guarantees for the hydrogen market, making particular use of the resources of the Innovation Fund . "Hydrogen must be transformed from a segment of the market it currently occupies into a mass market," he noted.
In addition to contributing to the reduction of pollutant emissions, at the given moment the E.U. looks forward to strengthening the position of hydrogen in the energy mix, for the further reduction of gas imports and, consequently, shielding the Energy security of the "Old Continent"
In this context, the President of the Commission recalled the goal set through the REPowerEU project, so that by 2030 the European Union will produce 10 million tons of renewable hydrogen annually. By then, Europe will also have increased its imports of the "green" fuel by 10 million tonnes, accelerating the phase-out of natural gas from activities that are difficult to electrify, such as heavy vehicles.
Brussels believes that the Bank will act as a catalyst in this direction, being a market facilitator, so as to cover the investment gap and ensure the matching between future supply and demand. "Hydrogen needs to be transformed from a market segment where it is today to a mass market," Ms Laien pointed out.
Ambitious "green" targets
The announcement was welcomed by Hydrogen Europe, underlining through its head, Giorgos Hatzimarkakis, that the Bank is the appropriate instrument to achieve a balance between supply and demand for fuel.
According to Hydrogen Europe, the European hydrogen economy will also be boosted by the new Renewable Energy Sources Directive (REDII), also voted last week by the European Parliament, which sets ambitious and binding targets for renewable energy sources , as well as the simplification of the corresponding regulatory framework.
Parliament has committed the total contribution of renewable energy to 45% of the total energy mix by 2030, so that renewable fuels of non-biological origin (RFNBO) make up at least 5.7% of all fuels by 2030, including 1 .2% in the shipping sector. Also, 50% of industry by 2030 will have switched to the use of "green" hydrogen, a percentage that will increase to 70% by 2035.
https://energypress-gr.translate.goog/news/komision-eyropaiki-trapeza-ydrogonoy-gia-ependyseis-3-dis-eyro-othisi-stin-epiteyxi-ton-stohon?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
That is huge news. A lot of discussions over the last few months with Greece and Saudi Arabia. I'm glad ADN is apart of the conversation now.
"market, sell, distribute, install and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Simultaneously, Advent and Hydrogen Systems intend to collaborate and explore potential large-scale development opportunities for hydrogen fuel cell power applications across the region."
Hydrogen Systems
who we are
Hydrogen Systems is a Saudi Arabia based company dedicated to delivering the most comprehensive and cost effective hydrogen gas solutions to its customers in the greater GCC region. Hydrogen Systems was founded in 2009 and has grown steadily over the last 10 years by providing valuable solutions and services to their customers. Hydrogen Systems employs a skilled staff of over 50 people that provide full engineering support, project management, hydrogen safety consulting, manufacturing and technical service.
Hydrogen Systems has engineered and delivered 23 projects utilizing 50 PEM technology based hydrogen solutions over the last 10 years. The projects served industrial markets with applications in power plants, semiconductor research, petrochemical, HVAC and Gas Chromatography. The Hydrogen Systems team was involved in a partnership with suppliers, EPC companies, contractors and the end customer in order to guarantee a successful outcome with a full turnkey approach.
Hydrogen Systems looks forward to using its well established infrastructure in the region and years of experience to participate in the growing demand for Green Hydrogen solutions as the region looks to transition its reliance on fossil fuel export to leveraging the ability for the region to produce the lowest electricity pricing in the world and converting it into the cleanest fuel source available.
https://www.h2systems.sa/about/
Advent Technologies: Generating Positive Alpha In Uncertain Times
Sep. 15, 2022 8:58 AM ET Advent Technologies Holdings, Inc. (ADN)
Summary
Green HiPo market opportunity brings significant revenue growth in the next 6 years as the green energy transition gains steam.
Advent announced many new market opportunities and collaborations as the company continues to engage the market with its new generation hydrogen technology.
The company is making progress with the technology assessment with Hyundai, while the second global automaker could bring positive surprises in the near term.
Management shared an ambitious 2025 revenue target that will drive significant growth during the period.
My base case target price is $11.50, implying 280% potential upside from current levels.
Liqiud H2 Hydrogen renewable energy in vessel - LH2 hydrogen gas for clean sea transportation on container ship with composite cryotank for cryogenic gases
There are lots going on for Advent Technologies (NASDAQ:ADN) in the past few months given the rapid pace of adoption for hydrogen and the increasing need for it for energy resilience especially in Europe and the United States.
Investment thesis
I have previously written articles on Advent that elaborate more on the company's business model and technology. The investment case for Advent is becoming increasingly compelling in my view and are detailed below:
With the recent notification that Advent will be receiving a significant amount of funding in relation to its Green HiPo project, this funding shows the confidence that the Greece and the EU has in Advent's ability to execute and its hydrogen technology.
Advent's partnership with Hyundai is moving on to the next phase while it is in technology assessment with a second global automaker. Furthermore, there are ongoing discussions with global conglomerates that act as further catalyst for the stock.
Management has set an ambitious revenue target for 2025, with strong growth in mind as it leverages on the huge and rapidly growing market opportunity in the hydrogen space.
Green HiPo update
As highlighted in my earlier article, Advent received notification of Euro 782 million for the IPCEI Green HiPo project, which shows the confidence that Greece and the EU has in Advent's technology and ability to deliver.
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Management gave some estimates as to what opportunity the Green HiPo project could bring. In the 6 years for the Green HiPo project, the company expects revenues from both electrolysers and fuel cells. Based on an assumption of 0.35% of market share of the 400 GW of capacity by 2030, this translates to Euro 350 million in revenue opportunity for Advent during the next 6 years. Furthermore, assuming a 0.07% market share of the 170 GW expected by 2030, the fuel cell revenues generated from the project is expected to be $205 million during the next 6 years.
New opportunities and collaborations
The most recent collaboration announced was a Memorandum of Understanding ("MoU") signed with the New York State Energy Research and Development Authority, along with 60 other clean hydrogen partners. The consortium will collaborate towards the goal of enabling Northeast states in the United States to become one of the 4 planned regional clean hydrogen hubs in the United States. This will include states like New York, Massachusetts and Maine.
This consortium of partners will provide a foundation for a proposal involving a total funding opportunity of $8 billion available. The partners in the consortium include leaders in their own industries, OEMs of hydrogen technologies and even non-profit organisations and universities (The list can be found here).
Among some of the goals of the consortium, the main goal is for the consortium to come up with a plan for the hydrogen hub that would result in lower emissions, while producing clean and safe hydrogen energy and providing energy resilience, and eventually meet the individual states goals of net-zero carbon emissions.
As a result of its focus on green hydrogen, it is crucial for the plan to integrate renewable energy like wind and solar for the production of hydrogen. Also, it is expected that the eventual clean hydrogen be used for a variety of use cases like in heavy duty vehicles and power generation, amongst others.
For Advent, I think that this collaboration could bring greater awareness to the company, especially in the United States, and prove that its hydrogen technology can help decarbonisation efforts globally to reduce reliance on fossil fuels.
Another MoU signed was with Dannar, a company that is leading in production and batteries and storage systems, with an emphasis on mobile power. The partnership aims to help Dannar utilise Advent's fuel cell technology to transform its mobile charging stations into one that has zero emissions.
I think that this will demonstrate the application of Advent's next generation Membrane Electrode Assembly ("MEA"), which is currently under development within the framework of L'Innovator, to capture more market share in the power generation and mobility markets.
As Dannar has been known for producing mobile power stations for first responder teams, Dannar's recognition and partnership with Advent to utilise clean energy brings additional evidence that Advent holds a leading position in the hydrogen technology and fuel cell market.
Next, Advent announced that they have signed a MoU with DEPA Commercial. This MoU signed with Greece's leading pipeline gas and LNG importer seeks to collaborate on the production of green hydrogen as a fuel and to create a hub for the promotion of hydrogen technologies. This collaboration could help to diversify the energy mix in Greece and increase the energy security in the country to reduce reliance on natural gas, which we now know makes the country vulnerable to the external environment.
Technology assessment with global automakers and discussions with global conglomerates
As elaborated in my earlier article, Advent has previously announced that Hyundai was one of the global automotive manufacturers that has been going through the technology assessment phase with Advent. Based on the agreement, Hyundai hopes to use Advent's next-gen MEA technology to decarbonize sectors with high carbon footprint.
As Advent has stated in the second quarter results, the technology assessment with Hyundai has completed the first phase and in the following phase, the two companies will be determining the appropriate milestones and targets as well as requirements for products that should be achieved.
In the investor day presentation, management also stated that other than this current partnership with Hyundai and a second global automaker, they continue to be in discussions with global conglomerates. The opportunity in these discussions are huge and span a wide range of sectors from aviation to marine.
Clear plans for 2022 & 2023, and an ambitious 2025 target
During Advent's investor day, the company's CEO explained the company's near term strategy. In 2022, the focus is on engaging the market. With the announcement of availability of its next-gen MEAs earlier in the year, management has been focused on gaining traction and improving awareness of this next-gen MEA. As a result, the company managed to enter into technology assessment with Hyundai and another large global automotive manufacturer. On top of that, it signed multiple MoUs and also received notification of Euro 782 million funding for the HiPo project.
For 2023 and beyond, the priority will then be shifted towards the next phase of growth. Firstly, the company will be scaling up capacity in its markets in North America, Europe and Greece. Second, the company will commercialize its next generation MEA that it jointly developed with the US Department of Energy and aims to bring in more partnerships with regards to the new technology. Next, the company will focus on bringing in more joint development and collaborations with large global players as the market becomes more confident in the value add that Advent's hydrogen technology can bring and potentially new strategic transactions as well.
In addition, I think this is the first time Advent is communicating a 2025 revenue target of $500 million. Given that Advent has only generated $7 million revenues in 2021, $23 million revenues expected in 2022, and will see significant ramp up in the years to come, this ambitious revenue target signals management's intentions to grow rapidly as hydrogen adoption ramps up. This translates to a 20x growth in revenues from 2022 by 2025 if achieved. While not guaranteed, there is currently a pipeline of projects highlighted above to make this happen, and would imply that management is rather confident in one of its large automotive OEMs in technology assessment to convert to an actual sales agreement, in my view. Also, other ways to achieve this revenue target comes from targeting the stationary power market, mobility market, and importantly, the opportunity from green HiPo from fuel cells and electrolyzers.
Valuation
Although the global macroeconomic situation seems to be rather uncertain at the moment, I think that Advent could be one stock that could generate positive alpha given the potential catalysts that may materialize.
For my valuation model for Advent, I have used a base case scenario and an optimistic upside scenario for the company given the fluid nature of the upside Advent could capture in the years to come. Given that management has a target for 2025, I assume an 80% chance of that materializing and assume 2.4 GW of capacity and EBITDA margin of 21% by 2025. Furthermore, I lower my 2025F EBITDA multiple of 19x to 15x to reflect the multiple contraction we are seeing today.
As such, my base case target price is $11.50, implying 280% potential upside from current levels. I think that the base case is skewed toward a more conservative estimate and the stock could see further upside from this base case.
In my optimistic upside scenario, this assumes that management is able to meet its 2025 revenue target and focuses on the 1,300 GW of TAM in 2040 and assumed 20% EBITDA margins. Again, my 2025F multiples are lowered from 38x to 30x to reflect the multiple contraction we are seeing today. After discounting this to present value, my optimistic upside target price is $21.10. This implies an upside opportunity of approximately 600% if the optimistic upside scenario materializes.
Risks
Operational and execution risks
Advent is a relatively young and early stage company, with rapid scaling needed from now until 2025 needed if it were to meet its 2025 targets. As a result, there are execution risks that we need to be wary of. Is the management capable to scale up operations efficiently and according to the timeline specified? Are there are risks that their operational targets and timelines may fall short? These are questions that we need to ask as Advent needs to give investors confidence in their ability to execute.
Shortfall in funding
Although I do think that the company has sufficient cash for the next 12 months as the management has stated in the 2Q22 call and due to the significant funding that comes from the HiPo project notification recently, there are definitely still risks that the company may run out of cash it needs for its operations or to scale up. Further out after the next 12 months, should the operating environment turn for the worse or if capital and liquidity in the market dries up, this could increase the risk that Advent is unable to raise capital when it requires it. As such, this is a risk that needs to be monitored over time as the company expands and scales up its operations.
Concentration risks
As a relatively small company with minimal revenues due to its early stage, the 2 large global automotive companies that it announced were in the technology assessment phase are material to its business. If either one of them does not materialize or if they end up being an actual customer, this could bring significant downside and upside to Advent respectively. As such, due to the large nature of these two customers, they form some sort of concentration risk where the news flow from these 2 potential customers may drastically affect share price and sentiment.
Conclusion
Advent is seeing the stars align as it sees a huge opportunity from the Green HiPo project over the 6 year period, continued progress with its partnership with Hyundai and further upside from the second global automaker it is collaborating with along with other discussions with global conglomerates. Furthermore, the management has communicated a rather aggressive growth plan to achieve its 2025 revenue targets, which could bring a huge upside if materialized. As such, my base case target price is $11.50, implying 280% potential upside from current levels, and if things go really well for the company, there is further upside in the optimistic upside scenario. Given the potential for positive catalysts in the near term, Advent could be one stock that is able to generate positive alpha in an uncertain macroeconomic environment.
https://seekingalpha.com/article/4541161-advent-technologies-positive-alpha-uncertain-times
Advent Technologies signs MoU with Saudi based Company, Hydrogen Systems, Inc. to Distribute Fuel Cells and Hydrogen Products in the Middle East
09/15/2022
https://ir.advent.energy/news/news-details/2022/Advent-Technologies-signs-MoU-with-Saudi-based-Company-Hydrogen-Systems-Inc.-to-Distribute-Fuel-Cells-and-Hydrogen-Products-in-the-Middle-East/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced it has signed a Memorandum of Understanding (“MoU”) with Hydrogen Systems, Inc. (“Hydrogen Systems”), a hydrogen energy solutions company based in Riyadh, Saudi Arabia, to provide integrated hydrogen solutions and value-added support to industrial and renewable energy markets in the Middle East.
Under the MoU, Hydrogen Systems aims to utilize a vast number of existing relationships in the telecom and hydrogen energy marketplace in the Kingdom of Saudi Arabia, and elsewhere throughout the Middle East to market, sell, distribute, install and service Advent’s full line of high-temperature proton exchange membrane (“HT-PEM”) fuel cells and hydrogen production products. Simultaneously, Advent and Hydrogen Systems intend to collaborate and explore potential large-scale development opportunities for hydrogen fuel cell power applications across the region.
Advent’s family of products, including the Serene and M-ZERØ®fuel cell systems, realize a significant carbon advantage over conventional diesel remote power generation technology. HT-PEM fuel cells can operate with a range of low or zero-carbon hydrogen fuels and enable more efficient heat management. Such fuel cells can produce power in extreme ambient temperatures (from -40°C to up to +55°C) and conditions such as high air pollution and low humidity, resulting in a longer lifetime and lower total cost of ownership.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, stated, “We look forward to a successful partnership with Hydrogen Systems to support the effort in the Middle East to decarbonize faster by adopting hydrogen and HT-PEM fuel cells to replace conventional and polluting energy sources. Hydrogen Systems’ industry knowledge and reach provide an advantage in bringing disruptive, emerging fuel cell solutions to a mature application.”
Sattam Alsuwailem, Chief Executive Officer of Hydrogen Systems, added: “We are excited to have Advent as our new industry partner and truly believe that this new collaboration can play a vital role in speeding up the Middle East’s transition to clean energy technologies. All of us at Hydrogen Systems are connected through a shared mission to continue providing our customers with the most reliable, efficient, and cost-effective hydrogen solutions. We look forward to further strengthening this mission by bringing Advent’s highly differentiated technology to the Middle East market.”
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, conferring the virtues of a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
About Hydrogen Systems, Inc.
Hydrogen Systems is a Saudi Arabia based company dedicated to delivering the most comprehensive and cost-effective hydrogen gas solutions to its customers in the greater GCC region. Hydrogen Systems was founded in 2009 and has grown steadily over the last 10 years by providing valuable solutions and services to their customers. With the establishment of the Hydrogen Energy Center of Excellence, Hydrogen Systems is committed to the localization and development of hydrogen energy and decarbonization solutions to meet the growing demand in the region.
The first official announcement of the establishment of a technology company in Western Macedonia
Advert Technologies starts operating in the region by June 2023
By Sokratis Moutidis – sokmoutidis@gmail.com
The investment of 782 million euros in Western Macedonia and the creation of 650 jobs over a seven-year horizon was announced from Kozani by the CEO of Advent Technologies, Vassilis Grigoriou. Mr. Grigoriou, in a joint press conference with the Regional Governor of Western Macedonia, said that in the first half of 2023 the "IPCEI Green HiPo" project, which concerns the creation of a unit for the development and design of the construction of high-temperature fuel cells for the production of "green" hydrogen as in traffic (cars, ships, etc.) as well as in the production of electricity.
Mr. Grigoriou admitted that in Greece there are strong doubts about "green" hydrogen while in the rest of the world these have been overcome. "The technological strength of the company and the research and development department, found in time that "green" hydrogen is the future. We hope that those who will produce energy through this technology, because we make the equipment for it, will manage to remove these doubts" he said characteristically and added that the financing of the project by the European Commission came about after organized preparation and will play a key role in changing the country's energy mix.
"This effort does not concern only Western Macedonia and Greece, but the whole world. Developing the technology to manufacture this equipment is a difficult task. We will do our best to successfully complete the project because we already have this momentum" added, among others, the CEO of Advent Technologies.
As for jobs, these will be apart from scientific staff and technical staff in assembly departments. "We have outlined the jobs that will be required and can be combined with the know-how that exists in the region," said the company's Corporate Development Director Nora Vougdoupi. She, speaking about Green HiPo, said that this is an important project of common European interest in which the company aspires to produce fuel cell systems with a total capacity of 120 MW during the first six years and electrolysis units with a capacity of 1.2 GW. According to her, in addition to the vehicle sector where hydrogen can be used, the units to be built here will also be able to produce energy and therefore support the district heating system.
Regarding the location of the investment, Mr. Grigoriou refrained from announcing the exact location, stressing that they are already in negotiations for large areas that will be required to build the infrastructure. As he said, a covered space of at least 30,000 square meters is required. "It is clear that it will be set up in Western Macedonia. The growth of the industry is rapid and we will be here as producers of state-of-the-art systems. We always try to be open-minded and open-minded. Be sure that we will do something very important here," Mr. Grigoriou emphasized.
For his part, the Regional Governor of Western Macedonia, Giorgos Kasapidis, emphasized that with this project, the region will be closer to its goal of getting rid of fossil fuels. "At the moment, most of Advert's products are not produced in Greece because the know-how does not exist in our country. With the establishment of the company here, this know-how comes to Western Macedonia and creates developments. Soon we will have other announcements of companies that want to settle here and I am announcing to you that actions are being taken for an automotive industry of heavy hydrogen-powered vehicles to come here" added Mr. Kasapidis.
Advert 's profile
Advent Technologies Holdings, Inc. is a US-owned company that develops, manufactures and assembles complete next-generation fuel cell systems and critical components for fuel cells in the renewable energy sector. It is headquartered in Boston, with offices in California, Greece, Denmark, Germany and the Philippines.
For the past sixteen years, it has been developing key materials, components and processes innovative in the energy sector. Its goal is to advance the development and manufacture of advanced materials, components and next-generation fuel cell technology for the production of "green" hydrogen. He currently holds more than 190 patents and has longstanding partnerships with the US Department of Energy (DoE), Los Alamos National Laboratory, and Brookhaven National Laboratory.
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Advent Technologies Holdings wants to contribute to cleantech sector in a 'substantial way'
Posted Sep 9, 2022
Proactive
49K subscribers
Dr Vasilis Gregoriou, Chairman and Chief Executive Officer of Advent Technologies Holdings, Inc. (NASDAQ:ADN), joined Proactive to provide an overview of the business.
The company has invented and is commercialising a fuel cell technology that creates clean energy with 'very little to zero emissions'.
"We have very good technology in green hydrogen as well. We want to be a major company and contribute [to the sector] in a substantial way," Gregoriou told Chris Rhodes.
State aid: Commission approves Greek scheme under Recovery and Resilience Facility to support development of electricity storage facilities
5 September 2022, Brussels
https://ec.europa.eu/commission/presscorner/detail/en/ip_22_4582
The European Commission has approved, under EU State aid rules, a Greek measure with an estimated budget of €341 million to support the construction and operation of storage facilities in the electricity system. The measure will be partly funded by the Recovery and Resilience Facility (‘RRF'), following the Commission's positive assessment of the Greek Recovery and Resilience Plan and its adoption by the Council. The measure aims at allowing a smooth integration in the Greek electricity system of an increasing share of renewable energy coming from wind and solar sources. The scheme will also contribute to the EU's strategic objectives relating to the EU Green Deal.
Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “Increasing available electricity storage capacity in the system is key to make grids more flexible and better prepared for a future in which renewables form the backbone of the decarbonised electricity mix. The Greek aid measure we have approved today, which will be partly funded by the Recovery and Resilience Facility, will contribute to the development of competitive markets for electricity system services, while helping Greece meet its emission reduction targets.”
The Greek scheme
The scheme notified by Greece will promote the establishment of several electricity storage facilities, with a joint capacity of up to 900 MW, connected to the high-voltage network. The projects will be selected through a transparent and non-discriminatory bidding process. The award of the contracts to the selected projects should take place before the end of 2023 and the storage facilities should be completed by the end of 2025.
The aid will be granted, cumulatively, in the form of: (i) an investment grant, which will be paid during the construction phase of all supported projects; and (ii) an annual support to be paid during the operations phase of the projects, for a 10-year period.
The total amount of annual support per beneficiary will be determined in a competitive tender and adjusted through a claw-back mechanism in case the project has excess market revenues from its participation to the market during the operations phase.
The Commission assessed the measure under EU State aid rules, in particular Article 107(3)(c) of the Treaty on the Functioning of the European Union, which enables EU countries to support the development of certain economic activities subject to certain conditions, and the Guidelines on State aid for climate, environmental protection and energy 2022.
The Commission found that the aid is necessary and has an incentive effect, as the electricity storage projects would not be carried out without the public support. Furthermore, the measure is proportionate, as the level of the aid corresponds to the effective financing needs and necessary safeguards limiting the aid to the minimum will be in place, including a competitive bidding process for awarding the aid and an adjustment of the annual support by means of a claw-back mechanism in case of excess market revenues. The Commission therefore concluded that the positive effects of the measure outweigh any potential distortion of competition and trade brought about by the support. On this basis, the Commission approved the measure under EU State aid rules.
Background
Electricity storage solutions, such as batteries, allow excess energy generated during periods of high renewable production to be stored and used later when weather conditions are less favourable. The share of renewable electricity in the mix is expected to rise considerably over the coming years, which is in line with the emission reduction targets. Therefore, batteries, along with other types of electricity storage facilities, are going to become an increasingly indispensable component of decarbonised electricity systems.
Thanks to their high flexibility and the ability to enter the market and begin producing at full output almost instantly, electricity storage facilities enhance market liquidity, support competitiveness and transparent price formation, and contribute to a reduction in the prices of system services as they stabilize the grid. Storage facilities installed in congested network areas could also provide network congestion relief, by absorbing locally produced renewable electricity, which would otherwise be curtailed due to the network's transmission constraints.
The Guidelines on State aid for climate, environmental protection and energy 2022 provide guidance on how the Commission will assess the compatibility of environmental protection, including climate protection, and energy aid measures which are subject to the notification requirement under Article 107(3), point (c), of the Treaty.
The new guidelines, applicable as from January 2022, create a flexible, fit-for-purpose enabling framework to help Member States provide the necessary support to reach the Green Deal objectives in a targeted and cost-effective manner. The rules involve an alignment with the important EU's objectives and targets set out in the European Green Deal and with other recent regulatory changes in the energy and environmental areas and will cater for the increased importance of climate protection. They include sections on energy efficiency measures, aid for clean mobility, infrastructure, circular economy, pollution reduction, protection and restoration of biodiversity, as well as measures to ensure security of energy supply, subject to certain conditions.
The Commission assesses measures entailing State aid contained in the national recovery plans presented in the context of the RRF as a matter of priority and has provided guidance and support to Member States in the preparatory phases of the national plans, to facilitate the rapid deployment of the RRF.
The non-confidential version of the decision will be made available under the case number SA.64736 in the State aid register on the Commission's competition website once any confidentiality issues have been resolved.
Time to blow up the electricity markets:
The EU electricity sector is a good example of what market fundamentalism has done to electricity networks around the world. With the end of cheap gas, consumers and businesses are paying the price for their governments' adoption of a lousy theory.
Yanis Varoufakis
04 September 2022 07:27
The blades of the wind turbines on the mountain range opposite my window are turning with particular vigor today. Last night's storm has subsided, but strong winds continue, contributing extra kilowatts to the power grid at exactly zero additional cost (or marginal cost, in economist parlance). But people struggling to make ends meet during a dire cost-of-living crisis must pay for those kilowatts as if they were generated by the more expensive liquefied natural gas being shipped to Greece's shores from Texas. This absurdity, which dominates beyond Greece and Europe, must end.
The absurdity stems from the delusion that states can simulate a competitive, and therefore efficient, electricity market. Because only one power cord enters our homes or businesses, leaving things to the market would lead to a perfect monopoly – an outcome that no one wants. But governments decided they could simulate a competitive market to replace the public utilities that generate and distribute electricity. They can not.
The electricity sector of the European Unionis a good example of what market fundamentalism has done to electricity grids around the world. The EU forced its member states to separate the electricity grid from the power stations and privatize the power stations to create new companies, which would compete with each other to supply electricity to a new company that owns the network. That company, in turn, would lease its cables to other companies that would buy the electricity wholesale and compete with each other for retail sales to homes and businesses. Competition between producers would minimize the wholesale price,
Alas, none of this could work in theory, let alone in practice.
The simulated market had to deal with two problems: the political directive to ensure a minimum amount of electricity in the grid at any time and to prioritize the channeling of investments into green energy. The solution proposed by market fundamentalists was twofold: create another market, for greenhouse gas emission permits, and introduce marginal cost pricing, which meant that the wholesale price per kilowatt would have to be equal to that of the most expensive kilowatt.
The emissions permit market was intended to encourage electricity producers to switch to less polluting fuels. Unlike a fixed carbon tax, the cost of emitting a ton of carbon dioxide would be variable and determined by the market. In theory, the more industry relied on fossil fuels such as lignite, the greater the demand for EU-issued emission permits. This would drive up their price, increasing the incentive to switch to natural gas and ultimately to renewable energy sources.
Marginal cost pricing was intended to ensure a minimum level of electricity supply, preventing low-cost producers from underselling higher-cost producers. The prices would give low-cost producers enough profits and reason to invest in cheaper, less polluting sources of energy.
To see what the regulators had in mind, think of a hydroelectric plant and a lignite. The fixed cost of building the hydroelectric plant is high, but the marginal cost is zero: once the water turns its turbine, the next kilowatt the plant produces costs nothing. In contrast, the lignite power station is much cheaper to build, but the marginal cost is positive, reflecting the fixed amount of expensive lignite per kilowatt produced.
By setting prices so that the price of a kilowatt produced hydroelectrically was no less than the marginal cost of producing a kilowatt using lignite, the EU wanted to reward the hydro company with a huge profit which, regulators hoped, would was invested in additional energy from renewable sources. Meanwhile, the lignite-fired power station would make almost no profit (as the price would almost cover its marginal cost) and rising costs for the permits it needed to buy to pollute.
But reality was less forgiving than theory. As the pandemic wreaked havoc on global supply chains, the price of natural gasincreased, before tripling after Russia's invasion of Ukraine. Suddenly, the most polluting fuel (lignite) was not the most expensive (natural gas), thus encouraging more long-term investment in fossil fuels and LNG infrastructure. Marginal cost pricing helped power companies extract huge revenue from outraged retail consumers, who realized they were paying far more than the average cost of electricity. It is no surprise that people, seeing no benefit – to them or to the environment – ??from blades spinning over their heads and spoiling their landscape, turned against wind turbines.
The rise in natural gas prices has exposed the endemic failures that occur when a simulated market is attached to a natural monopoly. We've seen it all: How easy it was for producers to find each other and agree on the wholesale price. How their profiteering, especially in renewable energy, turned citizens against the green transition. How the market simulation regime prevented joint procurement that would lower poorer countries' energy costs. How the retail electricity market turned into a casino with companies speculating on future electricity prices, profiting in good times and demanding government bailouts when their bets didn't pan out.
The time has come to abolish simulated electricity markets. Instead, what we need are public energy networks in which electricity prices represent average cost plus a small surcharge. We need a carbon tax, the revenue of which should compensate the poorest citizens. We need a large-scale investment like the Manhattan Project in the green technologies of the future (like green hydrogen and large-scale offshore floating wind farms). And finally, we need municipal local networks of existing renewable energy sources (solar, wind and batteries) that will turn communities into owners, managers and beneficiaries of the energy they need.
https://www-news247-gr.translate.goog/gnomes/gianhs-varoyfakhs/ora-na-anatinaxoyme-tis-agores-ilektrikis-energeias.9744425.html?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Interesting take on a company's CEO in 2020
James J. Moore, Jr. CEO of Atlantic Power in 2020 CC predicted the future of California
Q and A section Atlantic Power Corporation (AT) CEO Jim Moore On Q3 2020 Results - Earnings Call Transcript
Nelson Ng:
Okay. Thanks. My next question is more big picture as well, given the likely Biden government. Just big picture on what you think the impact is? I guess, we're not sure how much of his climate change policies he can push through, which includes carbon neutrality for the power sector in 2035. Obviously, you have some gas-fired facilities, and I guess, one coal facility, but what's your take on that, Jim?
Jim Moore:
Yes. Well, I think two areas. One is on taxes. And I think a lot of that will be determined by the Georgia outcome, if it's 50 one way then I think they'll get some taxes rolling. If it's more than that, probably not, but I'm no better at political prognostication than anybody else.
I think the more likely thing to happen and where they don't need the Senate is on the power side. I expect Biden will put us back into Paris [Climate Agreement] and he'll ban fracking on federal lands, which might actually be a supply enhancement for oil and gas stocks, you might see prices go up; as always, there’s these unintended consequences.
So it's really hard to predict what's going to come out of Washington and what are the real impacts. I don't see any immediate big upsides or downsides to anything coming out of Washington in any of the remaining scenarios. I do expect Biden would use executive orders to do things on EPA, Paris and fracking. None of that should have a huge impact on us.
I mean, I think like 2035, carbon neutrality, and this, the Green New Deal I mean, those things are just fairy tales. It's never going to happen, physically can't happen. It's just not, the math doesn't work. And there's a number of good -- Bill Gates has been looking at this. And his argument is, if you buy the conventional wisdom, which is catastrophic climate change near term or not even near term, reasonable term, you’ve got to be doing nuclear. I think he’s going to write a book on that.
And when you start digging into these things and looking at the numbers, it's very difficult to manage CO2 with wind and solar. With the current technologies, it’s not great. It's not good on costs, despite the headlines you see in the levelized cost of energy analysis. As you see, you know, when we get high levels of penetration in a jurisdiction, we get high prices. New England has high prices. California has high prices. There's a good book out by a guy named I think it's Michael Shellenberger called Apocalypse Never, who's an environmentalist. And I consider myself an environmental steward – I moved to Vermont in 2001, and started a wind energy company up. I've been on the board of a solar company. I’m happy to buy into wind and solar if the prices make sense for us.
But in terms of public policies, these things that politicians are throwing out, they’re fairy tales. And now what can happen is, before the math and the physics intrude, you'll get price spikes I think, and then as a holder of assets, that's going to be good for us. I think you're seeing in California, people are starting to wake up to the fact that you need a heck of a lot more wind and solar than CCGT natural gas plants to balance a grid and make it reliable. And if you're going to pour more demand on through EVs, then you're going to have to have more electricity. So EVs would be terrific for this company and for all electric providers. But some of these things the politicians say are just -- they're not really -- they're kind of liberal arts analysis. They're not STEM analysis. And if I think if you really dig into it, it's just not going to happen that way.
And now, having said that, at the margins, people trying to do things that are ultimately not feasible in the timeframe they're laying out, can have a material impact on our business. I think it's been a headwind for us for 10 or 20 years now. You know, wind and solar early on when I shifted our company up in Vermont in 2001 to wind, you had terrific returns, and people were skeptical about the technology. And now we've hit the other end of the spectrum, where the returns are really modest to poor, and the public opinion and the conventional wisdom is all over it. So the pendulum has swung completely to the other side. And frankly, the conventional wisdom and the political wisdom, they're not looking at the environmental impact, and they're not looking at the efficacy of wind and solar on CO2.
But I don't expect that to happen. Politicians don't do deep dives and analyze math and physics and economics and compare one detriment to the environment to another detriment to the environment. They just pick things that are popular. So I think, whichever way it comes out, we're pretty well balanced. We have hydro, so if things like the New York policies continue to roll out, there's likely to be higher prices and they benefit our hydro facilities. If things like California get more widespread and people realize the limits of the current battery technology, lithium ion, and start realizing they need to have more reliable, more cost-effective ways to balance the grid, then CCGT comes back into the frame and we have plenty of that. And then biomass has its own kind of attributes.
So that's a longer answer. But I think both on the tax side and on the energy policy side, we're fairly well balanced. And we don't see a big impact on the business either way. There wasn't the last four years and there probably won't be the next four years.
Rupert Merer:
Hi. Good morning, everyone. Jim, you mentioned that we could be at the bottom of the cycle in commodity and power markets. And you talked about some of the challenges of running a grid on renewable energy. In the near term, if you have some challenges re-contracting some of your assets with capacity, what would your sense be? Should you sit on those and wait? And does the market come back to these assets in a couple of years? Or looking out into the future, have you looked at things like hydrogen, for example, and converting your combustion turbines to burning hydrogen, whether it's green or blue hydrogen? Can you just give some thoughts on where you think that the market is going to head for some of these assets in the future?
Jim Moore:
Yes. So you always compare what could I sell the assets for today versus what's the likely re-contracting scenario on the assets. We like our positions at Curtis Palmer, which is obviously hydro, and we like our position at Frederickson, which is gas. I think at a kind of higher level, again, I think when people really dig into these things like is happening in California now, and you look at cost benefit and not just cost of one thing and benefits of the other, and you look at the efficacy on the environmental side and the damage done on the environmental side when you're building new stuff and releasing a lot of CO2, I think it starts to shift at some point. But I wouldn't, you know, the old Keynes thing -- I wouldn’t bet on it happening near term.
So we don't have any view that the markets are suddenly going to rationalize. Our view is, it's a long slog, and that you're going to get more growth from wind and solar than you are from gas. And that public policies generally, if sporadically, will favor more wind and solar. And I think the work that people like Gates are doing to kind of point out that the efficacy there is not at all high, and you really need to look at things like nuclear. That's going to take a while to play out. So the problem you have is when you sell off assets, you sell them off based on today's price curve. And we're not big on predicting price curves and generally people in the commodity business are overly optimistic about prices, fundamental prices versus cost curves.
I would say, my guess is the best use of the assets will be, as people realize the limits of wind and solar and batteries, lithium-ion batteries with four or five hour durations as we're starting to see in California, that things will start to normalize. Now in California -- maybe they double down on more of the same until you get a larger problem. And then maybe they'll pivot. I think that'll be one of the last states that kind of pivots towards reality in the near term. What we really need is better technology in wind and solar and batteries. And I'm afraid this rent-seeking regime we've set up as I understand it has lowered the amount of R&D going into those things. So we don't have any kind of rosy scenario, things are going pop back on gas.
I do think even now, even today in California, even from a year or so ago, we're starting to see more appreciation of the math and the physics and the economics on the ground. And you're seeing it not only kind of in a broad macro, although specialist kind of places. It hasn't intruded into the broader discussion yet, but you're seeing it on the ground. So I think it's not fanciful to think that gas is going to start to catch up a better bid here in terms of output sales. And certainly Oxnard has improved over last year, or the prospects for Oxnard. I think the outlook for Frederickson and Curtis Palmer are improving as well. And they were probably already good. So we do feel like we have reached a bit of an inflection point.
In terms of hydrogen, well, Joe Cofelice has spent more time on that than I have. So, he can talk more thoughtfully than I can. Joe, do you want to weigh in on prospects for hydrogen as an option?
Joe Cofelice:
Sure, sure. Thanks. Yes. I guess the central issue is, when will hydrogen be cost-effective? That's always the question with these things. And is it really a commercial option that would be there for us in the timeframe that we're looking at? And right now, we're not seeing that. I mean, there are a number of different potential applications and structures using hydrogen. One that's bandied about is, we're going to take essentially worthless wind and solar power that we created by overbuilding wind and solar. And we're going to use that power to manufacture hydrogen. And then we're going to take that hydrogen and we're going to store it. And then we're going to inject it into storage and take it out of storage, and then we're going to convert gas turbines to run on them.
There's a significant amount of capital costs from the wind and the solar all the way through on that. So I think that the struggle with hydrogen is -- I think it's going to be a while before we find a path forward with hydrogen that's cost-effective. And so, we monitor it. We actually were looking at it recently in the Calstock area as an option. And it's just -- a lot of these things are all three to five years out. You can spend some time getting ready for them. But there's nothing on the horizon that we're seeing right now that would actually help us with the plants that we have that are either up for re-contracting soon or mothballed. And we have to keep in mind too, that the plants that we have that are mothballed right now are in Ontario, and they're in Northern Ontario. And the biggest problem we have is our location there. We're in the north of the province. We're not in an area of great demand. And so the plants aren't well situated obviously to serve Toronto. And that's one of the struggles we face.
Jim Moore:
Yes. Just to reiterate a point. We're very agnostic on these technologies. And we're very agnostic on public policies. I mean, if you want to do the ”drill baby drill,” that's good for our gas plants. If you want to do Green New Deal, that's good for our hydro plants. If you have a highly -- if you believe the climate is highly sensitive to CO2 and the outputs of that are going to be catastrophic in a reasonable timeframe, then I think Gates and those people are right that we really need to focus on nuclear urgently and wind and solar are not helpful. Gates doesn't say that. He would say, yes, decarbonisation is good, but he would say that it's not nearly enough. I think James Hansen, who was with NASA, and one of the big people early on who talked about CO2, has said the same thing.
We're agnostic. We're in the business to make money. We're not here for any agendas. Like I say, I went to Vermont in 2001, and converted an IPP company into an all-wind strategy. I was on the board of a commercial solar developer in New Jersey. I think our favorite asset class today is hydro. Because if you think about the Venn diagram between the outcomes, I think it is more reliable than things like wind and solar. And it's a price taker. So that if gas prices go up, that's good for it. If you start to ban fracking and reduce supply, you're going to increase prices, so that would be good for us.
So we're just in this to make money for the shareholders. And I sold a wind business twice in 2005 and in 2008.We had a big pipeline, and I was an early adopter of the wind strategy. And if I thought we could make a ton of money on lithium-ion batteries, we’d jump on it. I think, what usually happens is people who ride the green waves and the most popular things, they end up destroying a lot of capital over time. We saw that with those clean energy tech funds back 15 years or so ago now. If you look at the actual performance of wind and solar plants, their P90 type outcomes and things like that, it's been a tough slog for cash investors on the wind side for the most part. If you're a tax investor, it's been much better.
So we have a view that the kind of high level, political level analysis of what actually works, and what the economics are and what the math and the physics are really don't follow some of the political views on either side. I mean, though -- the last four years, they focused on subsidies for coal and nuclear, that makes no sense to me, right? And saying you're going to decarbonize by 2035 is equally nonsensical. But people feel like, oh, well, we're at least going in the right direction. But you're not. You're not having a material impact. So that's a public policy thing. I think most people don't weigh in on these issues. It's better to kind of go along with the crowd.
But the problem is, if you invest with the crowd, you will often end up with poor results. And so we're not doing anything based on any kind of political agenda or trying to teach the world a better way to do anything. We're just looking at the facts on the ground. And if we can make really attractive returns picking up wind projects from cash investors that turned out to have poor flip points, post their 2001 to 2015 investments, we're going to jump on that. We -- in fact, we're talking with some investors right now about looking at things like that. I've looked at getting a solar commercial developer. We're open to all of that.
It's just driven by how can we make money for the shareholders, not by any kind of macro level views. We take our views with a grain of salt. We've got a great deal of epistemological humility around here. Because when I started the wind company in 2001, I handed out a book on peak oil and said, hey, this is a real thing. And there was a goat herder immigrant’s son down in The Woodlands, Texas, George Mitchell, who showed that we were all wrong about that, or all the consensus was wrong about that. So we're very bashful about betting on our ability to forecast any of these things, and we just kind of swing at the pitches that come across the plate.
https://seekingalpha.com/article/4387716-atlantic-power-corporation-ceo-jim-moore-on-q3-2020-results-earnings-call-transcript
Great Due Diligence on Advent at the following Reddit link https://www.reddit.com/r/AdventTechnologies/comments/wmrzcm/adn_dd_updated_081222/
1st QRT revenues $1,800,000
2nd QRT revenues $2,225,000
3rd and 4th QRT predicted the latter end of revenues at $23 million, plus $5 million reimbursement of Hood Park facility operational November 2022.
Burn rate is $11 million a QRT = $22 million for 3rd and 4th QRT
$1 MILLION profit so far based on those numbers
plus Green HiPo $35.8 million revenues (grant)
plus $5 million reimbursement from Hood Park
What we don't know is, what the burn rate will be when they apply the funds to building out the Greece location? That is why they received the grant money in the first place!
Add 1.8 million + 2.2 million + 23 million + 35.8 million = $62,850,000 million revenues for 2022
plus reimbursement of $5 million or more
Nothing like being the lead innovative company solving a worldwide energy crisis to raise a Shareprice 1%, I think if they supply hydrogen energy to other planets that might get the SP to all time highs, they are sending astronauts back to the moon this decade.
Advent Technologies Among the Key Partners to Co-Sign Multi-State Memorandum of Understanding for a US Northeast Clean Hydrogen Hub
08/31/2022
BOSTON--(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 that it has co-signed a Memorandum of Understanding ("MoU") with the New York State Energy Research and Development Authority ("NYSERDA") and more than 60 clean hydrogen ecosystem partners.
Under the MoU, the parties will collaborate to develop 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, included in the bipartisan Infrastructure Investment and Jobs Act.
The coalition of six States (Connecticut, Massachusetts, Maine, New Jersey, New York, and Rhode Island), along with more than 60 clean hydrogen ecosystem partners, are laying the groundwork for a proposal for the United States Department of Energy funding opportunity anticipated to be announced in September or October 2022, with up to $8 billion in total funding available.
After the initial announcement in March 2022, New York has continued to add strategic partners that now include 14 private sector industry leaders, 12 utilities, 20 hydrogen technology original equipment manufacturers (OEMs), 10 universities, seven non-profit organizations, five other States, two transportation companies, and, three State agencies.
New partners include:
Advent Technologies
Air Liquide
Ambient Fuels
Amogy, Inc.
Avangrid, Inc.
Charbone Hydrogen Corporation
Connecticut Green Bank
Constellation Energy Generation, LLC
Edgewise Energy
EDP Renewables North America
Equinor
Eversource Energy Co.
General Electric
H2/HPA Sonics
Holcim US
Hyzon Motors Inc.
Infinity Fuel Cell and Hydrogen, Inc.
Linde
National Fuel Gas Distribution Corporation
Nel Hydrogen
NECEC (Northeast Clean Energy Council and NECEC Institute)
New Jersey Clean Cities Coalition
Northville Industries Corp.
NovoHydrogen, Inc.
Ørsted
Pratt & Whitney
Precision Combustion, Inc.
Rensselaer Polytechnic Institute
Rhode Island Energy
Siena College
Skyre, Inc.
Peaks Renewables and Summit Utilities, Inc.
University of Connecticut
Consortium partners have committed to collaborate with the NYSERDA, New York Power Authority, and Empire State Development for the development of the proposal to advance clean hydrogen projects. At the same time, partnering States will also coordinate with their respective State entities to help align the consortium's efforts with each State's climate and clean energy goals, such as Massachusetts goal of reaching net-zero carbon emissions by 2050.
With the execution of these agreements, the partners will work together to:
Define the shared vision and plans for the regional clean hydrogen hub that can advance safe, clean hydrogen energy innovation and investment and address climate change while improving the health, resiliency, and economic development of the region's residents.
Advance a hydrogen hub proposal that makes climate and environmental concerns central to its strategy, which will deliver opportunities and improve the quality of life for under-resourced areas in the region.
Perform research and analysis necessary to support the hydrogen hub proposal and to quantify the reduction of greenhouse gas emissions resulting from this project.
Develop a framework to ensure the ecosystem for innovation, production, infrastructure, and related workforce development is shared across all partner States.
Support environmentally responsible opportunities to develop clean hydrogen in accordance with the participating States' policies.
The coalition will continue to focus on the integration of renewables - such as onshore and offshore wind, hydropower, and solar PV - and nuclear power into clean hydrogen production and the evaluation of clean hydrogen for use in transportation, including for medium and heavy-duty vehicles, heavy industry, power generation applications, and other appropriate uses consistent with decarbonization efforts.
Dr. Vasilis Gregoriou, Chairman and Chief Executive Officer of Advent Technologies, stated, "we are excited to join this major industrial partnership at a time of significant momentum for America's transition to clean energy technologies. All of us at Advent embrace the belief that the world can decarbonize faster by adopting hydrogen and fuel cells to replace conventional and polluting energy sources that use fossil fuels. We look forward to a successful collaboration with the consortium partners, as well as the New York State Energy Research and Development Authority, New York Power Authority, and Empire State Development."
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, conferring the virtues of 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.
https://ir.advent.energy/news/news-details/2022/Advent-Technologies-Among-the-Key-Partners-to-Co-Sign-Multi-State-Memorandum-of-Understanding-for-a-US-Northeast-Clean-Hydrogen-Hub/default.aspx
The aim of HT-PEM fuel cells is to fulfill the promise of “Any Fuel. Anywhere.” They can allow ships to run on renewable methanol or ammonia, airplanes to run on dimethyl ether (DME) or hydrogen, and off-grid power generators to work with any green fuel that is easily transportable to remote locations. The ability to use any hydrogen-carrying fuel, in addition to pure hydrogen, is a major breakthrough in reducing the required infrastructure investments.
Dr. Emory De Castro, Advent’s Chief Technology Officer, commented: “The developing world is where the battle of climate change will be won or lost, and a low-cost infrastructure is a must. Synthetic eFuels will be produced by green hydrogen in the near future and thus be sustainable in such applications. HT-PEM technology allows for hydrogen fuel flexibility, while the competition is currently limited to very pure hydrogen that is compressed at 700bar. By forging this partnership, we are taking yet another step closer to realizing our clean energy future.”
The signed CRADA formalizes Advent’s role in this program, structures the joint development, and defines milestones and investment required to accelerate the technology scale-up. It also leverages state-of-the-art research facilities and talent at the DOE’s LANL, BNL, and NREL sites, as well as Advent’s expertise in fabricating polymers, membranes, catalysts, and electrodes. The effort encompasses scaling up the critical components of this next-generation membrane assembly: BNL catalysts, LANL membrane, electrode binder, and membrane electrode assembly (MEA) architecture. Advent’s scientists and engineers will work side by side with the primary inventors to facilitate rapid process development.
“We are honored and excited to work with the best electrochemists in the world from the LANL, BNL, and NREL in developing the next standard of fuel cell technology,” said Dr. Vasilis Gregoriou, Advent’s Chief Executive Officer and Founder. “The mandate from the aerospace, marine, and heavy-duty automotive industry is clear: they want to move to high-temperature fuel cell technology, and we believe that we will be able to provide the best product at the best price. Our recent NASDAQ listing and round of fundraising will allow us to make this agreement the top priority of our product development effort. We expect to commercialize the technology in 2021, bring products to the market in early 2022, and scale it up at mass production in 2023.”
HT-PEM fuel cell technology will allow heavy-duty and other hard-to-decarbonize applications to operate with high efficiency while using hydrogen and mitigating water management problems. The LANL MEA that Advent will commercialize is based on a novel chemistry. It does not rely on water as the conducting medium but instead on an engineering plastic, thus allowing for a wider range and high-temperatures for reliable operation (80oC to 240oC). The technology developers expect that overall fuel cell system design will be simplified drastically, resulting in reduced system costs. Early results indicate a longer lifetime even compared to Advent’s current commercial products. In addition, the agreement with BNL will focus on commercializing ultra-low platinum electrode technology that can bring the platinum/kilowatts (kW) required number down 90% (a 10x improvement). Platinum is an essential precious metal that is used in mobility fuel cells, and the BNL technology has the potential to reduce costs along with supply chain and environmental problems. NREL will aid in developing manufacturing processes for these advanced materials.
Regional Hydrogen Hubs Grow Ahead of Federal Funding Opportunities
Two New England states recently joined the northeastern regional hydrogen hub coalition, adding to the expanding list of agencies ready to benefit from federally funded projects.
With the addition of Rhode Island and Maine, the New York-led coalition now involves six states. Connecticut, Massachusetts and New Jersey were the first to partner with the New York State Energy Research and Development Authority (NYSERDA), New York Power Authority (NYPA) and Empire State Development on the hub proposal.
NYPA CEO Justin Driscoll said the addition of Maine and Rhode Island would “significantly boost the value” of a Northeast proposal, making the regional hub a “stronger, more multifaceted contender” for the U.S. Department of Energy’s (DOE) Regional Hydrogen Hub $8 billion funding program.
Since the original Northeast coalition in March proposed a hub, more than 20 energy companies and universities have joined the 40 seeking DOE funds. New partners also include Advent Technologies Holdings Inc., Air Liquide SA, EDP Renewables North America, Equinor Wind US, Eversource Energy, General Electric Co., Linde plc, Ørsted A/S, Rensselaer Polytechnic Institute, Rhode Island Energy and University of Connecticut.
“Innovative technologies are showing the potential of green hydrogen as a fossil fuel alternative and the time is right to take a deeper dive into the many opportunities that will reduce greenhouse gas emissions, benefit the workforce and help build a clean energy economy,” Driscoll said.
Each of the states in the coalition plans to reduce greenhouse gas (GHG) emissions by 2050. Connecticut, Maine and New Jersey are targeting an 80% reduction, while New York is aiming for an 85% reduction from a 1990 baseline by 2050. Massachusetts and Rhode Island are aiming for net-zero GHG emissions by 2050, with Rhode Island also targeting 100% renewable electricity by 2023.
NYSERDA said the coalition is expecting to focus on a hydrogen hub that demonstrates the use of renewables, including hydropower, nuclear, solar, onshore and offshore wind generation.
Most of the states already are moving forward with offshore wind projects. Most recently, the Department of Interior requested competitive interest for commercial leasing in the Gulf of Maine.
Offshore Massachusetts and Rhode Island, Ørsted and Eversource are in 50/50 partnerships on the Bay State Wind, Revolution Wind, South Fork and Sunrise Wind projects. Also planned for the coastal waters of Massachusetts is the 2.4 GW Mayflower Wind Energy LLC project. The 50/50 joint venture is between EDP Renewables and Engie SA’s joint venture, Ocean Winds, and Shell plc’s Shell New Energies US LLC.
Ørsted also is partnered with New Jersey’s Public Service Enterprise Gp. on the 1.1 GW Ocean Wind 1 project. In addition, European supermajor Equinor partnered with BP plc on the Beacon and Empire Wind projects in the New York Bight.
The hydrogen hub coalition plans focus on end-use for green hydrogen applications in transportation for medium- and heavy-duty vehicles, as well as industrial and power generation uses.
DOE is expected to offer funding opportunities between September and October. According to NYSERDA, the initial funding could support six-to-10 hubs, with funding allotted in 2023. Each hub proposal could be awarded up to $1.25 billion.
https://www.naturalgasintel.com/regional-hydrogen-hubs-grow-ahead-of-federal-funding-opportunities/
Short Borrow Rate for 2+ months has been over 40%. Anything over 20% is really high. ADN was listed as top 15 for highest short borrow rate at one point. Stocks with a high degree of short interest are more difficult to borrow than a stock with low short interest, as there are fewer shares to borrow.
Borrow fee rates are determined by the market's supply-and-demand conditions. If a stock is in hot demand from short sellers (in other words, it has high short interest), the borrow fees will be proportionately high, based on the supply of available shares.
When you see a stock with a large borrow rate increase, or “special rate” you know the demand for borrow went up, or supply went down. Either way, it means there is vigorous short sale activity in the stock, and the long side is fighting back by not providing shares to the stock borrow market at a normal borrow rates.
06/17/22 64%
06/20/22 118%
06/23/22 278%
06/24/22 252% - 320%
06/27/22 310% - 326%
06/29/22 240% - 252%
06/30/22 202% - 240%
07/01/22 191% - 202%
07/05/22 193% - 228%
07/06/22 144% - 212%
07/07/22 118% - 144%
07/08/22 108% - 118%
07/11/22 89% - 108%
07/12/22 86% - 89%
07/13/22 76% - 86%
07/14/22 – 07/20/22 85%
07/21/22 83% - 85%
07/22/22 66% - 83%
07/25/22 66% - 76%
07/26/22 72% - 76%
07/27/22 – 07/28/22 72%
07/29/22 61% - 70%
08/01/22 61%
08/02/22 61% - 63%
08/03/22 56% - 63%
08/04/22 62%
08/05/22 59% - 62%
08/08/22 61% - 65%
08/09/22 65%
08/10/22 60% – 65%
08/11/22 55% – 60%
08/12/22 53% - 63%
08/15/22 48% - 63%
08/16/22 – 08/18/22 48%
08/19/22 48% - 63%
08/22/22 - 08/23/22 44% - 47%
08/24/22 40% - 47%
https://iborrowdesk.com/report/ADN
https://fintel.io/ss/us/adn
Looks like today 39.3% back up to 43.3%
Advent Technologies Announces the Successful Delivery of Portable Fuel Cell Products to the Hellenic Army
08/17/2022
https://ir.advent.energy/news/news-details/2022/Advent-Technologies-Announces-the-Successful-Delivery-of-Portable-Fuel-Cell-Products-to-the-Hellenic-Army/default.aspx
BOSTON--(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”).
Advent’s fuel celltechnology powersa 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.
UM... check out the dates......
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