Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

KJAX, great news, thanks for posting.

[KJAX]

05/24/23
Exciting News! We're thrilled to announce that Advent has signed an MoU with Siemens Energy, marking the beginning of a groundbreaking collaboration. Together, we'll be working on an integrated fuel cell energy solution that combines Advent's HT-PEM technology with Siemens Energy's expertise in integrated electrification, automation and digital solutions. Our focus? Decarbonizing industries with sustainable power, starting with marine applications and expanding to other industrial applications.

Advent's methanol-powered fuel cell systems will be seamlessly integrated in Siemens Energy’s holistic value proposition for Marine Industry including alternative energy sources like batteries and solar panels, ensuring compliance with environmental regulations. This powerful combination provides the next generation of sustainable power to the maritime industry.

The signing ceremony was attended by key executives from Advent and Siemens Energy, including Dr. Vasilis Gregoriou, Advent's Chairman and CEO, Morten Sørensen, Senior VP of Advent Technologies A/S, Denmark, Søren Kildedal, Technology Solution Director, Marine, of Advent Technologies A/S, Lucretia Loescher, VP Europe & Africa for Industrial Solutions of Siemens Energy, Giuseppe Sachero, VP Industrial Solutions South West Europe of Siemens Energy, Stefan Diezinger, VP Sales Industrial Solutions Europe & Africa of Siemens Energy, Norberto Barlocco, Engineering Director of Siemens Energy, and Markus Wagner, Lead Project Manager for Fuel Cells of Siemens Energy.

Stay tuned for updates as we embark on this exciting journey towards a cleaner, more sustainable future together!
#fuelcells #renewableenergy #cleanenergy #hydrogen #marine #maritimeindustry #maritime

https://www.linkedin.com/feed/update/urn:li:activity:7067186090075426816/

[WeTheMarket]

Source: https://stkt.co/HgPiaXVf

[JoEy D BuLL]

All coil but the burn rate per week is more than the profit on that contract.. this is a pit..

[WeTheMarket]

Advent CEO, Dr. Vasilis Gregroriou, at Delphi Economic Forum VIII.
Posted 4hrs ago.

I agree 100% with everything our esteemed CEO says.

[eom7]

"Advent has been actively working with the Greek State for the timely signing of the contract "


First time I have seen this... let's hope this is a positive development b/c it's the only thing that matters for this stock.

[WeTheMarket]

Advent Technologies Reports Q1 2023 Results
05/15/2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Reports-Q1-2023-Results/default.aspx

Highlights
- Entered into a joint development agreement with Hyundai following the conclusion of a successful technology assessment.
- Collaboration with Siemens Energy for maritime fuel cell solution, integrating combined reformer/fuel cell modules into power supply systems for yachts.
- Opening of the new Hood Park manufacturing facility in Boston, MA, for state-of-the-art development and scale-up production.
- Agreement with BASF to establish end-to-end supply chain for hydrogen fuel cell systems in Europe.
- Working actively with the Greek State for the timely signing of Advent’s Green HiPo project, following official ratification from the European Commission for funding of up to €782.1 million under the Important Projects of Common European Interest (“IPCEI”) Hy2Tech Program.

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 consolidated financial results for the three months ended March 31, 2023. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Q1 2023 Financial Highlights
(All comparisons are to Q1 2022, unless otherwise stated)

- Revenue of $1.0 million and income from grants of $0.5 million, for a total of $1.5 million.
- Operating expenses of $11.6 million, a year-over-year decrease of $1.0 million, as administrative cost reductions implemented throughout 2022 were partially offset by an increase in research and development expenses.
- Net loss in Q1 of $(12.0) million or $(0.23) per share.
- Unrestricted cash reserves were $19.5 million as of March 31, 2023, a decrease of $13.4 million from December 31, 2022, driven by R&D and administrative and selling expenses, as well as annual insurance renewals, a $2.2 million increase in inventory and $1.9 million of capex spending in the first quarter.

“We have further consolidated our operations and continue to develop our state-of-the-art technology, which has resulted in marked progress with joint development agreements and technology assessments. The focus towards the mobility sector and stationary power sector has been endorsed by significant opportunity wins for Advent,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “We shall remain focused on successfully developing innovative fuel cell systems and expanding our collaboration agreements with world-class partners.”

Business Updates

Joint Development Agreement with Hyundai Motor Company (“Hyundai”): On March 22, 2023, Advent and Hyundai announced the conclusion of a successful technology assessment. The assessment evaluated Advent’s proprietary MEA technology for supplying Hyundai’s high-temperature fuel cell needs, and following its success, the two companies entered into a Joint Development Agreement (“JDA”). The JDA solidifies the interest of one of the world leaders in fuel cell technology to further develop the HT-PEM technology in collaboration with Advent. The first step of the JDA focuses on the MEA. Advent’s goal is to provide its MEAs and its HT-PEM fuel cell development expertise to co-develop with automotive manufacturers the next generation of fuel cells for heavy-duty mobility. The HT-PEM fuel cell technology is highly differentiated compared with the current LT-PEM technology because it allows a vehicle to operate with efuels such as eMethanol, biofuels, and low-purity hydrogen. It allows higher impurity in the hydrogen fuel or air intake, each of which are very common and have repeatedly hampered LT-PEM deployments in real-world conditions. HT-PEM fuel cells have built-in resilience, as they do not rely on water for conductivity, therefore eliminating the problems of operating in extreme heat, cold, or humid conditions, and have a higher efficiency as a result of their high-temperature operation which allows for optimized cooling, a critical performance parameter for heavy-duty trucks and aircraft. Based on these advantages, Advent will pursue strategic joint development agreements to achieve its goal of supplying key MEA components and technology to the mobility market.

Maritime Fuel Cell Solution for Superyachts: On February 9, 2023, Advent announced a new maritime collaboration with Siemens Energy, a globally renowned energy technology company, offering sustainable solutions across the entire energy value chain. Advent and Siemens Energy will work together to develop a 50kW–500kW maritime fuel cell solution for a range of superyachts, which will provide a sustainable and reliable source of auxiliary power and offer improved power density. This maritime fuel cell solution is initially expected to be used as a hybrid power source, enabling clean electricity generation instead of using conventional diesel engines and generators for procedures such as anchoring and maneuvering. As part of the agreement, Siemens Energy has placed an initial order for twenty of Advent’s methanol-powered Serene fuel cell systems. Following the completion of this project, the two parties will explore the potential of developing similar solutions for a wider range of business applications beyond maritime, such as industrial power solutions.

Hood Park R&D and Manufacturing Facility: On March 6, 2023, Advent announced that it opened its new R&D and manufacturing facility at Hood Park in Boston, Massachusetts. Less than one month later, on April 3, 2023, Massachusetts Governor Maura Healey, along with other elected officials, esteemed guests and business partners, attended the grand opening celebration. Hood Park will enable Advent to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy sector by including state-of-the-art coating machines to support the seamless transition from prototypes to production runs for advanced membranes and electrodes; a complete analytical facility dedicated to quality control, performance analysis, and improving product lifetime; fuel cell and water electrolysis test stations for statistical process control and development of next-generation MEA materials, and a mechanical engineering lab for developing automated assembly processes for MEAs. One of the products to be manufactured at Hood Park is the Ion Pair™ 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. Advent intends that its proprietary fuel cell products, such as Serene and Honey Badger 50™, will use the Ion Pair™ Advent MEAs beginning in 2024. The Company expects that the introduction of the Ion Pair™ Advent MEA will significantly reduce the cost of our Serene flagship product suite and thus expand the immediately addressable market. Furthermore, the expected system increase in power density and lifetime will highly differentiate Advent’s fuel cells in the heavy-duty mobility industry.

Agreement with BASF: On May 9, 2023, Advent and BASF Environmental Catalyst and Metal Solutions, a global leader in precious metals and catalysis, jointly announced a new agreement to join efforts in building a closed loop component supply chain for fuel cells and enter discussions to extend the partnership into the field of water electrolysis. For 20 years, BASF Environmental Catalyst and Metal Solutions has been a leader in membrane and MEA technology for HT-PEM fuel cells with a strong foundation in precious metal services and catalysis. HT-PEM fuel cells operate at 120 to 180°C, offer a broad operating window and tolerate impurities in the hydrogen fuel source. The fuel cells also enable simplified cooling and need no humidification. Advent offers competitive fuel cell systems for stationary and portable applications based on methanol and on-site reforming. In the future, HT-PEM fuel cells will also be available for heavy duty mobility and maritime power uses. The scope of the agreement includes BASF’s role in scaling up MEA production at Advent’s planned state-of-the-art manufacturing facility in Western Macedonia, Greece, while offering Advent its full portfolio of products and services to enable circularity in key materials. Both companies will cooperate on BASF’s latest membrane development, Celtec®-Z, and the new Ion Pair™ MEA by Advent, aiming for improved performance, lifetime, and cost competitiveness.

Green HiPo Project: On March 29, 2023, Advent announced that its Chairman and CEO, Dr. Vasilis Gregoriou, was elected as the Chair of the IPCEI Hy2Tech Facilitation Group. The election took place at the 1st General Assembly for Hy2Tech and Hy2Use, two of the European Union’s IPCEIs, which aim to promote research, innovation, and the first industrial deployment of hydrogen technology infrastructure in Europe. The General Assembly was held on March 28, 2023, in Berlin, and was attended by executives from companies with projects ratified by the EU under the IPCEI framework, as well as government and EU officials. Advent’s Green HiPo project received a notification in June 2022 for up to €782.1 million in funding from the Greek State, the highest amount of funding received for a project under IPCEI Hy2Tech. The European Union officially ratified the project in July 2022. Green HiPo will be based in the Western Macedonia region of Greece, where a state-of-the-art facility will be established for the R&D and production of innovative fuel cells and electrolyzer systems. Advent has been actively working with the Greek State for the timely signing of the contract.

Dr. Gregoriou concluded, “Advent continues to make significant progress, and with the endorsement of our technology platform and products, we now have a commercial portfolio that will advance throughout 2023 and beyond. We will continue to consolidate our business with a view to maximizing efficiency and effectiveness throughout our global operations, and to focus on core markets and significant projects. The opening of our R&D and manufacturing facility at Hood Park provides an anchor for our operations in North America. The Greek State is progressing with the process for initiating the Green HiPo project, and we will provide an update at the appropriate time. I remain confident in the potential of Advent and our technology, and I am very optimistic that we will continue to increase market share as economies embrace clean energy and decarbonization.”

Conference Call

The Company will host a conference call on Monday, May 15, 2023, at 9:00 AM ET to discuss its results.

To access the call please dial [phone] from the United States, or [phone] from outside the U.S. The conference call I.D. number is 3273042. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through May 29, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, please visit www.advent.energy.

[WeTheMarket]

Posted 4hrs ago.

[WeTheMarket]

Posted 10 days ago.

[WeTheMarket]

Energy Tech Talks Hydrogen 1.0
Mar 1, 2023

Advent's CTO, Dr. Emory De Castro, talks #hydrogen in this second production of Energy Tech Talks. Check out our new video to learn about hydrogen’s key role in the global #energy transformation toward building a decarbonized energy system and achieving climate neutrality.

[WeTheMarket]

Advent Technologies Secures $1.1 Million Contract to Supply its HT-PEM MEAs for Fuel Cell-Powered Trucks in Asia
05/11/2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Secures-1.1-Million-Contract-to-Supply-its-HT-PEM-MEAs-for-Fuel-Cell-Powered-Trucks-in-Asia/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 sectors, is pleased to announce a new contract with a prominent fuel cell manufacturer specializing in truck applications in the East Asian market. Under this contract, Advent will supply High-Temperature Proton Exchange Membrane ("HT-PEM") Membrane Electrode Assemblies ("MEAs") to support the development of advanced fuel cell solutions for trucks.

The contract, signed in the second quarter of 2023 with a combined value of $1.1 Million, comes after a highly successful testing phase of Advent’s proprietary MEA technology conducted by its customer. Starting in the second quarter of 2023, Advent will begin delivering HT-PEM MEAs, with a projected continuation of deliveries in accordance with the customer's specified timeframe.

The use of Advent's MEA technology in fuel cell-powered trucks is a critical and substantial enhancement to EV technology, effectively tackling the challenges associated with charging infrastructure and the limited range of pure EVs.

MEAs are the critical component of fuel cell systems and have a pivotal role in determining the overall performance, durability, efficiency, weight, and cost-effectiveness of the electrochemical products they empower.

Advent's MEAs are designed to operate at high temperatures ranging from 120 °C to 180 °C, and offer a significant advantage to alternative solutions. For example, they enable the utilization of impure hydrogen, which can be generated onboard through the reforming of methanol, eMethanol, natural gas, and various other renewable eFuels.

Advent's electrochemistry components business includes electrodes, membranes, and MEAs. These components are critical for fuel cells, electrolyzers, and long-duration energy storage such as flow batteries.

Advent's Chairman and CEO, Dr. Vasilis Gregoriou, commented, "The global heavy-duty automotive industry has made it clear that they intend to transition to HT-PEM fuel cell technology. Advent is committed to play a significant role in facilitating this transition, and we are excited to continue expanding customer relationships across Asia. Our MEA technology is highly suitable for heavy-duty mobility applications and well-suited to meet the changing demands of the industry. We look forward to further contributing to a sustainable future for heavy-duty transportation applications through the adoption of HT-PEM fuel cell technology."

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

[XenaLives]

Advent institutional ownership.
https://fintel.io/so/us/adn



Institutional Shares (Long) 18,217,566 - 34.44% (ex 13D/G)

[XenaLives]

Historic short interest:

You can go to this link to check short interest in a stock:
http://nasdaqtrader.com/Trader.aspx?id=ShortInterest

Publication schedule is here:
http://nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch

        Settlement Date/Short Interest/Percent Change/       
          Average Daily Share Volume/Days to Cover       
    
        04/28/2023	1,350,183	(33.84)	   310,875	4.34 
        04/14/2023	2,040,792	(21.02)	   657,158	3.11 
        03/31/2023	2,583,859	20.33	 4,353,911	1.00 
        03/15/2023	2,147,222	(2.38)	   305,496	7.03 
        02/28/2023	2,199,679	 3.25	   260,353	8.45 
        02/15/2023	2,130,426	10.81	   365,729	5.83 
        01/31/2023	1,922,592	 4.06	   281,698	6.83 
        01/13/2023	1,847,653	(4.88)	   240,143	7.69 
        12/30/2022	1,942,447	12.42	   404,999	4.80 
        12/15/2022	1,727,866	 7.30	   264,335	6.54 
        11/30/2022	1,610,363	(13.84)	   389,634	4.13 
        11/15/2022	1,869,005	10.16	   641,118	2.92 
        10/31/2022	1,696,681	(0.33)	   673,710	2.52 
        10/14/2022	1,702,277	 0.71	 1,019,136	1.67 
        09/30/2022	1,690,214	34.39	 1,466,521	1.15 
        09/15/2022	1,257,705	 1.43	   742,675	1.69 
        08/31/2022	1,239,918	(9.04)	   541,456	2.29 
        08/15/2022	1,363,175	(21.96)	 1,073,402	1.27 
        07/29/2022	1,746,873      (19.85)	 6,303,479	1.00  
        07/15/2022	2,179,422      (39.79)	 1,327,200	1.64  
        06/30/2022	3,619,764	(7.31)  33,483,408	1.00  
        06/15/2022	3,905,326	(9.94)	   660,717	5.91  
        05/31/2022	4,336,346	(7.10)	 1,027,956	4.22       
        05/13/2022	4,667,710	 1.46	   907,404	5.14     
        04/29/2022	4,600,366	(4.07)	 1,022,544	4.50    
        04/14/2022	4,795,331	  2.48  20,269,266	1.00    
        03/31/2022	4,679,444	17.24	 1,574,888	2.97    
        03/15/2022	3,991,412	(5.83)	   664,298	6.01    
        02/28/2022	4,238,562	(13.57)	   998,748	4.24    
        02/15/2022	4,903,847	 4.63	   335,895	14.60    
        01/31/2022	4,686,922	(2.10)	   531,080	8.83         
        01/14/2022	4,787,227	(3.46)	   267,349	17.91     
        12/31/2021	4,958,767	(2.68)	   403,991	12.27      
        12/15/2021	5,095,296	18.63	   336,459	15.14      
        11/30/2021	4,295,074	(7.76)	   313,238	13.71      
        11/15/2021	4,656,557	 6.87	   268,131	17.37       
        10/29/2021	4,357,085	 3.37	   248,609	17.53       
        10/15/2021	4,214,962	(3.85)	   189,943	22.19       
        09/30/2021	4,383,938	12.14	   406,772	10.78       
        09/15/2021	3,909,300	 1.37	   295,906	13.21       
        08/31/2021	3,856,616	15.61	   268,864	14.34       
        08/13/2021	3,335,970	 3.98	   171,925	19.40        
        07/30/2021	3,208,401	(9.88)	   199,199	16.11        
        07/15/2021	3,560,301	(1.14)	   350,236	10.17        
        06/30/2021	3,601,467	14.39	   710,616	5.07        
        06/15/2021	3,148,311	(7.52)	   264,331	11.91        
        05/28/2021	3,404,331	10.65	   371,002	9.18        
        05/14/2021	3,076,658	(1.88)	   320,563	9.60        
        04/30/2021	3,135,448	(22.22)	   393,433	7.97        
        04/15/2021	4,031,176	 1.19	   308,706	13.06        
        03/31/2021	3,983,604	147.67	 1,119,279	3.56        
        03/15/2021	1,608,410	37.20	   436,676	3.68        
        02/26/2021	1,172,333	10.38	   714,083	1.64        
        02/12/2021	1,062,081	75.87	   983,824	1.08        
        01/29/2021	  603,918	19.53	   901,187	1.00        
        01/15/2021	  505,253	60.15	 1,265,763	1.00        
        12/31/2020	  315,486	14.25	 1,291,599	1.00        
        12/15/2020	  276,132	696.89	 2,329,085	1.00        
        11/30/2020	   34,651	64.44	   385,117	1.00        
        11/13/2020	   21,072	(8.30)	    51,859	1.00        
        10/30/2020	   22,979	14.30	   109,668	1.00        
        10/15/2020	   20,104	332.72	   369,485	1.00        
        09/30/2020	    4,646	114.10	   211,307	1.00        
        09/15/2020	    2,170	136.13	    67,112	1.00

[KJAX]

"Oxygen" of development, green hydrogen: The Greek projects - beacons
The draft National Hydrogen Strategy foresees rich investments and 4,000 jobs by 2030


Lalela Chrysanthopoulou • [e-mail]

Investments 3-4 billion euros by 2030, creation of up to 4,000 jobs and an increase in GDP of up to 1.1 billion. euros per year could be "unlocked" by the development of the "green" hydrogen industry in Greece by 2030. This is foreseen in the draft of the National Strategy for Hydrogen which is expected to be given soon to public consultation and key elements of which are included in the report of the International Energy Agency (IEA) for Greece, which was recently made public. The plan states a target for the development of 750 MW of electrolysis capacity in Greece and the production of 3500 Gigawatt hours of hydrogen using green energy by the end of the decade, which will require the development of RES stations (80% photovoltaic - 20% solar) with a total capacity of 3 GW. If the objectives are achieved,

The creation of a green hydrogen economy with use in transport (heavy vehicles, shipping, aviation), in industry and under conditions in power generation is one of the main axes of the revised National Energy and Climate Plan. Awaiting the new ESEK and the National Strategy for Hydrogen, in the "background" of the increased emphasis that the European Commission places on green hydrogen to achieve its climate goals (which translates, among other things, into financing of hydrogen projects from various "tools" , such as REPower EU, the Innovation Fund and the Connecting Europe Facility among others), significant mobility is already observed in the sector with the gradual maturation of the first pilot projects from the refineries (Motor Oil,

Explaining the government's road map for the development of the hydrogen industry in Greece, the General Secretary of Energy and Mineral Raw Materials of the Ministry of Energy, Alexandra Sdoukou, notes speaking to "N" that "The vision of complete independence from fossil fuels by 2050 cannot to be carried out only with RES and the electrification of the economy, because there are also sectors where this is not technically possible, such as certain sectors of heavy industry, as well as the sectors of heavy road transport, shipping and aviation. In these sectors, decarbonisation will be achieved with "green" hydrogen, i.e. hydrogen produced from RES through electrolysis. The technology to produce hydrogen in this way is already mature, while the research to deal with the technical and economic problems in the fields of hydrogen use is also evolving. It is estimated that the period up to 2030 will be critical for the maturation of hydrogen use technologies in these "difficult to electrify" sectors, while after 2030 the rapid development of hydrogen will manifest itself, roughly as happened with RES. In any case, we recognize the future importance of hydrogen, but also the current state of technology that does not allow us to make hasty decisions. We also expect the manifestation of initiatives at EU level. which will allow the financing of investment projects in the field of hydrogen since the funds that will be required are large. Our priority remains the development of RES (where the technology is mature),

The coordinator of the National Hydrogen Strategy, Konstantinos Papaloukas, for his part, emphasizes that until 2027, the hydrogen market in Greece will be in its infancy, due to uncertainties, lack of infrastructure and high costs. As a catalyst to "go ahead" in this critical phase, state aid will act to implement the first integrated pilot projects/applications (such as the "Hydrogen Valleys") and to create the first critical infrastructures, with the conversion to "hydrogen ready" pipelines in natural gas transmission and distribution networks. These projects will also bring to the surface all the issues that the regulatory authorities will be asked to resolve. The market creation phase is defined as the period 2027-2035, where the main issue will be the creation of economies of scale to reduce the -still high- cost, while during the period 2035-2050- the phase of development and maturation of the market is expected, with the private initiative gaining the first floor, as the cost it will be streamlined, there will be commercial maturity and the infrastructure will support cross-border trade. As key parameters for the development of the renewable hydrogen market, it identifies the – still high – cost of electrolysis devices, the – lowest possible – marginal cost of electricity production, the adequacy of the electricity grid, the availability of water and access to value chains of critical raw materials. as costs will be streamlined, commercial maturity will exist and infrastructure will support cross-border trade. As key parameters for the development of the renewable hydrogen market, it identifies the – still high – cost of electrolysis devices, the – lowest possible – marginal cost of electricity production, the adequacy of the electricity grid, the availability of water and access to value chains of critical raw materials. as costs will be streamlined, commercial maturity will exist and infrastructure will support cross-border trade. As key parameters for the development of the renewable hydrogen market, it identifies the – still high – cost of electrolysis devices, the – lowest possible – marginal cost of electricity production, the adequacy of the electricity grid, the availability of water and access to value chains of critical raw materials.
The Greek projects- "signals"

The most mature projects that have already received funding from the EU under the IPCEI (Projects of Important Common European Interest) "Hydrogen" are the B&T Composites H2CAT project on carbon fiber infrastructure that can be used for transport or storage hydrogen and Advent Technologies' Green HiPo for the construction of an electrolyte and fuel cell production unit for the production of green hydrogen in Western Macedonia. It was followed by the H2CEM project of the cement industry TITAN which will be subsidized with 60 million euros for the production of green hydrogen through electrolysis through RES stations that will be installed in three of the company's factories,

Regarding the projects of the large energy groups, as Spyros Kiartzis, Director of New Technologies and Alternative Energy Sources of Helleniq Energy, told "N", a pilot project for the production of green hydrogen by electrolysis is being planned, with the installation of a 10 MW unit at the Elefsina refinery. The project is intended to be put into operation at the end of 2024, with the prospect of increasing its capacity (scale up) in the second year. The hydrogen that will be produced can either be consumed within the refinery, or transported, feeding hydrogen refueling stations. He adds that the cost of green hydrogen is directly related to the cost of producing renewable electricity and the goal is to set it at as low a level as possible.

From Motor Oil's point of view, the "flagship" of the projects that the group is maturing is Blue Med, which is being developed in phases and is expected to be fully completed by 2027. As the company states in its annual financial statements for 2022, the section under development is concerns the creation of a plant with a 30 MW electrolytic cell system for the production of green hydrogen, the construction of five hydrogen refueling units and the creation of a new fleet of high-pressure tanker trailers, together with the relevant hydrogen compression equipment for the distribution of hydrogen within Greece. Carbon capture and storage infrastructure is under evaluation. The reason for the IRIS project which seeks to combine the production of extremely low-carbon hydrogen and methanol, through carbon capture (CCS).

However, Motor Oil also cooperates with PPC for the development of the green hydrogen industry in Greece through the Hellenic Hydrogen joint venture. From the podium of the Delphi Forum, the General Manager of the company, Dimitris Triantafyllopoulos, spoke of "investments of several million euros for the production of green hydrogen". The joint venture's first project is s-ARTEMIS which involves the development of a 100MW electrolysis plant to produce approximately 11,789 tonnes of renewable hydrogen using wind and solar energy in Amyntaio in Western Macedonia and aspires to be the largest commercial electrolysis cell project in Greece and one of the largest in Europe. It has been submitted for funding under the third call for large-scale projects of the EU Innovation Fund.

Finally, DESFA together with Bulgaria's DESFA Bulgartransgaz are planning two projects to be included in the next wave of IPCEI "Hydrogen". The first concerns the upgrading of the existing infrastructures of the two Operators so that they can transport hydrogen mixed with natural gas. The second - and more ambitious - concerns the construction of a network of pipelines for the transport of pure hydrogen. The Greek section will connect, among other things, Athens with Thessaloniki with one of its legs ending at the Greek-Bulgarian border, while the Bulgarian section will cross the entire country. The purpose of the project is the transport of pure hydrogen mainly from the southern part of Greece, to the point of interconnection with Bulgaria, as well as in the area of ??Kavala where high hydrogen intensity industries and future storage facilities are located.

https://www.prlogos.gr/%CE%BF%CE%BE%CF%85%CE%B3%CF%8C%CE%BD%CE%BF-%CE%B1%CE%BD%CE%AC%CF%80%CF%84%CF%85%CE%BE%CE%B7%CF%82-%CF%84%CE%BF-%CF%80%CF%81%CE%AC%CF%83%CE%B9%CE%BD%CE%BF-%CF%85%CE%B4%CF%81%CE%BF%CE%B3/

[WeTheMarket]

BASF and Advent Technologies sign agreement to establish end-to-end supply chain for hydrogen fuel cell systems in Europe
May 09 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/91001171/basf-and-advent-technologies-sign-agreement-to-est

Summary
- Hydrogen can enable the transformation toward climate neutrality and decrease dependence on fossil fuels
- BASF will expand its hydrogen related portfolio including precious metal services, catalysts, components and recycling by scaling up production of Celtec® MEA (Membrane Electrode Assembly) technology for fuel cells
- Advent will produce fuel cell systems at planned state-of-the art manufacturing facility in Greece under the Green HiPo IPCEI program

BASF Environmental Catalyst and Metal Solutions, a global leader in precious metals and catalysis, and Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology sectors, have concluded the terms of a new agreement to join efforts in building a full loop component supply chain for fuel cells and enter discussions to extend the partnership into the field of water electrolysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230509005722/en/

For 20 years, BASF Environmental Catalyst and Metal Solutions has been a leader in membrane and MEA technology for high temperature proton exchange membrane (HT-PEM) fuel cells with a strong foundation in precious metal services and catalysis. Advent is the largest manufacturer of HT-PEM fuel cell systems targeting emerging markets in the field of sustainable and decentralized energy such as stationary power that can replace diesel generators, marine power from e-methanol fuel cells and heavy-duty mobility.

HT-PEM fuel cells operate at 120 to 180°C, offer a broad operating window and tolerate impurities in the hydrogen fuel gas. The fuel cells also enable simplified cooling and need no humidification. Advent offers competitive fuel cell systems for stationary and portable applications based on methanol and on-site reforming. In the future, HT-PEM fuel cells will be also available for heavy duty mobility and marine power.

“We are committed to building a full loop supply chain for green hydrogen technologies including precious metal services, catalysts, components and recycling. Expanding our longstanding cooperation with Advent enables us both to grow in the HT-PEM fuel cell market and helps position Europe as a leading region for the hydrogen industrial transformation,” said Tim Ingle, Senior Vice President, BASF Environmental Catalyst and Metal Solutions.

The scope of the agreement includes BASF’s role in scaling up MEA production at Advent’s planned state-of-the-art manufacturing facility in Western Macedonia, Greece, while offering Advent its full portfolio of products and services to enable circularity in key materials. Both companies will cooperate on BASF’s latest membrane development, Celtec®-Z, and the new Ion Pair™ MEA membrane concept by Advent, aiming for improved performance, lifetime and cost competitiveness.

Dr. Vasilis Gregoriou, Advent’s Chairman and CEO commented: “The Advent team is thrilled to further strengthen its collaboration with BASF, a world-class catalyst and membrane leader. This partnership will enable the combination of Advent’s expertise in fuel cell stacks and systems with BASF’s expertise in catalyst and membrane development, creating a powerful synergy that will drive innovation in the fuel cell industry.”

Advent’s Green HiPo project involves the development, design and manufacture of HT-PEM fuel cells and electrolyzers. The project is under the framework of the Important Projects of Common European Interest (IPCEI) that is promoting hydrogen development and deployment to boost jobs and growth throughout Europe while contributing to a green and resilience agenda. BASF will support further market uptake of the HT-PEM fuel cells by providing a broad portfolio of services and products at scale, including PGM (Platinum Group Metals) services, catalysts, membranes, and recycling.

Celtec® is a trademark of BASF

About BASF Environmental Catalyst and Metal Solutions

Leveraging its deep expertise as the global leader in catalysis and precious metals, BASF Environmental Catalyst and Metal Solutions (ECMS) serves customers in many industries including automotive, aerospace, indoor air quality, semiconductors and hydrogen economy, and provides full loop services with its precious metals trading and recycling offering. With a focus on circular solutions and sustainability, ECMS is committed to helping our customers create a cleaner, more sustainable world. Protecting our elements of life is our purpose and this inspires us to ever-new solutions.

ECMS operates globally in 15 countries with approximately 20 production sites and over 4,000 employees.

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 Green HiPo

The Green HiPo project involves the development, design, and manufacture of HT-PEM fuel cells and electrolyzers for the production of power and green hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will aid significantly in the region's transition from a coal-based economy to a greener economic model. A new state-of-the-art facility in Western Macedonia will be home to the production of fuel cells and electrolyzers and will contribute to the economic development of the region. This project is under the framework of the Important Projects of Common European Interest (IPCEI).

[XenaLives]

LOL!!! I don't think that a company that is trading at under $.80 on the dollar will balk at selling at $70

[eom7]

Only thing that moves this that matters is $$$$. Company needs to stop selling shares at .$70 to fund the business.

[WeTheMarket]

Advent Technologies Announces Date for First Quarter 2023 Earnings Call
05/08/2023
Company to Report Q1 2023 Results on May 15, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Announces-Date-for-First-Quarter-2023-Earnings-Call/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 that it will release its financial results for the first quarter ended March 31, 2023 on Monday, May 15, 2023 and will host a conference call the same day at 9:00 AM ET to discuss its results.

To access the call please dial [phone] from the United States, or [phone] from outside the U.S. The conference call I.D. number is 3273042. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through May 29, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

[JoEy D BuLL]

have u seen the chart? any pop will be a manipulative play preying on daytraders

[XenaLives]

Further info on this could pop this big time:

Hyundai Motor Company and Advent Technologies Sign Joint Development Agreement Following Successful Fuel Cell Technology Assessment
https://www.otcmarkets.com/stock/ADN/news/story?e&id=2480654

[XenaLives]

I've seen Lincoln Park do right by existing shareholders before. This is good news.

[XenaLives]

Must read post.... Thank you.

[XenaLives]

Where's the link? I can't find anything.

[JoEy D BuLL]

investors are suing these people.

[WeTheMarket]

Repost from Stocktwits board, courtesy of Ijduwa.

[WeTheMarket]

Posted April 21, 2023

[WeTheMarket]

Link to Form S-3, as filed with the Securities and Exchange Commission on April 21, 2023
https://www.sec.gov/Archives/edgar/data/1744494/000182912623002884/adventtech_s3.htm

[WeTheMarket]

Dr. Vassilis Grigoriou (Advent Technologies): At the top of European hydrogen research (pics)
One of the most successful "technoblasts" in Greece, which came out of the research centers of Greek universities, developed into a company listed on the NASDAQ and today leads the research and development of technologies for "green hydrogen" - The big investment for the factory of Kozani
STELIOS MORFIDIS
APRIL 14, 2023
https://www.newmoney.gr/roh/palmos-oikonomias/business-stories/dr-vasilis-grigoriou-advent-technologies-stin-korifi-ton-evropaikon-erevnon-gia-to-idrogono-pics/

On Monday, March 27, at the new state-of-the-art production unit and research center of Advent Technologies in Charleston, Boston, in a festive event, Massachusetts Governor Maura Healy thanked Dr. Vassilis Grigoriou and company executives for the fact that support her government's efforts to create an ecosystem around " green hydrogen " and overall clean energy in anticipation of a major funding programannounced by the US Department of Energy. Seeing it as another link in a chain of innovation being built in a state that has always been friendly to startups, Ms. Healy said she is ready to help Advent Technologies and other businesses keep Massachusetts at the forefront of innovation in an emerging space. like the holy grail of green energy .

A few thousand kilometers away, in Kozani , Dr. Grigoriou , the man who has associated his name with one of the most successful " technoblasts " that came out of the research centers of Greek universities, today evolving into Advent Technologies , a company listed on NASDAQ , has undertaken to build a corresponding factory . And as he explains in " business stories ", he wants to make it essentially the center of European activitiesof the company that was born in Patras, still has a significant presence there, but at the height of the crisis, in 2012 , accepting capital from American venture capital , it made the leap to the USA.

The key to Kozani's investment is the participation of Advent Technologies in the ambitious programs of several billions of the Commission that start with the political decision to ensure at all costs the energy security of Europe through green forms of energy . In fact, Advent Technologies, which currently maintains a structure that employs 50 scientists in Patras , has assumed the coordinating role of the important project of Common European Interest (IPCEI), which aims to promote research, innovation and first industrial deployment (First Industrial Deployment – FID)of hydrogen in Europe, totaling 5.4 billion euros . It should be noted that Advent for its investments and research in its own program, called " Green HiPo ", will receive 782 million euros . And Dr. Grigoriou was just recently elected by the other participants in the program as the chairman of the IPCEI Coordination Group in the first leg, which concerns the Hy2Tech hydrogen technology.

All of the above, as well as an agreement with the automaker Huyndai for Advent Technologies to help with its technology in the development of hydrogen engines for trucks were very good reasons for a discussion with Dr. Grigoriou.
He is in the new infrastructure in Charleston . “When we came here, with our NASDAQ listing, it was very important to me that we have a significant presence in the US. This Center that we built has large infrastructures, state of the art equipment and has been staffed with very good engineers, chemists, etc., where we try to implement a series of achievements of large laboratories in our own technologies. Likewise in Kozaniwith any problems this is what we will pursue ", he emphasizes.

From the outset we ask that the discussion be conducted in as simple terms as possible, since the subject matter that Advent Technologies deals with is already complex for the average citizen who has not studied chemistry.
"When you return to your hometown in Trikala and the group gathers, what do you answer when they ask what you are working on?" we ask him. " That I am making a generator that bypasses diesel generators !" That's my answer," he says.

And he explains: "At the moment, due to a political and not so much a business initiative, the Commission and the European governments come and say "we don't want diesel generators, we want zero pollutants". Nice! How do we get there? We will go through new technologies . The fuel cell technology that we have developed is actually a generator that is like a battery, an electrochemical device. Imagine a battery that charges – discharges. So, in our generator, as long as you put hydrogen into it , which we get in different ways, it produces clean energy , while the by-product is water, steam. So I say to them: "I will get you such a generator that will produce clean energy". Nice? Nice. They understand this! Why the marketisn't it full of them yet since they sound so good? Because now we are building the technology, so these products are slowly being developed. And of course they are expensive . Well today they will be used in areas and applications that the other wants to pay the difference. Either, for example, a business or a government that can subsidize. So we work on such projects, we create the technologies so that the giants of the space can come later and develop them commercially. And no, I am under no illusions, Advent Technologies will not become a giant, it will be a part of the chain that is being created and growing," he tells us.

Despite all this, Advent Technologies has managed to make history in the Greek startup ecosystem as a successful case of "technoblast", which even broke the boundaries in the midst of the worst economic crisis the country has ever known.

"What was it that made the difference and didn't turn into a failed attempt, like most cases?" we ask him.
"I will be honest. First, it is my persistence. I am a persistent person . Normally I should have given up ten times. The company came very close to lockout three times , because these things have sharp and abrupt changes. One day you're up, the next you're down. Secondly, I was very lucky because I had a group of people by my side who we met by chance in Patras and reached high. Some of them, like Nora Gourdoupi , are with me after 20 years! And the third is that this work, in a way, I had seen before.I worked in industry, in research . I worked in Polaroid 's research department in the 90s. What we started then is also the basis for what we have been doing since 2006 when we established the company in Patras, where a few years ago I had returned home from the USA for personal reasons. Now if Polaroid later took the fall because it relied - badly at the time - only on photography, freezing everything new we had made, that's another matter. But these have to do with management decisions. Today it could be a completely different company.

However, this was a lesson for the rest. So we always tried to learn and be insightful. In the case of Advent Technologies, we did everything right to get here today, but also to show others the way. In a way we made… the manual . We got funding from "business Angels" , then venture capitals entered , including an American one in the worst year of the crisis, in 2012, and we made the jump to the USA, where we started after the attempts to enter NASDAQ, and at the same time we constantly expanded the project and the our infrastructure. All this following a vision and a basic plan. Okay… and quite lucky in the sense that at least twice we could have gone unscathed, but in the end we made it.”

Today, the company essentially treads two boats, in the US and in Europe , seeking to take advantage of the moment and the political decision to support the research and development of technologies around " green hydrogen " in different forms.

"In Greece , today, approximately 25% of our potential is located . About fifty people in the structure in Patras and in the offices in Athens for a total of 220. From there we have structures in Germany , Denmark , and of course in America . With the creation of the unit in Kozani, we will try to collect a little bit of those in Europe, but this does not mean that Patras or the other places will be closed. Kozani will be the point of reference, the "umbrella" , he notes.

He does not specify the amount of the investment that will be made for the creation of the Kozani factory. It cites the amount of around 780 million euros that Advent Technologies can draw for its participation in IPCEI. "Everything will happen gradually. We will start with the Research Center and then with production . What I can say is that hundreds of millions of euros will be used for this multifaceted investment and we estimate that 600 highly skilled jobs can be created," he answers.

Something for which, however, collaborations will be sought with other large companies in the field with which there could be synergies.

"Europe wants Greece to be a manufacturing country in the value chain. In my humble opinion, in Greece we have not understood this yet! We only see the tactical part, not the strategic, big picture. We say, now where will we find the money, from which piggy bank. These are all regular conversations. Europe, since there is also a local potential market in Greece due to the connection with the Middle East and the huge potential in RES , has decided that Greece will play a role in hydrogen. There is no going back on this. So why not have a manufacturing base as well? Here there must be full support and a strategy that will take advantage of the momentumthat has been created in Europe", he emphasizes.

"The purpose of the company is to make fuel cells for commercial activities . From 2020 onwards we have tremendous activity in electrolysis as well because I believe a lot in green hydrogen . The war in Ukraine, moreover, has concentrated many forces in this area. Europe wants to be completely independent of Russian fossil fuels by 2027. Well, this is the future of energy. It has already committed to invest 50 billion euros in hydrogen, with the prospect of becoming hundreds. This will activate market forces in the US as well, so rest assured that there will be many developments in this area, which is now entering the center stage along with the whole of RES”.

Today Advent develops two products:
- Electrolysers, i.e. green hydrogen production machines from water and Renewable Energy Sources. These machines will be the clean "oil wells" of the future and can be installed in every country.

- Fuel Cells, i.e. machines that generate electricity and heat. These engines will gradually replace internal combustion engines and diesel generators worldwide.

In fuel cell technology, the company has more than 150 patents and has 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 where it operates. In February 2021, Advent listed on the NASDAQ in New York, successfully raising $158.3 million to implement its business plan.

Dr. Vassilis Grigoriou until recently also held the position of director and chairman of the Board of Directors. at the National Research Foundation (NRF). During his professional career, he has held many research and managerial positions both in Greece and in the USA (Duke University, Princeton, Polaroid, MIT, Northeastern University, Advent).

He is a Doctor of Physical Chemistry (Ph.D) from Duke University. He has been the president of the Society for Applied Spectroscopy (SAS), while he was also the national representative of Greece in the Horizon 2020 Committee for the European Research Council (ERC), the "Marie Sklodowska-Curie" actions and future and emerging technologies (FET).

[WeTheMarket]

Advent Technologies participates in Hannover Messe 2023.



Advent will have a strong presence at the event. Conference attendees can visit its dedicated booth (located at Hall 13, Stand D47/1) and discuss with Advent’s experts its wide range of fuel cell products, and how the company aims to play a leading role in faster decarbonization of the world’s energy needs.

In addition, on April 18, Advent’s CTO Emory De Castro Ph.D, will deliver an insightful interview titled “Powering the Future with Fuel Cells”, in the context the “Hydrogen + Fuel Cells ” Public Forum.

Visit our booth and and learn more about:
- SereneU-5 Fuel Cell System
- SereneS 10kW-15kW
- M-ZERØ™
- Honey Badger 50™
- MEA (Membrane-Electrode-Assembly)

[eom7]

$ADN DD PAGE
Receives Notification of Euro 782.1 Million Funding from the Greek State for IPCEI Green HiPo Project
https://www.advent.energy/2022/06/16/advents-green-hipo-receives-notification-of-euro-782-1-million-funding/

Market Cap
$56,442,574
04/10/2023

Outstanding Shares (not including warrants)
52,261,643
03/31/2023


Advent Technologies' Chairman and CEO, Dr. Vasilis Gregoriou Elected as Chair of EU IPCEI Hy2Tech Group
https://www.otcmarkets.com/stock/ADN/news/story?e&id=2485384


Advent Technologies Reports Q4 2022 Results
• Q4 2022 revenue of $2.0 million and income from grants of $0.4 million.
• Full year 2022 revenue of $7.8 million and income from grants of $1.5 million.
• Net loss in Q4 of $47.6 million or $(0.92) per share, including an impairment charge of $38.9 million. Adjusted net loss in Q4 of $13.2 million or $(0.26) per share.
• Company holds unrestricted cash reserves of $32.9 million as of December 31, 2022.
• After official ratification from the European Commission of the European Union for funding of €782.1 million under the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology for Advent’s Green HiPo project, Advent has been working with the Greek State to establish the mechanism and timing schedule for the funding facility.
• Commissioning of new Hood Park R&D and manufacturing facility in Boston, Massachusetts. This facility will enable Advent to scale-up and deliver on the increasing global demand for its electrochemical products.
https://www.otcmarkets.com/stock/ADN/news/story?e&id=2487480

Hyundai Motor Company and Advent Technologies Sign Joint Development Agreement Following Successful Fuel Cell Technology Assessment
https://www.otcmarkets.com/stock/ADN/news/story?e&id=2480654

[eom7]

EU grant is $800mm. Todays 8k was for the sale of 50mm shares at the company's discretion.

[Nealio]

Is the grant different than the agreement that was posted after you today, the 8-K filing? 2 sources of financing? The grant was for something like 700-800K in financing? Thanks for the info!

[WeTheMarket]

Form 8-k, Entry into a Material Definitive Agreement.
April 10, 2023
https://last10k.com/sec-filings/adn/0001829126-23-002631.htm

[eom7]

Listened to CEO on last call, he still expects the grant in the next few months. I am besting on that with June calls... crazy cheap if they get the grant in April or May. Basically 1 year late.

[Nealio]

So still no financing news? I owned this from 13 to 14.XX a couple yrs ago...sad where it has gone. Still seems promising, if they get transparent about the $$ needed. Will put on a watch...and check chart soon.

[WeTheMarket]

[WeTheMarket]

Advent Technologies hosts Grand Opening of its State-of-the-Art Fuel Cell R&D and Manufacturing Facility in Boston
04/04/2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-hosts-Grand-Opening-of-its-State-of-the-Art-Fuel-Cell-RD-and-Manufacturing-Facility-in-Boston/default.aspx

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”) is pleased to announce that on April 3, 2023, Massachusetts Governor Maura Healey, along with other elected officials, including State Senator Sal DiDomenico, Massachusetts Labor and Workforce Development Secretary Lauren Jones, Massachusetts Undersecretary for Energy Michael Judge, Massachusetts Undersecretary of Community Development Ashley Stolba, Massachusetts Undersecretary of Decarbonization and Resilience Katherine Antos, Galen Nelson of the Massachusetts Clean Energy Center, Eric White of the U.S. Department of Energy’s Hydrogen and Fuel Cell Technology Office, Dr. Yu Seung Kim from the Los Alamos National Laboratory, as well as many esteemed guests and business partners, attended the grand opening of Advent's new fuel cell R&D and manufacturing facility at Hood Park in Charlestown, Massachusetts.


Massachusetts Governor Maura Healey with Advent Technologies Chairman and CEO Dr. Vasilis Gregoriou at the grand opening of the Company’s new facilities at Hood Park in Charlestown, (Boston), MA. (Photo: Business Wire)

This new facility represents a significant investment in Advent's future growth, as it will allow the Company to expand its production capacity and fulfill the rising global demand for electrochemistry components in the clean energy sector. Guests toured Advent's new facility, which has:

- State-of-the-art coating machines that support the seamless transition from prototypes to initial production runs for advanced membranes and electrodes of fuel cells.
- A fully analytical department dedicated to quality control, performance analysis, and improving product lifetime.
- Fuel cell and electrolyzer test stations for statistical process control and development of next-generation membrane electrode assembly (“MEA”) materials.
- An engineering lab for developing automated assembly processes for MEAs and stacks.

In addition, Advent executives and Massachusetts elected officials discussed the future of the State’s clean energy sector and how the U.S. Department of Energy’s Regional Clean Hydrogen Hubs program can accelerate its development. Advent is one of the companies that has co-signed a Memorandum of Understanding with the New York State Energy Research and Development Authority along with more than 60 clean hydrogen ecosystem partners to develop a proposal that will enable the Northeastern United States to become one of at least four regional clean hydrogen hubs.

Advent's new state-of-the-art facility at Hood Park brings together the Company’s corporate office staff, previously located at 200 Clarendon Street in downtown Boston, and its R&D team from Somerville's Greentown Labs. The facility is equipped to manufacture a range of innovative products, including the Ion Pair™ MEA. This next-generation MEA technology aims to revolutionize the global market by enabling fuel cells to have an expected lifetime of at least three times longer and also deliver double the power density of Advent's earlier fuel cell systems, making them ideal for heavy-duty mobility applications.

According to the 2022 Massachusetts Clean Energy Industry Report, the clean energy sector contributed to more than $14.2 billion to Massachusetts' Gross State Product and employed more than 104,000 workers in 2021. Advent’s newly established facility is expected to create employment opportunities for fuel cell engineers and material scientists in Massachusetts and further contribute to the growth of the clean energy sector.

Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, commented, "I would like to express my sincere appreciation to Governor Maura Healey, other elected officials, esteemed guests, and our business partners for joining us at the grand opening of Advent’s new fuel cell R&D and manufacturing facility. Their presence was a testament to the importance of the clean energy industry in Massachusetts and the potential of hydrogen technology. On behalf of the entire Advent team, I would like to thank them for their support and encouragement as we strive to become a leader in the electrochemistry components industry and help accelerate the global transition to a net-zero carbon future."

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

[KJAX]

I will never understand how ABML (diluted shares to oblivion 653,608,760 outstanding shares) still have a higher market cap than ADN. ABML has never made money and doesn't even have a facility built yet

[WeTheMarket]

Advent Technologies Reports Q4 2022 Results
March 31 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/90656956/advent-technologies-reports-q4-2022-results

Highlights
- Q4 2022 revenue of $2.0 million and income from grants of $0.4 million.
- Full year 2022 revenue of $7.8 million and income from grants of $1.5 million.
- Net loss in Q4 of $47.6 million or $(0.92) per share, including an impairment charge of $38.9 million. Adjusted net loss in Q4 of $13.2 million or $(0.26) per share.
- Company holds unrestricted cash reserves of $32.9 million as of December 31, 2022.
- After official ratification from the European Commission of the European Union for funding of €782.1 million under the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology for Advent’s Green HiPo project, Advent has been working with the Greek State to establish the mechanism and timing schedule for the funding facility.
- Commissioning of new Hood Park R&D and manufacturing facility in Boston, Massachusetts. This facility will enable Advent to scale-up and deliver on the increasing global demand for its electrochemical products.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced its consolidated financial results for the three months and year ended December 31, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Q4 2022 Financial Highlights
(All comparisons are to Q4 2021, unless otherwise stated)

- Revenue of $2.0 million and income from grants of $0.4 million. The total of $2.4 million is down 22% year-over-year, due to a decline in orders for the Company’s stationary fuel cell systems primarily driven by a change in tower ownership by certain Philippines telecom operators.
- Full year 2022 revenue of $7.8 million and income from grants of $1.5 million. The total of $9.3 million is an increase of 18% year-over-year, primarily due to a full year of results from the Company’s fuel cell systems businesses, compared to a partial year post-acquisition in 2021.
- Operating expenses of $11.7 million, a year-over-year decrease of $4.6 million, primarily due to a reduction in incentive and stock-based compensation expenses.
- Net loss in Q4 of $47.6 million or $(0.92) per share. Adjusted net loss of $13.2 million or $(0.26) per share. Adjusted net loss excludes a $2.1 million gain from the change in the fair value of outstanding warrants, a $2.4 million gain from an acquisition purchase price adjustment, and a $38.9 million goodwill and intangible asset impairment charge.
- Asset impairment charge primarily relates to goodwill from the Company’s stationary fuel cell systems business in Denmark, Germany, and the Philippines, which was acquired in August 2021.
- Unrestricted cash reserves were $32.9 million as of December 31, 2022, a decrease of $9.5 million from September 30, 2022. In the fourth quarter of 2022, the Company received $0.4 million in tenant improvement allowances for the Hood Park R&D and manufacturing facility in Charlestown, MA, which is net of additional spending for the build-out of the facility.

“Advent continued to make progress in the last quarter, despite global recession and inflationary pressures. Subsequent to ratification by the EU for Advent’s IPCEI Green HiPo project, we have been working with the Greek State on the mechanism and timing schedule for the funding facility. It is our goal to finalize these discussions as soon as possible and proceed with the roll-out of the program,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “With our focus on operational efficiency and the drive for growth, we have now commissioned our new R&D and manufacturing facility at Hood Park, Massachusetts. This will operate alongside our planned facility in Western Macedonia, Greece, by virtue of Green HiPo, allowing for both facilities to efficiently target different geographies and specialized markets. We remain confident that we are on a path for growth, and we look forward to keeping you apprised of future developments.”

Business Updates

Green HiPo Project: After official ratification from the European Commission of the European Union for funding of €782.1 million under the IPCEI Hydrogen – Technology for Advent’s Green HiPo project, Advent has been working with the Greek State to establish the mechanism and timing schedule for the funding facility. These meetings have included visits by Greek State officials to the Company’s research and production facilities in Patras, Greece. The next steps towards implementation of Advent’s Green HiPo Project have been discussed and highlight the Company’s intention to create approximately 600 direct jobs for qualified scientific and technical personnel and up to 4,600 indirect jobs over a period of six years. Green HiPo will be based in Western Macedonia, Greece, and will involve the development, design, and manufacture of HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively.

New Hood Park R&D and Manufacturing Facility: In March 2023, Advent announced that it had opened its new R&D and manufacturing facility at Hood Park in Boston, Massachusetts. Located at the heart of one of Boston’s newest innovation and R&D communities, the Hood Park facility will enable Advent to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy sector by including state-of-the-art coating machines to support the seamless transition from prototypes to production runs for advanced membranes and electrodes; a fully analytical facility dedicated to quality control, performance analysis, and improving product lifetime; fuel cell test stations for statistical process control and development of next-generation membrane electrode assembly (“MEA”) materials, and, a mechanical engineering lab for developing automated processes for MEAs. One of the products to be manufactured at Hood Park is the ion-pair 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. Advent intends that its proprietary fuel cell products, such as Serene and Honey Badger 50™, will use the ion-pair Advent MEAs beginning in 2024. The Company expects the introduction of the ion-pair Advent MEA will significantly reduce the cost of our Serene flagship product suite and thus expand the immediately addressable market. Furthermore, the expected system increase in power density and lifetime will highly differentiate Advent’s fuel cells in the heavy-duty mobility industry.

Joint Development Agreement with Hyundai Motor Company (“Hyundai”): On March 22, 2023, Advent and Hyundai announced a successful technology assessment. The assessment evaluated Advent’s proprietary MEA technology for supplying Hyundai’s high-temperature fuel cell needs, and following its success, the two companies have entered into a Joint Development Agreement (“JDA”). The agreement solidifies the interest of one of the world leaders in fuel cell technology to further develop the HT-PEM technology in collaboration with Advent. The first step of the JDA focuses on the MEA. Advent’s goal is to provide its MEAs and its HT-PEM fuel cell development expertise to co-develop with automotive manufacturers the next generation of fuel cells for heavy-duty mobility. The HT-PEM fuel cell technology is highly differentiated compared with the current LT-PEM technology because it allows a vehicle to operate with efuel such as eMethanol, biofuels, and low-purity hydrogen; it allows higher impurity in the hydrogen or air intake, a case which is very common in practice and has repeatedly hampered LT-PEM deployments in real-world conditions; it has built-in resilience, as the HT-PEM fuel cell does not rely on water for conductivity, therefore eliminating the problems of operating in extreme heat, cold, or humid conditions; and it has a higher efficiency resulting from the high-temperature operation, which allows for optimized cooling, a critical performance parameter for heavy-duty trucks and aircraft. Based on the aforementioned, Advent will pursue strategic joint development agreements to achieve its goal of supplying key MEA components and technology to the mobility market.

Vantage Towers Greece (“Vantage Towers”): On December 19, 2022, Advent launched a proof of concept (“PoC”) project with Vantage Towers to replace diesel generators with fuel cells. Vantage Towers Greece is the largest and only independent tower infrastructure company in Greece, operating more than 5,250 towers for Vodafone Greece and Wind Hellas. By replacing diesel generators with fuel cells at non-permanent sites that are not connected to the power grid, they can be supplied with environmentally friendly electricity. Under the PoC, Vantage Towers Greece, a subsidiary of Vantage Towers Group, one of Europe’s leading tower companies, will explore the applicability of Advent’s Serene biomethanol-powered fuel cell systems as back-up and primary power sources for its telecom towers. This new collaboration is particularly aligned with the overall strategy of Vantage Towers, which aims to drive sustainable digitalization in Europe by reducing carbon emissions across its network by using clean energy solutions. Following the successful completion of the PoC project in Greece, Advent and Vantage Towers could consider wider deployments. Advent has already installed approximately 1,000 methanol-powered Serene fuel cell systems worldwide, primarily used as a back-up power source for the telecommunications sector.

Collaboration with Alfa Laval: On January 10, 2023, Advent announced a collaboration with Alfa Laval, a global provider of heat transfer, separation, and fluid handling products, on a project to explore applications of Advent’s methanol-powered HT-PEM fuel cells in the marine industry. Funded by the Danish Energy Technology Development and Demonstration Program, the project is a joint effort between Advent, Alfa Laval and a group of Danish shipowners. The project will focus on testing Advent’s methanol-powered HT-PEM fuel cells as a source of marine auxiliary power. During the course of the project, the fuel cell system will undergo a risk assessment by a leading international classification society. At the same time, the project aims to integrate the next generation of Advent’s fuel cells. These fuel cells will be based on Advent’s next-generation MEA. Aiming to meet the ever-growing power requirements of the maritime industry, Advent’s next-generation fuel cells are expected to demonstrate a significant increase in lifetime, efficiency, and electrical output.

Marine Fuel Cell Solution for Superyachts: On February 9, 2023, Advent announced a new marine collaboration with a globally renowned energy technology company, offering sustainable solutions across the entire energy value chain. Advent and its partner will work together to develop a 50kW–500kW marine fuel cell solution for a range of superyachts, which will provide a sustainable and reliable source of auxiliary power and offer improved power density. This marine fuel cell solution is initially expected to be used as a hybrid power source, enabling clean electricity generation instead of using conventional diesel engines and generators for procedures such as anchoring and maneuvering. As part of the agreement, Advent’s partner has placed an initial order for 20 of Advent’s methanol-powered Serene fuel cell systems. Following the completion of this project, the two parties will explore the potential of developing similar solutions for a wider range of business applications beyond marine, such as industrial power solutions.

Honey Badger Fuel Cell for U.S. Department of Defense: Advent continued with the development efforts of the Honey Badger 50™, the portable power generator for the Defense market, funded by the U.S. Department of Defense. The Company expects the production version to be finalized in 2023, and our goal is to receive production orders in 2024 increasing to higher volumes in 2025. We consider the Department of Defense programs a very important part of our innovation portfolio, as they demand performance under extreme conditions and prove the resilience of the HT-PEM technology. The portable fuel cell application market is also a potential target for growth, where we intend to seek synergies with established market leaders that require a fuel cell product suite.

Conference Call

The Company will host a conference call on Friday, March 31, 2023, at 9:00 AM ET to discuss its results.

To access the call please dial [phone] from the United States, or [phone] from outside the U.S. The conference call I.D. number is 3273042. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through April 14, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, and the 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, or licensed worldwide for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enable various fuels to function at high temperatures and under extreme conditions – offering a flexible option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, please visit www.advent.energy.

[KJAX]

Advent Technologies Reports Q4 2022 Results
03/31/2023
Q4 2022 revenue of $2.0 million and income from grants of $0.4 million.
Full year 2022 revenue of $7.8 million and income from grants of $1.5 million.
Net loss in Q4 of $47.6 million or $(0.92) per share, including an impairment charge of $38.9 million. Adjusted net loss in Q4 of $13.2 million or $(0.26) per share.
Company holds unrestricted cash reserves of $32.9 million as of December 31, 2022.

After official ratification from the European Commission of the European Union for funding of €782.1 million under the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology for Advent’s Green HiPo project, Advent has been working with the Greek State to establish the mechanism and timing schedule for the funding facility.

Commissioning of new Hood Park R&D and manufacturing facility in Boston, Massachusetts. This facility will enable Advent to scale-up and deliver on the increasing global demand for its electrochemical products.

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 its consolidated financial results for the three months and year ended December 31, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Q4 2022 Financial Highlights
(All comparisons are to Q4 2021, unless otherwise stated)

Revenue of $2.0 million and income from grants of $0.4 million. The total of $2.4 million is down 22% year-over-year, due to a decline in orders for the Company’s stationary fuel cell systems primarily driven by a change in tower ownership by certain Philippines telecom operators.

Full year 2022 revenue of $7.8 million and income from grants of $1.5 million. The total of $9.3 million is an increase of 18% year-over-year, primarily due to a full year of results from the Company’s fuel cell systems businesses, compared to a partial year post-acquisition in 2021.

Operating expenses of $11.7 million, a year-over-year decrease of $4.6 million, primarily due to a reduction in incentive and stock-based compensation expenses.

Net loss in Q4 of $47.6 million or $(0.92) per share. Adjusted net loss of $13.2 million or $(0.26) per share. Adjusted net loss excludes a $2.1 million gain from the change in the fair value of outstanding warrants, a $2.4 million gain from an acquisition purchase price adjustment, and a $38.9 million goodwill and intangible asset impairment charge.

Asset impairment charge primarily relates to goodwill from the Company’s stationary fuel cell systems business in Denmark, Germany, and the Philippines, which was acquired in August 2021.

Unrestricted cash reserves were $32.9 million as of December 31, 2022, a decrease of $9.5 million from September 30, 2022. In the fourth quarter of 2022, the Company received $0.4 million in tenant improvement allowances for the Hood Park R&D and manufacturing facility in Charlestown, MA, which is net of additional spending for the build-out of the facility.

“Advent continued to make progress in the last quarter, despite global recession and inflationary pressures. Subsequent to ratification by the EU for Advent’s IPCEI Green HiPo project, we have been working with the Greek State on the mechanism and timing schedule for the funding facility. It is our goal to finalize these discussions as soon as possible and proceed with the roll-out of the program,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “With our focus on operational efficiency and the drive for growth, we have now commissioned our new R&D and manufacturing facility at Hood Park, Massachusetts. This will operate alongside our planned facility in Western Macedonia, Greece, by virtue of Green HiPo, allowing for both facilities to efficiently target different geographies and specialized markets. We remain confident that we are on a path for growth, and we look forward to keeping you apprised of future developments.”

Business Updates

Green HiPo Project: After official ratification from the European Commission of the European Union for funding of €782.1 million under the IPCEI Hydrogen – Technology for Advent’s Green HiPo project, Advent has been working with the Greek State to establish the mechanism and timing schedule for the funding facility. These meetings have included visits by Greek State officials to the Company’s research and production facilities in Patras, Greece. The next steps towards implementation of Advent’s Green HiPo Project have been discussed and highlight the Company’s intention to create approximately 600 direct jobs for qualified scientific and technical personnel and up to 4,600 indirect jobs over a period of six years. Green HiPo will be based in Western Macedonia, Greece, and will involve the development, design, and manufacture of HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively.

New Hood Park R&D and Manufacturing Facility: In March 2023, Advent announced that it had opened its new R&D and manufacturing facility at Hood Park in Boston, Massachusetts. Located at the heart of one of Boston’s newest innovation and R&D communities, the Hood Park facility will enable Advent to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy sector by including state-of-the-art coating machines to support the seamless transition from prototypes to production runs for advanced membranes and electrodes; a fully analytical facility dedicated to quality control, performance analysis, and improving product lifetime; fuel cell test stations for statistical process control and development of next-generation membrane electrode assembly (“MEA”) materials, and, a mechanical engineering lab for developing automated processes for MEAs. One of the products to be manufactured at Hood Park is the ion-pair 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. Advent intends that its proprietary fuel cell products, such as Serene and Honey Badger 50™, will use the ion-pair Advent MEAs beginning in 2024. The Company expects the introduction of the ion-pair Advent MEA will significantly reduce the cost of our Serene flagship product suite and thus expand the immediately addressable market. Furthermore, the expected system increase in power density and lifetime will highly differentiate Advent’s fuel cells in the heavy-duty mobility industry.

Joint Development Agreement with Hyundai Motor Company (“Hyundai”): On March 22, 2023, Advent and Hyundai announced a successful technology assessment. The assessment evaluated Advent’s proprietary MEA technology for supplying Hyundai’s high-temperature fuel cell needs, and following its success, the two companies have entered into a Joint Development Agreement (“JDA”). The agreement solidifies the interest of one of the world leaders in fuel cell technology to further develop the HT-PEM technology in collaboration with Advent. The first step of the JDA focuses on the MEA. Advent’s goal is to provide its MEAs and its HT-PEM fuel cell development expertise to co-develop with automotive manufacturers the next generation of fuel cells for heavy-duty mobility. The HT-PEM fuel cell technology is highly differentiated compared with the current LT-PEM technology because it allows a vehicle to operate with efuel such as eMethanol, biofuels, and low-purity hydrogen; it allows higher impurity in the hydrogen or air intake, a case which is very common in practice and has repeatedly hampered LT-PEM deployments in real-world conditions; it has built-in resilience, as the HT-PEM fuel cell does not rely on water for conductivity, therefore eliminating the problems of operating in extreme heat, cold, or humid conditions; and it has a higher efficiency resulting from the high-temperature operation, which allows for optimized cooling, a critical performance parameter for heavy-duty trucks and aircraft. Based on the aforementioned, Advent will pursue strategic joint development agreements to achieve its goal of supplying key MEA components and technology to the mobility market.

Vantage Towers Greece (“Vantage Towers”): On December 19, 2022, Advent launched a proof of concept (“PoC”) project with Vantage Towers to replace diesel generators with fuel cells. Vantage Towers Greece is the largest and only independent tower infrastructure company in Greece, operating more than 5,250 towers for Vodafone Greece and Wind Hellas. By replacing diesel generators with fuel cells at non-permanent sites that are not connected to the power grid, they can be supplied with environmentally friendly electricity. Under the PoC, Vantage Towers Greece, a subsidiary of Vantage Towers Group, one of Europe’s leading tower companies, will explore the applicability of Advent’s Serene biomethanol-powered fuel cell systems as back-up and primary power sources for its telecom towers. This new collaboration is particularly aligned with the overall strategy of Vantage Towers, which aims to drive sustainable digitalization in Europe by reducing carbon emissions across its network by using clean energy solutions. Following the successful completion of the PoC project in Greece, Advent and Vantage Towers could consider wider deployments. Advent has already installed approximately 1,000 methanol-powered Serene fuel cell systems worldwide, primarily used as a back-up power source for the telecommunications sector.

Collaboration with Alfa Laval: On January 10, 2023, Advent announced a collaboration with Alfa Laval, a global provider of heat transfer, separation, and fluid handling products, on a project to explore applications of Advent’s methanol-powered HT-PEM fuel cells in the marine industry. Funded by the Danish Energy Technology Development and Demonstration Program, the project is a joint effort between Advent, Alfa Laval and a group of Danish shipowners. The project will focus on testing Advent’s methanol-powered HT-PEM fuel cells as a source of marine auxiliary power. During the course of the project, the fuel cell system will undergo a risk assessment by a leading international classification society. At the same time, the project aims to integrate the next generation of Advent’s fuel cells. These fuel cells will be based on Advent’s next-generation MEA. Aiming to meet the ever-growing power requirements of the maritime industry, Advent’s next-generation fuel cells are expected to demonstrate a significant increase in lifetime, efficiency, and electrical output.

Marine Fuel Cell Solution for Superyachts: On February 9, 2023, Advent announced a new marine collaboration with a globally renowned energy technology company, offering sustainable solutions across the entire energy value chain. Advent and its partner will work together to develop a 50kW–500kW marine fuel cell solution for a range of superyachts, which will provide a sustainable and reliable source of auxiliary power and offer improved power density. This marine fuel cell solution is initially expected to be used as a hybrid power source, enabling clean electricity generation instead of using conventional diesel engines and generators for procedures such as anchoring and maneuvering. As part of the agreement, Advent’s partner has placed an initial order for 20 of Advent’s methanol-powered Serene fuel cell systems. Following the completion of this project, the two parties will explore the potential of developing similar solutions for a wider range of business applications beyond marine, such as industrial power solutions.

Honey Badger Fuel Cell for U.S. Department of Defense: Advent continued with the development efforts of the Honey Badger 50™, the portable power generator for the Defense market, funded by the U.S. Department of Defense. The Company expects the production version to be finalized in 2023, and our goal is to receive production orders in 2024 increasing to higher volumes in 2025. We consider the Department of Defense programs a very important part of our innovation portfolio, as they demand performance under extreme conditions and prove the resilience of the HT-PEM technology. The portable fuel cell application market is also a potential target for growth, where we intend to seek synergies with established market leaders that require a fuel cell product suite.

Conference Call

The Company will host a conference call on Friday, March 31, 2023, at 9:00 AM ET to discuss its results.

To access the call please dial [phone] from the United States, or [phone] from outside the U.S. The conference call I.D. number is 3273042. Participants should dial in 5 to 10 minutes before the scheduled time.

A replay of the call can also be accessed via phone through April 14, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Reports-Q4-2022-Results/default.aspx

[WeTheMarket]

Advent Technologies' Chairman and CEO, Dr. Vasilis Gregoriou Elected as Chair of EU IPCEI Hy2Tech Group
Wed, March 29, 2023
https://finance.yahoo.com/news/advent-technologies-chairman-ceo-dr-130300940.html

BOSTON, March 29, 2023--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce the election of its Chairman and CEO, Dr. Vasilis Gregoriou, as the Chair of the Important Project of Common European Interest ("IPCEI") Hy2Tech Facilitation Group (the "Facilitation Group"). The election took place at the 1st General Assembly for Hy2Tech and Hy2Use, two of the European Union's IPCEIs, which aim to promote research, innovation, and the first industrial deployment of hydrogen technology infrastructure in Europe.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230329005582/en/

[eom7]

News seems major... market don't care, says, SHOW ME THE $$$

[eom7]

The C.C. better be crazy bullish...

[622fast]

Scam as in the entire market or you referring to adn?

[JoEy D BuLL]

Seems like clockwork scam operation... lost too much $$$ here last year now I'm back for more... joy..

[JoEy D BuLL]

Anybody get roped into buying above 1.50?

[barnyarddog]

https://twitter.com/adventnrg/status/1638888262294032384?cxt=HHwWgMC-yZ-MwL4tAAAA

[eom7]

Ouch, company must be raising money.

[eom7]

Stock needed this volume badly, hope it can hold some gains!

[eom7]

6m traded already!!! ok maybe I was wrong about timing. lol