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Out @.36 waiting to go lower to get back in
Personally, I got in this afternoon. I'm still in
May dump by morning
Thanks for clearing that up!
PP786, INFINITI, Advent has been waiting for these Green HiPo IPCEI funds for almost two years, since first announced. There have been many Press Releases (see links below) including today, but nothing concrete yet that says that Advent has finally received any of the funds/grants promised. Every new Press Release seems like progress is being made, but until Advent actually receives the funds/grants, the share price will not see substantial improvements.
https://advent.energy/2022/07/18/advent-technologies-receives-official-ratification-from-the-european-union-for-the-green-hipo-ipcei-project/
https://advent.energy/2022/09/13/green-hipo-press-conference/
https://advent.energy/2023/05/26/advent-technologies-update-on-green-hipo/
https://advent.energy/2023/11/16/advent-technologies-receives-funding-update-for-e60-million-to-launch-green-hipo-ipcei-project/
DOE’s L’Innovator Pioneers a New Model for Jumpstarting Commercialization of Cutting-Edge Fuel Cell Technologies
FEBRUARY 23, 2024
https://www.energy.gov/eere/fuelcells/articles/does-linnovator-pioneers-new-model-jumpstarting-commercialization-cutting
Agree don’t know it should be trading higher IMO
They always seem to have good news... I don't understand why it's trading this level for so long... can anyone explain?
Advent Technologies Receives Formal Invitation from Greek State for €24 Million Grant for the Green HiPo IPCEI Project
Source: Business Wire
Advent Technologies, an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that its wholly owned subsidiary, Advanced Energy Technologies S.A., has received the formal invitation from the Greek Ministry of Economy and Finance to immediately submit the requested documentation for its Green HiPo Important Project of Common European Interest (“IPCEI”) project.
After Advent submits the requested documentation, the Greek Ministry of Economy and Finance is expected to proceed with the disbursement of a €24 million state aid package from Greece’s Just Transition Fund (JTF) for the implementation of the Green HiPo project. Expenses related to the project are eligible for reimbursement retroactive to June 15, 2022, the date of notification to the European Union’s Directorate-General for Competition of Greece’s participation in the IPCEI Hy2Tech program. Advent will also look to secure additional funding to round out the full €60 million which was authorized under the IPCEI’s project budget.
Advent was one of only eight small and medium-sized entities (“SMEs”) to have received ratification within Europe under the “IPCEI Hy2Tech” program. The project's direct participants will cooperate closely through numerous planned collaborations with more than 300 external partners, such as universities, research organizations and SMEs across Europe.
The Green HiPo project involves the development, design, and manufacture of state-of-the-art HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will be instrumental in the region's transition to a greener economic model. A new state-of-the-art facility in Kozani, Greece will be home to fuel cell and electrolyser production. It will contribute to the economic development of the region and help Europe achieve its current target of 10 million tons of renewable hydrogen production by 2030.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, commented: "The long anticipated invitation or “call” for the Green HiPo project from the Greek State has finally arrived. Green HiPo, alongside other initiatives slated for implementation in Western Macedonia, represents a very real opportunity for the region to transition from a coal-dependent economy to a more environmentally friendly economic model. We are excited to continue working with our partners across Europe to move forward towards energy security and independence, with hydrogen technologies playing a crucial role."
About Advent Technologies Holdings, Inc
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240226969643/en/
Advent Technologies Holdings, Inc.
Michael Trontzos
press@advent.energy
$ADN 07:00 on Feb. 26 2024
— NuntioBot (@NuntioBot) February 26, 2024
Advent Technologies Receives Formal Invitation from Greek State for €24 Million Grant for the Green HiPo IPCEI Project
Four major investments remain on paper
Where is the licensing and implementation of "new generation" projects "stuck"?
Dimitris Delevegos
20.02.2024
https://www.kathimerini.gr/economy/562888999/paramenoyn-sta-chartia-tesseris-megales-ependyseis/
They were announced several years ago, while the legislative framework was changed in order to accelerate their implementation. However, the "new generation" strategic investments, which aspire to diversify, to a certain extent, the productive model of the Greek economy, if they do not remain a model, are at an embryonic stage. Despite the digitization of many state processes, the regime surrounding greenfield projects, for which, that is, there is no pre-existing construction, refers to the labyrinth of the Minotaur.
It is indicative that an investment consortium of a major project, which is being launched in a purely industrial area, had to provide a certificate, examined by a competent committee, that the activity it will develop, although not manufacturing, will not cause an impact on land of high productivity, i.e. agricultural. This certificate is only one of the supporting documents required by the investment file in order to be authorized. With bureaucracy and the co-responsibility of many different bodies and bodies continuing to give... With the resounding "present" and the cost of money having risen, it is no wonder why large greenfield projects show almost non-existent progress.
Data centers
Since October 2020, when it was announced that Microsoft will build a data center cluster in Attica, with a total benefit to the economy of €1 billion. Slightly more than three years have passed. Just in recent months, the first phase of the investment managed to find itself just before the starting line. What happened? In 2021, the change of the legislative framework for the strategic investments in which data centers were included, as well as the finding and acquisition of the necessary land by Microsoft in Spata, where one of the three facilities will be built, and Koropi.
In April 2022, Microsoft's three data centers were included in the strategic investment scheme, while in 2023 the company secured the building permit for the data center to be built in the industrial park of Spata (location Petra Gialos – Voulia – Prokalisi), on land acquired by the technology company from Lamda Development. Shortly before the expiration of 2023, Microsoft began conducting a tender, which is in the final stage, for the selection of the contractor that will implement one of the three data centers in the business center of Spata. In view of the publication in the Government Gazette of the Presidential Decree on the location of the project, the start of construction works is placed in the near future.
The creation of a cloud region in Attica, i.e. three data centers on which Google's digital cloud services will be based, was announced by the American technology company in September 2022. The estimated time horizon for the start of operation of the company's facilities was set at 2024.
Film studios
Investments in film studios can be characterized as strategic by taking incentives for accelerated licensing, based on the law of the Ministry of Development that was passed in 2021. To date, however, although Greece is a pole of attraction for international film productions, the construction of studios has not begun. The largest investment project of this kind is in the order of EUR 50 million. It includes the construction of a film production studio in "Platania" of Thermi, Thessaloniki and post-production of films, videos and television programs in Hellinikon by the company (affiliated with Nu Boyana Hellenic) "Vasilika Thermis".
According to the master plan of the project, the production studio in Thermi has a total area of 11,184 sq.m., will have outdoor shooting areas of 12,376 sq.m., production offices of 8,040 sq.m. and other supporting facilities of 4,000 sq.m. The second post production facility, with a total area of 3,511 sq.m., will include appropriately designed and equipped rooms for sound engineering, sound mixing, audio and video processing, and will be located in privately owned land of the company "Vasilika Thermi" in the area of Elliniko. The project was originally announced in 2019 as part of the 60th Thessaloniki Festival, but still remains in the planning phase.
Business parks
Slow progress is also being made in the creation of organized business parks that have the appropriate infrastructure to host manufacturing enterprises and industries. The lack of such facilities is one of the pathologies of Greek entrepreneurship because the sites, also known as manufacturing hosts, have developed unregulated, off-plan and without infrastructure, causing significant environmental and urban impacts. Nevertheless, the start of implementation of these co-financed projects by the Recovery Fund is significantly delayed at least one year, while they should be completed by the end of 2025. The cause?
For example, in the case of an industrial park to be cleaned up, it took the relevant authorities more than six months to send their comments on the project file. After the investor made the necessary adjustments, based on the observations, it took another seven months for the relevant services to officially announce that the project file is complete. As a result, this investment has been delayed for about a year, without yet securing final licensing.
According to older data from SEV's Business Environment Observatory, only 13% of manufacturing enterprises operate in business parks. In Attica, which represents 40%-45% of the country's total manufacturing production, there are only three integrated areas of organized receptors with a total area of 1,780 acres, i.e. only 2.86% of the total area of organized receptors.
Hydrogen unit
Green HIPo, as is the name of Advent Technologies' project, which has as its object the construction of an innovative electrolyser and fuel cell production unit in Western Macedonia, claimed, for the first time, European funding in September 2021, having an initial budget of € 782 million. euro. Ultimately, the company, which develops hydrogen technology, will receive a grant from Greece's Just Transition Fund corresponding to 24% of its total (revised) budget of €60 million. euro. The project foresees the construction, over a seven-year period, of high-temperature fuel cells, with a total electricity output of 400 MW and corresponding thermal capacity, as well as electrolysis units with a total capacity of 4.65 GW, in the company's production lines to be installed in Western Macedonia.
However, due to bureaucratic – financial issues, the start of its implementation remains at ground zero, while the initial timetable foresaw that it would start to be implemented in the first half of 2023. It remains to be seen whether there will be movement within the month. Hydrogen is the fuel of the future, according to experts. It does not emit carbon dioxide and can serve the goal of decarbonisation because – unlike renewables – it does not depend on wind potential intensity and sunshine.
The numbers
€1 billion At least the economic footprint on the Greek economy is expected to be from the development of Microsoft's three-center data center complex.
€50 million € the amount of investment for the construction of production and processing studios (post-production) in Thessaloniki and Elliniko.
13% of manufacturing enterprises operate in business parks, whose implementation rate lags behind the original schedule.
Netherlands: fuel cell manufacturer Nedstack from Arnhem declared bankrupt
PUBLISHED ONFEBRUARY 8, 2024
https://www.waterstofmagazine.nl/11-nieuws/2572-nederland-brandstofcelfabrikant-nedstack-uit-arnhem-failliet-verklaard
Advent will present this morning at 10 am ET at the Mission Hydrogen webinar (free).
Advent will showcase a portable power solution designed to replace diesel generators in sectors like Construction, EV Charging, Microgrid Support, Events, and Buildings (SereneP).
Title: “Clean Power for Construction and EV Charging???????”
Speakers: Dr. Chris Kaskavelis, Chief Strategy Officer, Advent Technologies Holdings, Inc.; Morten Hougaard Sørensen, Senior Vice President, Advent Technologies Holding A/S
Date: February 7, 10 am (New York)
Registration: mission-hydrogen.com/
Price: Free
2026 is a key year for "green" aircraft with Greek technology from Advent-Airbus
The aim of the project is to support Airbus in powering its aircraft entirely with fuel cells
29/01/2024
https://www.newsbeast.gr/financial/arthro/10475353/to-2026-etos-kleidi-gia-ta-prasina-aeroskafi-me-elliniki-technologia-apo-advent-airbus
The €13 million project is expected to be completed within the next two years. Greek company Advent Technologies and French aerospace giant Airbus are jointly launching as part of the latter's goal to market the first hydrogen-fuelled passenger aircraft by 2035. The first test flights of Airbus' green aircraft, in which Greek technology will be integrated, are expected to take place in 2026.
The agreement between the two companies was officially announced a few days ago, with the filing of an 8-K filing with the US Securities and Exchange Commission (Advent Technologies Holdings, Inc is listed on the Nasdaq index).
The Advent-Airbus collaboration concerns the optimization of the Greek company's Ion Pair™ ("MEA") membrane electrode assembly for hydrogen fuel cells. Airbus will bring its extensive knowledge and know-how into the aviation industry to the project, while Advent will participate with human talent, materials, hardware and third-party research centers.
The aim is to accelerate the development of Advent's aforementioned electrode layout and compare it with aviation requirements and current/expected technological limits. The primary objective of the project is to support Airbus in achieving its goal of powering its aircraft entirely with fuel cells.
Why is UAV so important? MEAs play a key role in determining the performance of a fuel cell, influencing critical factors such as service life, performance, weight and cost. Advent's layout has shown an even longer lifespan while operating at higher current densities compared to current MEAs, promising a significant reduction in powertrain weight and volume through streamlined balance of installation and cooling subsystems.
It is reminded that in 2024 Advent's investment plan – in cooperation with Germany's BASF – for the creation of a plant in the area of Kozani, where new types of HT-PEM hydrogen cells will be produced, is expected to begin to be implemented. Founded in 2006, Advent is now a subsidiary of Advent Technologies Holdings, Inc., headquartered in Boston, Massachusetts.
The ceo will have to admit to his self that he's got to dillute. He pays him self enough to shrug it off and still make multiples in the end. It's just a game and this company just doesnt exist in a world with a significant hydrogen economy. If we see that change it doesn't have a big portion of the market share. New patents outside of these guys can come along and steal the show as well. I'm still rooting for them and better trading here in the future. I've lost a big stack owning this up at 3,2,1... so I'm not going to go to bed at night playing big in this one yet.
Were also coming into a time where international waters are less safe to travel, I dont think a large scale transition into hydrogen is going to happen unless we are talking replacing all the boats after ww3. Isnt greece broke isnt the EU bracing for possible war?
Extreme headwinds here have the price depressed. They could drop news and pop this 300% volume will be low and it wont hold. They'll announce a reverse split or offering shortly after. I wouldnt be surprised to see .09 Sure .45 is possible from here.. but in the end ive seen ceo's reverse split themselves down tiny percentages of their initial holdings. After all they didnt pay for them.. we did.
JEDB, does that mean you don't own any shares?
I wanted .11. Anything under .25 I thought was good but been expecting a reverse split and/or offering so the downside is pretty signicant..
JEDB, I've been averaging down, I currently have 25,000 shares at an average cost of $0.34. What about you?
Form 8-K
January 19, 2024
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001744494/4bdb21b4-5827-47c9-b678-973f214ad639.pdf
Item 8.01 Other Events.
On January 19, 2024, Advent Technologies, Inc. (“Advent”), a wholly owned subsidiary of Advent Technologies Holdings, Inc., a Delaware corporation (the “Company”), entered into an agreement (the “Agreement”) for a joint benchmarking project (the “Project”) with Airbus SAS (“Airbus”), a global leader in aeronautics, space, and related services, regarding an optimized Ion Pair™ Membrane Electrode Assembly (“MEA”) for hydrogen fuel cells. The goal of the Project is to accelerate the development of Advent’s MEA and benchmark the Ion Pair MEA against aviation requirements and current/expected technological limits. Airbus has agreed to provide a portion of the financial contribution to the Project and share its extensive knowledge of the aviation industry, and Advent has agreed to invest in people, materials, hardware, and third-party research centers, to contribute to the goals of the Project. The combined value of Advent and Airbus’ investment pursuant to the Agreement is $13 million. The Project will take place over the next two years and will commence concurrently upon the execution of the Agreement
who is here holding shares bought at $2 and $3? or God forbid higher?
From lignite to hydrogen, Western Macedonia
Courage, January 17, 2024
https://tharos.gr/dytiki-makedonia/apo-ton-ligniti-sto-ydrogono-i-dytiki-makedonia/
Advent Technologies: Plant for green hydrogen in Kozani
Western Macedonia is gradually moving from lignite to hydrogen with the implementation of the investment of the Greek company Advent Technologies in cooperation with the German BASF, for the production of a new type of fuel cell HT-PEM, which will "give" electricity and green hydrogen, in an area in the area of Kozani to enter the final straight within 2024.
Relevant announcements, which will outline the details of an ambitious development project that changes the balance in an area "wounded" by lignite phase-out, are coming in February, according to OT information.
- Greece can become a hydrogen hub and a center for the production of synthetic fuels
- Western Macedonia: From lignite to hydrogen, with the Green HiPo of Advent Technologies as a "vehicle"
European Hydrogen Bank: Green hydrogen pilot auction launches
BASF has been a leader in membrane and MEA technology for high temperature proton exchange membrane (HT-PEM) fuel cells for 20 years, while Advent is the largest manufacturer of HT-PEM fuel cell systems. Their collaboration aims to develop new catalysts and fuel membranes.
The Green HiPo
Advent Technologies' Green HiPo project is one step away from going on the rails. The initial budget of the project reaches 60 million euros, while 40% of this amount, ie 24 million euros, is expected to be funded by the NSRF DAM Program 2021-2027.
The investment with an EU seal, since everything seems to have overcome some bureaucratic entanglements that had occurred, may exceed EUR 700 million in six years' time. "opening" about 650 direct jobs and multiple indirect jobs in the region.
In July 2022, the European Commission approved the "Green HiPo" project submitted by Advent Technologies under the Project of Common European Interest ("IPCEI"), with €780 million in aid. € public expenditure, to support research, innovation and first industrial development in the hydrogen value chain.
The "green" Greek bet
Green HiPo aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units to generate electricity and green hydrogen, respectively. Through Green HiPo, Advent wants to turn Greece into an example of how a small country can be a producer and not just a consumer of knowledge and innovation.
It is worth noting that the promising hydrogen, although still in its embryonic stage, is estimated to cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The electrolysis plants produced through the project will be exported to Europe, contributing to the EU's target of producing 10 million tonnes of renewable hydrogen by 2030 and globally.
At the same time, the membranes and fuel cells expected to be produced through the project aim to play a leading role in the electrification of the aircraft, ships and trucks of the future.
Advent already maintains strategic partnerships with giant companies such as Airbus, Hyundai Motor Company and Siemens Energy.
Advent has specialized in high-performance fuel cell technology. Fuel cells use hydrogen, natural gas or other forms of clean liquid fuels to produce 'clean' energy.
This technology has multiple uses in automotive, aeronautics and off-grid power generation.
Hydrogen is a versatile energy carrier that can be produced from various renewable sources, such as wind and solar energy. Advent is developing advanced hydrogen production and storage solutions to enable widespread adoption of hydrogen as a clean energy source. These technologies have the potential to revolutionize industries such as transportation, industrial processes and power generation.
At the core of Advent's plans are the new type of HT-PEM fuel cells that the company prefers for aviation, heavy trucks, automotive and marine use.
In 2023, Advent has launched new partnerships, building on existing partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
"Flying" with Airbus
The company last year reached an agreement with Airbus, a global leader in aeronautics, for a joint benchmarking project on an optimized Ion Pair (MEA) electrode system for hydrogen fuel cells it develops.
Airbus will provide financial support to the project and extensive knowledge of the aviation industry. Advent will invest in people, materials, material and external research centers to contribute to the project's objectives. The multimillion-dollar partnership will take place over two years. The aim of the project is to accelerate the development of Advent's technology and compare the Ion Pair MEA with aviation requirements and current and anticipated technological limits in upcoming hydrogen cell aircraft engines.
Hydrogen has been produced and used for over a century, mainly for the production of fertilizers and plastics and for the refining of oil. It has been produced mostly using fossil fuels, especially natural gas. But when production is powered by renewable energy sources, the resulting hydrogen is green hydrogen.
The global green hydrogen market is expected to reach €410 billion. dollars by 2030, according to analysts, which would more than double the current market size. However, its doubters say the fuel is not always sustainable and that how green it is is determined by the energy source used to produce it.
The uses of green hydrogen
Green hydrogen can have a variety of uses in industries such as steelmaking, concrete production, and chemical and fertilizer production. It can also be used to generate electricity, as fuel for transport and for heating homes and offices.
Today, hydrogen is mainly used in gasoline refining and fertilizer production. Green hydrogen is produced by the method of electrolysis of water from electricity coming from RES. Solar energy or wind power is usually used.
Green hydrogen has low to zero CO2 emissions. It can be used either for electricity through fuel cells, or in gaseous form for use in transport. Compared to other forms of hydrogen production, it is more expensive at present but certainly the most environmentally friendly.
Advent Technologies: Green hydrogen plant in Kozani – Announcements in February
The benefits of the €700 million investment and the country's crucial bet
January 16, 2024
https://www.ot.gr/2024/01/16/green/advent-technologies-ergostasio-gia-prasino-ydrogono-stin-kozani-anakoinoseis-ton-fevrouario/
Western Macedonia is gradually moving from lignite to hydrogen with the implementation of the investment of the Greek company Advent Technologies in cooperation with the German BASF, for the production of a new type of HT-PEM fuel cells, which will "give" electricity and green hydrogen, in an area in the area of Kozani to enter the final straight within 2024.
Relevant announcements, which will outline the details of an ambitious development project that changes the balance in an area "wounded" by lignite phase-out, are coming in February, according to OT information.
European Hydrogen Bank: Green hydrogen pilot auction launches
BASF has been a leader in membrane and MEA technology for high temperature proton exchange membrane (HT-PEM) fuel cells for 20 years, while Advent is the largest manufacturer of HT-PEM fuel cell systems. Their collaboration aims to develop new catalysts and fuel membranes.
The Green HiPo
Advent Technologies' Green HiPo project is one step away from going on the rails. The initial budget of the project reaches 60 million euros, while 40% of this amount, ie 24 million euros, is expected to be funded by the NSRF DAM Program 2021-2027.
The investment with an EU seal, since everything seems to have overcome some bureaucratic entanglements that had occurred, may exceed EUR 700 million in six years' time. "opening" about 650 direct jobs and multiple indirect jobs in the region.
In July 2022, the European Commission approved the "Green HiPo" project submitted by Advent Technologies under the Project of Common European Interest ("IPCEI"), with €780 million in aid. € public expenditure, to support research, innovation and first industrial development in the hydrogen value chain.
The "green" Greek bet
Green HiPo aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units to generate electricity and green hydrogen, respectively. Through Green HiPo, Advent wants to turn Greece into an example of how a small country can be a producer and not just a consumer of knowledge and innovation.
It is worth noting that the promising hydrogen, although still in its infancy, is estimated to cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The electrolysis plants produced through the project will be exported to Europe, contributing to the EU's target of producing 10 million tonnes of renewable hydrogen by 2030 and globally.
At the same time, the membranes and fuel cells expected to be produced through the project aim to play a leading role in the electrification of the aircraft, ships and trucks of the future.
Advent already maintains strategic partnerships with giant companies such as Airbus, Hyundai Motor Company and Siemens Energy.
Advent has specialized in high-performance fuel cell technology. Fuel cells use hydrogen, natural gas or other forms of clean liquid fuels to produce 'clean' energy.
This technology has multiple uses in automotive, aeronautics and off-grid power generation.
Hydrogen is a versatile energy carrier that can be produced from various renewable sources, such as wind and solar energy. Advent is developing advanced hydrogen production and storage solutions to enable widespread adoption of hydrogen as a clean energy source. These technologies have the potential to revolutionize industries such as transportation, industrial processes and power generation.
At the core of Advent's plans are the new type of HT-PEM fuel cells that the company prefers for aviation, heavy trucks, automotive and marine use.
In 2023, Advent has launched new partnerships, building on existing partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
"Flying" with Airbus
The company last year reached an agreement with Airbus, a global leader in aeronautics, for a joint benchmarking project on an optimized Ion Pair (MEA) electrode system for hydrogen fuel cells it develops.
Airbus will provide financial support to the project and extensive knowledge of the aviation industry. Advent will invest in people, materials, material and external research centers to contribute to the project's objectives. The multimillion-dollar partnership will take place over two years. The aim of the project is to accelerate the development of Advent's technology and compare the Ion Pair MEA with aviation requirements and current and anticipated technological limits in upcoming hydrogen cell aircraft engines.
Hydrogen has been produced and used for over a century, mainly for the production of fertilizers and plastics and for the refining of oil. It has been produced mostly using fossil fuels, especially natural gas. But when production is powered by renewable energy sources, the resulting hydrogen is green hydrogen.
The global green hydrogen market is expected to reach €410 billion. dollars by 2030, according to analysts, which would more than double the current market size. However, its doubters say the fuel is not always sustainable and that how green it is is determined by the energy source used to produce it.
The uses of green hydrogen
Green hydrogen can have a variety of uses in industries such as steelmaking, concrete production, and chemical and fertilizer production. It can also be used to generate electricity, as fuel for transport and for heating homes and offices.
Today, hydrogen is mainly used in gasoline refining and fertilizer production. Green hydrogen is produced by the method of electrolysis of water from electricity coming from RES. Solar energy or wind power is usually used.
Green hydrogen has low to zero CO2 emissions. It can be used either for electricity through fuel cells, or in gaseous form for use in transport. Compared to other forms of hydrogen production, it is more expensive at present but certainly the most environmentally friendly.
Advent Technologies Announces Appointment of Naiem Hussain as Chief Financial Officer
January 11, 2024
https://ir.advent.energy/news/news-details/2024/Advent-Technologies-Announces-Appointment-of-Naiem-Hussain-as-Chief-Financial-Officer/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, announced today the appointment of Naiem Hussain as its new Chief Financial Officer pending the completion of the company’s hiring protocols. Formerly serving as Advent’s Chief Investment Officer, Mr. Hussain brings extensive expertise in corporate finance, with a focus on IPOs, fundraisings, and mergers and acquisitions within the energy technology and fuel cell industries. Mr. Hussain is replacing Kevin Brackman, who resigned from his position on January 5, 2024.
Mr. Hussain’s professional journey commenced at ICI plc, where he played a pivotal role in investor relations and corporate planning. He was also involved in the demerger of ICI plc which created Zeneca (now AstraZeneca). Mr. Hussain continued to excel in corporate finance at the investment bank Close Brothers, with a specialization in the energy technology sector. Additionally, he assumed the role of Head of Asset Management and Investment for Imperial Innovations, where he oversaw a substantial portfolio of spin-out companies, focusing particularly on those in fuel cell technologies.
Naiem Hussain brings a wealth of expertise to the fuel cell industry, having served as an appointee Director for Ceres Power plc, and additionally played a pivotal role in fundraisings for Ceramic Fuel Cells plc and significantly contributed to the establishment of the fuel cell joint venture between Johnson Matthey and Anglo Platinum. Furthermore, he led the initial fundraisings for Intelligent Energy plc. A distinguished graduate of Oxford University, Mr. Hussain also holds a degree in Computational Chemistry and is a Fellow Chartered Accountant.
In response to his appointment, Mr. Hussain stated, "I am thrilled to take on the role of CFO at Advent during this crucial phase for the Company. Advent’s innovative fuel cell technology holds immense potential to become a crucial element in various hard-to-abate industries on their path to decarbonization. In the upcoming years, Advent is set to experience substantial growth through initiatives such as the Green HiPo IPCEI project, and I am eager to contribute my long experience in the fuel cell industry to the ongoing success and expansion of the Company."
Dr. Vasilis Gregoriou, Advent’s Chairman and CEO, remarked, "We are delighted to welcome Naiem as our new CFO. His wealth of experience and strategic acumen will undoubtedly enhance our financial capabilities. We eagerly anticipate achieving new milestones together, further solidifying Advent's position as a global leader in the fuel cell and hydrogen technology 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, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Form 8-K
January 11, 2024
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/93023156/form-8-k-current-report
Chief Financial Officer Resignation
On January 05, 2024, Kevin L. Brackman, Chief Financial Officer of Advent Technologies Holdings, Inc., a Delaware corporation (the “Company” or “Advent”), resigned from all of his positions at the Company and its subsidiaries, effective immediately.
Chief Financial Officer Appointment
In connection with Mr. Brackman’s resignation, the Board of Directors of the Company (the “Board”) on January 10, 2024, appointed Naiem Hussain, 56, the Company’s current Chief Investment Officer, to serve as Chief Financial Officer of the Company, pending the completion of the Company’s hiring protocols. Mr. Hussein has served as Advent’s Chief Investment Officer since 2021.
The Company entered into an offer letter with Mr. Hussain pursuant to which Mr. Hussain will receive an annual base salary of $275,000 and the opportunity to earn a performance-based bonus each year. Mr. Hussain will also be eligible to participate in the Company’s equity awards plan, with his grants approved by the compensation committee of the Board.
Any further information required under Item 5.02(c) will be disclosed in a supplemental or amended filing on Form 8-K, as needed.
Is this company toast yet? Looks like management ran this into the ground and bankruptcy or R/S in the future.
Eight actions EUR 217 million euro in the regions of Western Macedonia and Arcadia under lignite phase-out
21:25pm, Wednesday 10/01/2024 | Grevena, Kastoria, Kozani, Florina
Link
The resources of the Just Development Transition Programme, which have been specified since the beginning of the implementation of the programme, amount to approximately EUR 800 million. euro
The new specification issues for the financing of actions with a budget of ECU 217 million will be financed by the Commission. The euro were discussed during the second meeting of the Monitoring Committee that took place recently in Ptolemaida on the implementation of the Just Development Transition Programme (JDP) with the participation of the members of the Special Service for Just Development Transition (EYDAM) and representatives of the European Commission.
Essentially, they concern the following actions in the areas under lignite phase-out:
1. Special Business Subsidy Program for the employment of unemployed, former employees of businesses affected by lignite phase-out in Western Macedonia and Megalopoli (73 million euros)
2. Just Development Transition Holding Fund to support both small and medium-sized enterprises and large enterprises (€70 million)
3. Innovation zone in Western Macedonia (€8 million),
4. Rehabilitation and regeneration works at Vegora mine (EUR 4 million)
5. Workforce empowerment interventions (€18 million),
6. Individualised intervention programme for unemployed young people (EUR 34 million),
7. Upgrading and expansion of social and welfare services in the Region of Western Macedonia (€8 million)
8. Operation of EFEPAE (Intermediate Body of the Operational Programme "Competitiveness and Entrepreneurship") to support the Special Service for Just Development Transition in actions related to state aid (€ 2 million). euro).
Including these specification documents, the resources of the Just Development Transition Programme which, since the beginning of the programme's implementation, amount to approximately EUR 800 million. (out of a total of around €1.63 billion).
Financial instruments
According to an assessment by the Green Tank, which is a member of the Monitoring Committee, the formulation of a financial instrument amounting to EUR 70 million will be a major step forward. The euro to support small and medium-sized enterprises is in a positive direction. "The possibility of developing financial tools within the framework of the Program, as highlighted by the establishment of a Just Transition Holding Fund, can be exploited in other sectors as well" and in particular, according to the Green Tank, for the formation of a special youth fund to support youth business plans in these regions.
More generally, regarding the implementation of the Just Development Transition Program in its first year of operation, the Green Tank singles out the first funding program for self-production projects with storage by energy communities in Greece, which concerns municipalities and related bodies in transition areas, amounting to €41.8 million. euro. However, it considers it necessary to finance corresponding projects of citizens and small and medium-sized enterprises given that needs are increased, especially in Western Macedonia.
Self-production with storage
Also particularly noteworthy is the €12 million funding program for heat pumps and self-production systems with storage in Western Macedonia. Although the available resources are disproportionately few in relation to the needs for such systems in Western Macedonia.
On the action for young people amounting to EUR 8.34 million. 600 young people will benefit (432 in Western Macedonia and 168 in the Peloponnese).
However, according to GreenTank, young people who are not employed, educated or educated are estimated at around 12,000 in Western Macedonia alone. Indeed, according to Eurostat data analyzed by the Green Tank, Western Macedonia is well above the average of the 96 EU-27 coal regions in terms of the number of this group of young people.
www.worldenergynews.gr
Advent Technologies Secures Funding from Danish Energy Technology Development and Demonstration Program for Innovative R&D Project
January 8, 2024
https://ir.advent.energy/news/news-details/2024/Advent-Technologies-Secures-Funding-from-Danish-Energy-Technology-Development-and-Demonstration-Program-for-Innovative-RD-Project/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is delighted to announce that its subsidiary, Advent Technologies, A/S, has secured funding approval for its latest research and development project from the Danish Energy Technology Development and Demonstration Program (“EUDP”).
The project, titled 'Modular Efficient Power Generation with Advanced Fuel Cell Power Converters', has secured total funding of approximately $1.83 million and is scheduled to kick off in the second quarter of 2024, spanning a three-year duration. Funded by EUDP—a Danish organization committed to supporting private companies and universities in developing and demonstrating innovative energy technologies, in compliance with EU state aid rules—the project will be overseen by a consortium that will also include Aalborg University – Department of Energy, TKT Electronics ApS and DanTrafo A/S.
This initiative will pioneer the development of a cutting-edge modular, scalable, and high-density DC-DC power converter, specifically tailored for Advent's next-generation High-Temperature Proton Exchange Membrane (“HT-PEM”) fuel cell applications. Advent's next-generation HT-PEM fuel cell applications are built on the groundbreaking Ion-Pair™ Membrane Electrode Assembly (“MEA”) technology. This technology is currently commercialized by Advent, made available through the Company’s participation in the U.S. Department of Energy’s L’Innovator™ program, and developed in collaboration with top-tier U.S. research institutions, such as Los Alamos National Laboratory, Brookhaven National Laboratory, and, the National Renewable Energy Laboratory.
Advent’s Ion-Pair™ MEA technology aims to revolutionize the global fuel cell market by extending the expected lifetime of fuel cells to at least three times longer and delivering double the power density of Advent's earlier fuel cell systems. This makes them ideal for heavy-duty mobility applications. Manufacturing of these fuel cell systems will take place in Kozani, Greece, as part of the EU-approved Green HiPo IPCEI Project. Green HiPo encompasses the development, design, and manufacture of HT-PEM fuel cell systems and electrolyzer systems for the production of power and hydrogen, respectively. Green HiPo will significantly contribute to the region of Western Macedonia’s transition from a coal-based economy to a greener economic model, with a new state-of-the-art facility in Kozani serving as the production hub for fuel cells and electrolysers.
Morten Sørensen, Senior Vice President of Advent Technologies A/S, commented: “Today marks a significant stride forward in propelling our innovative fuel cell technology, which we believe stands as the future of clean energy, presenting substantial potential for decarbonizing hard-to-abate sectors that were previously resistant to change with available technologies. We express our gratitude to EUDP for placing their trust in our vision and eagerly look forward to embarking on a collaborative journey with our esteemed project partners. Collectively, we strive for the successful completion of this project, taking us a step closer to a future where HT-PEM fuel cell technology sets the standard in fuel cell usage.”
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.
Greece unveils new Portfolio Fund to support SMEs and startups
Thursday, 04-Jan-2024
https://www.capital.gr/english/3759103/greece-unveils-new-portfolio-fund-to-support-smes-and-startups/
National Economy and Finance Alternate Minister Nikos Papathanasis and the chairman and CEO of Hellenic Development Bank George Zavvos on Thursday signed a funding agreement for the creation of a new Portfolio Fund "TEPIX III" to support the development of small- and medium-sized enterprises and startups.
The initial budget of the Fund will be 500 million euros, which it is expected to rise up to 2.1 billion euros with leverage from the banking system. The Fund's goal is to create funding tools for the support and development of SMEs, medium-cap enterprises and startups and to facilitate access to funding sources. "TEPIX III" is included in the "Competition" Program of the National Plan for Regional Development 2023-2027 and it is co-funded by the European Fund for Regional Development.
Big deal for Greece – In which area will the new fuel cell plant be built?
CAR & MOTOR TEAM
02 JAN 2024
https://www.carandmotor.gr/nea/megalo-deal-ellada-ergostasio-kypselon-kaysimoy
The time for the implementation of the "green" hydrogen production plant in an area of our country is now counting down.
To one of the protagonists in his technology "green" hydrogen Our country will evolve, once the production unit of a new type of fuel cell HT-PEM is implemented on a plot of land in Kozani.
The project – under the name "Green HiPo" – will be carried out in the framework of a bilateral partnership between US-based Advent Technologies and Germany's BASF, with the relevant agreement to be signed in last summer.
In particular, the modern industrial plant to be built in Western Macedonia aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units for the production of electricity and green hydrogen, respectively.
Advent believes that the new type of HT-PEM fuel cells are a superior choice for aviation, heavy trucking, automotive and marine use. Green HiPo has a six-year implementation axis and is expected to create 650 jobs.
"This partnership will enable the combination of Advent's expertise in fuel cell systems with BASF's expertise in catalyst and membrane development, creating a strong synergy that will lead to new innovative solutions in the fuel cell industry," said Dr. Vasilis Gregoriou, President and CEO of Advent Technologies.
Green HiPo is an Important Project of Common European Interest (IPCEI), which, according to recent statements by Mr. Gregoriou, faced delays in 2023, but is now in the final stretch to begin to take shape.
We must not forget that the Ministry of Infrastructure and Transport, in addition to electromobility, focuses on the use of hydrogen as a transport fuel, as it is available and environmentally friendly, while it is estimated that it can cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The Ministry of Infrastructure and Transport has the decisive responsibility for the licensing and operation of fuel stations, which are necessary in order to advance hydrogen power in our country.
Regarding Advent, in 2023 it launched new – and forged existing ones – partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
European Commission: Paid Greece the 3rd tranche of the TAA, amounting to €3.64 billion.
From Newsroom, 28 Dec 2023
https://www.powergame.gr/ikonomia/572958/komision-pliromi-364-dis-stin-ellada-sto-plaisio-tou-rrf/
The Commission has today disbursed payments to Greece and five other Member States under the Recovery and Resilience Facility (RRF). The European Commission has made the third payment to Greece, amounting to €3.64 billion. (€1.69 billion in non-repayable financial support and €1.95 billion in loans, excluding pre-financing).
On 16 May 2023 and 22 November 2023, Greece submitted to the Commission the third payment request for non-repayable support and the third payment request for loans, respectively, covering 39 milestones and four targets. Greece's comprehensive recovery and resilience plan will be financed by €35.95 billion. with €18.22 billion in non-repayable support. EUR 17.73 billion and loans euro.
European Commission: Level of payments in Germany, Italy, Portugal, Slovakia, Slovenia
Germany received the first payment, amounting to ECU 4 million. euro. The Commission has also made Italy the fourth payment of EUR 16.5 billion. € of non-repayable financial support and loans (excluding pre-financing).
At the same time, the Commission disbursed to Portugal the third and fourth combined payments for €2.46 billion. € non-repayable financial support and loans (excluding pre-financing). The Commission has made Slovakia its third payment of €662 million. EUR 225.91 million in grants for non-repayable financial support (excluding pre-financing), while the second payment was made to Slovenia for EUR 225.91 million. €310.09 million of non-repayable financial support (excluding pre-financing) and €310.09 million euro of repayable support.
"Despite the delays, Green HiPo is in the final stretch," says Vasilis Gregoriou, President & CEO of Advent
Last updated: 2023/12/29
https://xronos-kozanis.gr/para-tis-kathysteriseis-to-green-hipo-einai-stin-teliki-eftheia-tonizei-o-vasilis-grigoriou-einai-proedros-diefthynon-symvoulos-tis-advent/
In his article in energypress, Vasilis Grigoriou President & CEO of Advent Technologies Holdings, Inc. confirmed that Green HiPo, the company's investment in our region, is now in the final stretch, despite long delays in 2023.
Green HiPo will take place in the area of Kozani and aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units for the production of electricity and green hydrogen, respectively.
In detail, Mr. Gregoriou's article entitled "The role of hydrogen in Europe's path towards zero carbon emissions and energy independence":
In addition to the warmest year on record, 2023 was a year of significant developments in the energy sector and ambitious actions to tackle the climate crisis. Just a few days ago, the 28th United Nations Climate Change Conference (COP28) ended, where 117 countries signed an agreement with the goal of tripling renewable energy by 2030. European Commission President Ursula von der Leyen said the deal "marks the beginning of the post-fossil fuel era".
In Europe, total gas imports from Russia fell to around 80 bcm in 2022, and to around 40-45 bcm in 2023, compared to 155 bcm per year before the energy crisis. In addition, 39% of 2022 electricity in the EU was generated from renewable sources and, in May 2023, wind and solar surpassed total electricity generation from fossil fuels for the first time. In parallel, in 2023 the EU agreed on new higher clean energy targets in line with the REPowerEU plan and the European Green Deal. In particular, the share of renewables in the EU's final energy consumption is expected to increase to 42.5% by 2030.
Undoubtedly, hydrogen is coming to take on the role of protagonist in this transitional period for Europe. The reason is simple: hydrogen offers the EU an important opportunity to redefine its geopolitical energy dynamics, shifting the focus from ensuring access to energy resources to creating them. However, it is important to separate the different types of hydrogen. Grey hydrogen, derived from fossil fuels, is likely to be phased out, while blue hydrogen, produced when the process of reforming natural gas is combined with carbon capture and storage (CCS) technology, will only have a transitional role. The most environmentally friendly option is green hydrogen, produced from renewable sources such as solar and wind energy, through the process of electrolysis. Mass production of green hydrogen is essential to decarbonise polluting industries such as steel, fertilisers, refineries and transport.
At the same time, fuel cells — electrochemical motors that convert hydrogen and other renewable fuels into clean electricity — have already begun replacing polluting diesel generators in sectors such as telecommunications and critical infrastructure. At the same time, fuel cells are expected to play an important role in electrifying the commercial ships, trucks and aircraft of the future.
2023 was a landmark year for Advent Technologies, as the company launched new – and strengthened existing – partnerships with companies leading the global clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company. In particular, Advent will contribute to Airbus' goal of bringing the first hydrogen-powered passenger aircraft to market. To achieve this, the Airbus team is expected to leverage Advent's technology to create an electric propulsion system for the aircraft, which will be powered entirely by fuel cells. In shipping, Advent is working with Siemens Energy from early 2023 to install fuel cells in hybrid power supply systems (e.g. combined with batteries) of ships, replacing existing diesel generators. Within 2024, it's also worth noting that Advent's fuel cells will be installed on Sanlorenzo's superyacht. In addition, through a technology development agreement announced in early 2023, Advent's technology is currently being leveraged by Hyundai Motor Company for widespread future use in stationary and/or heavy-duty vehicle applications.
With its strategic location and ideal weather conditions, Greece has all the tools to become a strategic hub for the European hydrogen industry. However, the country still faces challenges and problems that were not resolved in 2023, with one of the most important being the lack of a clear hydrogen strategy. At the same time, in 2023 there were significant delays in the final funding of IPCEIs projects with Greece as the implementing area. One of these projects is Green HiPo by Advent Technologies. Green HiPo will take place in the area of Kozani and aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units for the production of electricity and green hydrogen, respectively. Despite the delays we faced in 2023, the implementation of the project is now in the final stretch.
At such a crucial moment for Europe's energy future, hydrogen comes to reduce the constant need to cultivate "energy relationships" with external suppliers and make the EU energy autonomous and "resilient" in the long term. The timely implementation of all hydrogen projects in Europe is of paramount importance to achieve its ambitious energy targets. It is the duty of all of us to actively support Europe's effort and turn Greece into an example of how a small country can be a producer and not only a consumer of knowledge and innovation.
Form 424B5 - Prospectus [Rule 424(b)(5)]
December 27 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/92895349/form-424b5-prospectus-rule-424b5
PROSPECTUS SUPPLEMENT
(To Prospectus dated May 2, 2023)
ADVENT TECHNOLOGIES HOLDINGS, INC.
10,000,000 shares of Common Stock
This prospectus supplement and the accompanying prospectus relate to the offer and sale of 10,000,000 shares of our Common Stock, par value $0.0001 per share (the “Common Stock”). Shares of our Common Stock to which this prospectus supplement relates will be issued in a privately negotiated transaction pursuant to the terms of a Securities Purchase Agreement we have entered into with John Nash, Scott Dols, Timothy Beckett, the Kantor Family Trust, BJI Financial, and the Cavalry Fund (collectively, the “Purchasers”). We are offering the Common Stock at a combined purchase price of $2,000,000.
Our Common Stock is listed on the Nasdaq Capital Market under the symbol “ADN.” On December 26, 2023, the last reported sale price of our Common Stock on the Nasdaq Capital Market was $0.2033 per share.
We have engaged Joseph Gunnar & Co., LLC (the “placement agent”) to act as our exclusive placement agent in connection with this offering. The placement agent has agreed to use its reasonable best efforts to arrange for the sale of the securities offered in this offering. The placement agent is not purchasing or selling any of the securities we are offering, and the placement agent is not required to arrange the purchase or sale of any specific number of securities or dollar amount. There is no required minimum number of securities that must be sold as a condition to completion of this offering, and there are no arrangements to place the funds in an escrow, trust, or similar account. See “Plan of Distribution” beginning on page S-18 of this prospectus supplement for more information regarding these arrangements.
JDB, can you elaborate? Only a 17% dilution.
oops this stock aint worth shit wow
Advent Technologies Announces $2 Million Registered Direct Offering of Common Stock
December 22, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Announces-2-Million-Registered-Direct-Offering-of-Common-Stock/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, today announced that it has entered into securities purchase agreements with institutional and accredited investors to purchase 10,000,000 shares of common stock in a registered direct offering at a per share purchase price of $0.20, resulting in gross proceeds of $2,000,000.
The transaction is expected to close on or about December 27, 2023, subject to the satisfaction of customary closing conditions.
Joseph Gunnar & Co., LLC is acting as the exclusive placement agent for the offering.
The shares of common stock in the registered direct offering were offered pursuant to a "shelf" registration statement on Form S-3 (File No. 333-271389) initially filed with the Securities and Exchange Commission (the "SEC") on April 21, 2023, and declared effective by the SEC on May 2, 2023. The offering of common stock was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Joseph Gunnar & Co., LLC Attention: Syndicate Department at 40 Wall Street, Suite 30, New York, NY 10005 or by telephone at (212) 440-9600.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
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, visitwww.advent.energy.
Advent Technologies Launches Portable Clean Power Solution for Construction and EV Charging Applications
December 20, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Launches-Portable-Clean-Power-Solution-for-Construction-and-EV-Charging-Applications/default.aspx
The Company is organizing an exclusive webinar in collaboration with Mission Hydrogen to introduce its new product line on February 7, 2024
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to unveil the SereneP, a cutting-edge product line set to redefine portable power solutions with a particular focus on construction and EV charging applications.
Advent’s SereneP offers unparalleled flexibility, configurable to exact power needs ranging from 10kVA to 300kVA. It combines a battery and a fuel cell, and operates seamlessly on liquid green fuels like methanol, biomethanol, or eMethanol. SereneP can be readily mobilised to a diverse range of locations, ensuring power where it's needed the most.
- Construction sites, and EV charging station Applications: SereneP caters to a wide array of power applications, including construction sites, remote EV charging stations, microgrid support, critical infrastructure applications, events, and concerts, as well as providing reliable backup power for buildings and camps.
- Environmental Benefits: SereneP is the epitome of eco-friendly power generation, offering 80% CO2 emissions reduction with biomethanol and up to 100% reduction in CO2 emissions with eFuel use when compared to traditional fossil fuel power sources. SereneP outperforms battery-only systems charged from the grid in many countries and regions in terms of net emissions. The system’s load-following capabilities ensure optimal fuel efficiency while dynamically adjusting power output to match specific load requirements, reducing operational costs and environmental impact.
- Rugged and Reliable: Engineered to withstand diverse environments, SereneP functions flawlessly in ambient temperatures ranging from -20°C to 50°C. Its reliance on liquid green fuels ensures simple and cost-effective logistics.
- Competitive: Battery-only systems are not ideal for off-grid applications because they require continuous relocation to the grid or other power source for recharging. Diesel generators emit harmful emissions and noise, as well as representing substantial risk of fuel theft. Pure hydrogen systems incur substantial costs associated with fuel sourcing, storage, and transportation in off-grid locations. SereneP, in contrast, addresses all of these challenges by leveraging the advantages of liquid eFuels, offering a cost-effective and environmentally friendly solution with significant carbon reductions, and virtually unlimited capacity.
Unlike traditional grid charging, SereneP's fuel cell charges its batteries, enabling virtually limitless green power generation even during grid outages, dependent only on the availability of liquid green fuel. The Methanol Institute is tracking over 801 global projects focused on renewable methanol, projecting an annual output of eMethanol and Biomethanol in excess of eight million metric tons by 2027. In addition, Advent has established a global network of fuel suppliers, guaranteeing its clients a steady methanol supply for SereneP.
In Denmark, 14 of the largest public sector builders have signaled that they will impose a requirement for contractors to use emission-free work machines at building and construction project sites. As a significant advancement in addressing this need, the SereneP product line was officially introduced in November 2023 by Advent, during an event organized by Denmark's National Centre for Public-Private Sector Innovation in Copenhagen. Furthermore, the UK also aims to eliminate diesel use on most construction sites. Currently, around 300,000 Non-Road Mobile Machinery2 units in the UK construction industry run on diesel, consuming 2.5 million tons of oil equivalent and producing significant carbon emissions. The Zero Diesel Sites Route Map outlines steps to reduce this volume by 78% by 2035, in line with the UK's 2021 Sixth Carbon Budget goals.
Dr. Vasilis Gregoriou, Advent’s Chairman and CEO, commented: “We are confident that SereneP is well-positioned to efficiently replace diesel generators in construction and other global applications. Recognizing a specific market need within the construction rental sector, where upcoming regulations are expected to prohibit diesel gensets, SereneP is ideally positioned as a valuable solution available today. We are currently engaged in discussions with industry-leading companies looking to phase out diesel, who view SereneP as the way forward. As a result, SereneP becomes an integral component of our sales strategy, allowing us to play a pivotal role in meeting the evolving demand for clean and highly portable power across construction and beyond."
In partnership with Mission Hydrogen, Advent is proud to host an exclusive webinar on February 7, 2024, focused on introducing SereneP. Secure your spot by registering for the event: https://event.webinarjam.com/register/846/34lyrhl3w. To explore specific models within Advent's cutting-edge SereneP product line, access our newly-published brochure by clicking here.
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.
Advent Technologies Secures €1.8 Million Frame Contract with Volta Energy for the Supply of Methanol-Powered Fuel Cell Units
December 18, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Secures-1.8-Million-Frame-Contract-with-Volta-Energy-for-the-Supply-of-Methanol-Powered-Fuel-Cell-Units/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 the signing of a new frame contract with Volta Energy. Volta Energy, a Dutch company founded by brothers Roel and Luc Bleumer, specializes in the development of hybrid mobile power products and offers total mobile energy supply solutions to sectors such as construction, festivals, and events. Under the terms of the agreement, Advent will supply its methanol-powered fuel cell units (“Serene”) to Volta Energy as a novel, green, power source in its product offerings.
Following a highly successful testing phase in which Advent supplied its Serene fuel cells to Volta Energy, the two companies are advancing to the next phase of their collaboration. The total initial value of the new contract is €1.8 million, and deliveries are set to begin in January 2024. The supply chain is expected to remain active throughout 2024, in line with the customer's specified timeline.
Advent’s fuel cell units will serve as sustainable backup power solutions, seamlessly taking over when conventional solar photovoltaic energy systems are inoperable or offer reduced power output due to adverse weather conditions such as heavy cloud cover or rain. By replacing traditional diesel generators and working in conjunction with photovoltaic energy systems and batteries, Advent’s Serene fuel cells ensure a continuous and reliable power supply to meet Volta Energy’s remote system power needs. Utilizing liquid methanol as a hydrogen carrier fuel, Serene fuel cells offer distinct advantages in transportation, logistics, and storage efficiency compared to gaseous hydrogen, thereby enhancing overall operational safety.
Noteworthy features of Advent’s Serene fuel cells include their compact footprint, approximately a third of that required by a typical diesel generator. In addition to their environmental benefits in terms of reduced emissions and near-silent operation, Serene fuel cells provide uninterrupted power across diverse environmental conditions and geographical locations. Operating seamlessly at ambient temperatures, these fuel cells are designed to function efficiently even in humid and polluted air, showcasing their exceptional adaptability.
Morten Sørensen, Senior Vice President of Advent Technologies A/S, commented, "We are proud to enter into the next phase of our collaboration with Volta Energy. Leveraging the expertise of their team, and with valuable support from Advent, we achieved the efficient integration of the methanol-power units in just a few weeks. This successful collaboration has yielded a tangible, real-life product that not only delivers environmentally friendly energy during sunny days but also consistently performs on cloudy days. This resilience significantly enhances the value proposition of Volta Energy’s products, providing customers with a reliable and sustainable energy solution throughout the entire year.”
Roel Bleumer, Co-founder, and Co-CEO of Volta Energy, commented: “We are pleased to incorporate Advent's green power solution into our portfolio, replacing the diesel genset in our solution and serving as a supplementary power generator for our PV energy systems. Our hybrid products, ranging from 6 to 120 kVA, cater to both temporary consumption with peak power (peak-shaving) and long-term use. We strongly believe in the role of methanol as an excellent hydrogen carrier, and we are confident that Advent's innovative products will enhance our offerings."
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.
Great DD as usual, thanks.
Fuel Cells in Aerospace and Defense Market Size is expected to reach USD 2,379.50 Million by 2031, Growing at a CAGR of 31.0% | Econ Market Research
Dec 14, 2023
https://icrowdnewswire.com/2023/12/14/fuel-cells-in-aerospace-and-defense-market-size-is-expected-to-reach-usd-2379-50-million-by-2031-growing-at-a-cagr-of-31-0-econ-market-research/
Advent to Boost Production of US DoD’s Portable Fuel Cell Power Source
DECEMBER 15, 2023
https://www.thedefensepost.com/2023/12/15/us-fuel-cell-power-source-production/
Energy solutions provider Advent Technologies has received a $2.8-million contract for the US Department of Defense’s fuel cell power source production.
The agreement orders the development of advanced manufacturing methods to enhance production capacity while sustaining the quality of the company’s Honey Badger 50 (HB50) system.
HB50 is a compact, portable fuel cell solution that powers military assets such as surveillance systems, communication devices, and laptops for covert operations.
The power source leverages thermal capabilities to secure missions in ambient environments with temperatures from under zero to more than 40 degrees Celsius (32-104F).
It uses liquid, biodegradable methanol as hydrogen carrier fuel to support the US military’s lightweight electricity generation requirements for modern warfare.
Additionally, HB50 is equipped with Advent’s proprietary Ion Pair Membrane Electrode Assembly that aids the fuel cell solution with electrochemical reactions to separate electrons.
This approach allows HB50 to deliver dependable power for critical off-grid field applications.
“This new contract is a resounding testament to the DoD’s unwavering confidence in Advent’s innovative fuel cell technology as the go-to portable power solution for critical defense applications,” Advent Technologies CEO and Chairman Dr. Vasilis Gregoriou stated.
“We are delighted that the DoD has chosen Advent as a pivotal partner in its clean energy journey. The entire Advent team eagerly anticipates the substantial impact that HB50 will make as we remain at the forefront of portable fuel cell advancements.”
Tactical Expeditionary Energy Generation for US Army
The award follows an initial $2.2-million contract signed with Advent in September 2023 for the Soldier Tactical Expeditionary Power – Energy Generation Services initiative.
This project seeks modernized storage, distribution, and management of energy capabilities to support the US Army’s “demanding defense mission requirements.”
“We firmly believe in a world where fuel cells become the primary power option for challenging defense mission requirements, and we very much look forward to contributing to this new reality with our portable fuel cells,” Advent Technologies General Manager Vasilis Kopelas said during the September awarding.
“This enhanced version with Advent’s Ion Pair technology will set new benchmarks for fuel cell efficiency, longevity, and power density, providing reliable power both practically and sustainably for critical field operations.”
Advent Technologies Secures Additional New Contract worth $2.8 Million from U.S. Department of Defense for its Portable Fuel Cell System
December 14, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Secures-Additional-New-Contract-worth-2.8-Million-from-U.S.-Department-of-Defense-for-its-Portable-Fuel-Cell-System/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is delighted to announce that its subsidiary, Advent Technologies, LLC, has secured an additional new $2.8 million contract with the U.S. Department of Defense (DoD). This milestone achievement augments Advent’s $2.2 million contract that was announced on September 7, 2023, which focuses on finalizing the design of the Honey Badger 50™ (“HB50”) portable fuel cell system through the integration of the Company’s innovative Ion Pair Membrane Electrode Assembly (“MEA”) technology.
Under this new defense contract which comes under the umbrella of the Envision Innovative Solutions (‘’EIS’’), Advent will develop advanced manufacturing processes to enable a substantial increase in the production capacity while maintaining quality of the HB50 system. This new project is aligned with Advent’s and the DoD’s shared objective to strengthen their long-term collaboration and transform HB50 into a portable and clean source of power.
Since 2020, Advent Technologies, LLC has diligently refined the HB50 fuel cell system, resulting in a highly portable and efficient power source. Rigorous development efforts have significantly reduced the size and weight of the original 50W portable fuel cell, as validated by successful field tests in 2022 and 2023, confirming its operational suitability.
Fueled by biodegradable methanol, the compact HB50 seamlessly powers applications such as communication devices, surveillance systems and laptops, making the HB50 ideal for covert operations. Its thermal capabilities ensure reliable operation across ambient temperatures from below freezing to over 40°C. HB50's adaptability to liquid methanol as a hydrogen carrier fuel aligns perfectly with the DoD's pursuit of lightweight and portable power solutions.
Advent Technologies envisions the widespread use of the HB50 portable fuel cell system across many sectors such as defense, robotics, agriculture, drones, emergency operations, and leisure and camping. The enhanced HB50 version, integrated with Advent's Ion Pair™ MEA technology, is expected to set new industry standards in fuel cell efficiency, longevity, and power density, providing dependable and sustainable power solutions for critical field operations.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, commented, "This new contract is a resounding testament to the DoD's unwavering confidence in Advent's innovative fuel cell technology as the go-to portable power solution for critical defense applications. We are delighted that the DoD has chosen Advent as a pivotal partner in its clean energy journey. The entire Advent team eagerly anticipates the substantial impact that HB50 will make as we remain at the forefront of portable fuel cell advancements."
Vasilis Kopelas, General Manager of Advent Technologies, LLC, added, “We are deeply honored to fortify our partnership with the U.S. Department of Defense, propelling our mission to revolutionize portable fuel cell technology. This new contract signifies yet another remarkable leap towards mass production, empowering us to provide sustainable power solutions that are efficient, reliable, and truly transformative for the most critical field operations.”
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.
Economy: Three positive news for Greece from Eurogroup and ECOFIN
December 8, 2023
https://www-ot-gr.translate.goog/2023/12/08/oikonomia/oikonomia-treis-thetikes-eidiseis-gia-tin-ellada-apo-eurogroup-kai-ecofin/?_x_tr_sl=auto&_x_tr_tl=fi&_x_tr_hl=fi&_x_tr_pto=wapp
Key quote:
"Specifically, at the Eurogroup meeting, which took place on Thursday 7/12, the Draft Budgets of the euro area Member States for 2024 were approved, with Greece being one of the 7 countries whose Budget was judged to be fully aligned with the Eurozone policy guidelines."
Gas package: Council and Parliament reach deal on future hydrogen and gas market
8 December 2023
https://www.consilium.europa.eu/en/press/press-releases/2023/12/08/gas-package-council-and-parliament-reach-deal-on-future-hydrogen-and-gas-market/
The Council and the Parliament today reached a provisional political agreement on a regulation that establishes common internal market rules for renewable and natural gases and hydrogen. The purpose of the legislation is to facilitate the penetration of renewable and low-carbon gases into the energy system, in particular hydrogen and biomethane.
This agreement will bring many benefits for consumers and for our planet. It will cut our use of fossil fuels and reduce our dependency on imported fossil fuels. It will enable a switch to renewable energy and strengthen security of supply. And importantly it will protect consumers.
The regulation is part of the hydrogen and gas markets decarbonisation package, which also includes a directive. Both the regulation and the directive are part of the Fit for 55 package. They are aimed at creating a regulatory framework for dedicated hydrogen infrastructure and markets and integrated network planning. They also establish rules for consumer protection and strengthen security of supply. The Council and the Parliament reached a provisional agreement on the directive on 27 November 2023.
Amendments to the regulation agreed by Council and Parliament
The provisional agreement provides for a separate new entity in the hydrogen sector: an EU entity for Hydrogen Network Operators (ENNOH). It will be independent of the existing European Network of Transmission System Operators for Gas (ENTSOG) and the European Network of Transmission System Operators for Electricity (ENTSOE), while taking advantage of synergies and cooperation between the three sectors.
Both institutions agreed to extend the demand aggregation/joint purchasing mechanism for gas adopted during the energy crisis, though participation by gas undertakings must be fully voluntary. Gas undertakings established in Energy Community countries may participate in the mechanism as purchasers, while supplies from Russia or Belarus are excluded. In addition, the Council and the Parliament agreed on creating a voluntary mechanism for support to market development for hydrogen, with the aim to facilitate the tasks carried out by the European Commission under the European Hydrogen Bank.
The regulation will contain provisions allowing member states to adopt restrictions to the supply of natural gas, including liquefied natural gas (LNG), from Russia or Belarus, with the aim of protecting the essential security interests of the member states or of the EU, while taking account of security of supply and diversification objectives.
On solidarity, the Council and the Parliament agreed to establish default provisions to operationalise the solidarity principle in case of a crisis, where bilateral agreements are not in place. The agreement also includes the establishment of a cross-border conciliation mechanism for an ex-post revision of compensation, the voluntary reduction of non-essential consumption by protected customers, and safeguards for cross-border flows. In addition, the provisional agreement provides a voluntary mechanism, whereby on the basis of a request for solidarity by a member state, another member state not directly connected may also provide volumes of gas by applying market-based measures.
Concerning network tariffs, both institutions agreed that for the hydrogen market every national regulatory authority must consult the neighbouring national regulatory authorities on the draft tariff methodology and submit it to the Agency for the Cooperation of Energy Regulators (ACER). Each national regulatory authority will maintain the right to set its own tariff. Moreover, upon request by a national regulatory authority, ACER may propose solutions by means of a non-binding factual opinion. ACER will also inform the Commission of the outcome of such a request.
Finally, the Council and the Parliament recognised the EU's ambition to increase production of biomethane.
Next steps
The provisional agreement reached today with the European Parliament now needs to be endorsed and formally adopted by both institutions.
Background
The regulation is part of the hydrogen and gas markets decarbonisation package, which also includes a directive. The Council and the Parliament have already reached on 27 November a provisional political agreement on the directive.
The Commission presented the proposals on 15 December 2021 as part of the second batch of proposals under the Fit for 55 package, which aims to align EU climate and energy laws with the EU's target to reduce greenhouse gas emissions by at least 55% by 2030 and its goal to become climate-neutral by 2050.
Fuel Cell Technologies Overview
Dr. Dimitrios Papageorgopoulos, HFTO – Fuel Cell Technologies Program Manager
2023 Annual Merit Review and Peer Evaluation Meeting
June 6, 2023 – Arlington, VA
https://www.hydrogen.energy.gov/docs/hydrogenprogramlibraries/pdfs/review23/fc000_papageorgopoulos_2023_o.pdf
From Vision to Action: The Evolution of the Hydrogen Sector in the U.S., Europe and Greece
By Vasilis Gregoriou, CEO Advent Technologies
12.06.2023
https://www.tovima.com/opinions/from-vision-to-action-the-evolution-of-the-hydrogen-sector-in-europe-and-the-u-s/
Greece stands on the cusp of becoming a pivotal hub for the European hydrogen and fuel cell sector, but the nation faces critical challenges that demand urgent attention and strategic planning.
As geopolitical events and escalating energy prices reshape the global stage, a decisive shift towards clean energy has gained unprecedented momentum in Europe. This shift not only responds to these geopolitical challenges but underscores the pressing need for rapid decarbonization and energy independence. Simultaneously, the United States has embarked on a historic journey to combat climate change. The U.S. Inflation Reduction Act, enacted in August 2022, stands as a landmark climate legislation, allocating $369 billion for climate investments.
Undoubtedly, hydrogen plays a central role in this transformative shift. The reason is clear: Hydrogen offers nations and continents a significant opportunity, changing geopolitical energy dynamics by moving the focus from securing access to resources to creating them.
Green hydrogen, the cleanest form produced from renewable sources like solar and wind power via electrolysis, is crucial for decarbonizing various sectors, including steel, fertilizers, refineries, and transportation. Simultaneously, fuel cells—electrochemical devices that convert hydrogen and other renewable fuels into clean electricity—are already replacing polluting diesel generators in areas such as telecommunications and critical infrastructure. Looking ahead, fuel cells will play a significant role in electrifying commercial ships, trucks, and aircraft. To effectively combat climate change, it’s essential to ramp up green hydrogen production and accelerate the widespread adoption of fuel cells.
As the 28th Climate Change Conference (COP28) unfolds in Dubai, hydrogen takes center stage in global discussions. Sultan Al Jaber, the President-Designate of COP28, emphasizes the necessity of reducing both the demand for and supply of fossil fuels to combat climate change. In a letter dated October 17, 2023, he advocates for collaborative efforts to reduce greenhouse gas emissions by 22 gigatons within the next seven years.
Europe aims to achieve a total of 20 million tons of renewable hydrogen by 2030, with the goal of producing 10 million tons domestically and importing an additional 10 million tons. The Important Projects of Common European Interest (IPCEI) serve as the means to achieve its production target, fostering collaboration among European countries and industry stakeholders. These projects focus on developing and deploying hydrogen-related technologies, addressing challenges in production, storage, distribution, and utilization. While some approved projects are progressing, funding challenges hinder others, posing obstacles to Europe’s hydrogen objectives.
President Von der Leyen’s announcement of the European Hydrogen Bank in 2022 marked a significant step. This internal financing tool aims to boost private investments in hydrogen value chains and renewable energy supply with EU demand, addressing initial investment hurdles. At the European Hydrogen Week in Brussels (November 20-23, 2024), noteworthy developments unfolded. President Von der Leyen outlined plans for the €2.2 billion second European H2 Bank auction in Spring 2024. She also disclosed a collaboration with the Brazilian State of Piaui for a 10GW green hydrogen facility, part of a €2 billion investment in Brazil’s hydrogen value chain under the Global Gateway initiative. Additionally, EC Executive Vice President Maroš Šefcovic highlighted the prioritization of hydrogen in the European Commission’s climate and industrial policy, pledging to tackle sector-specific challenges. Simultaneously, European Commissioner for Climate Action, Wopke Hoekstra, initiated an €800 million auction, marking the initial phase of the European Hydrogen Bank. Europe is seriously committed to advancing the hydrogen sector, learning from past setbacks with Photovoltaics.
With its strategic location and ideal weather conditions, Greece stands on the cusp of becoming a pivotal hub for the European hydrogen and fuel cell sector. However, the nation faces critical challenges that demand urgent attention and strategic planning.
Firstly, Greece is in the minority among European member states, lacking a defined hydrogen strategy. This absence poses a significant barrier to unlocking the benefits of hydrogen technologies, necessitating immediate action to develop a comprehensive strategy aligning with European goals and capitalizing on Greece’s unique strengths. Secondly, a lack of consensus regarding the role of green hydrogen in decarbonizing key industries (steel, fertilizers, refineries) presents a substantial hurdle. Greece should actively work to cultivate a shared understanding and consensus on the potential of hydrogen across various sectors by enhancing collaboration with industry leaders, policymakers, and stakeholders. Moreover, by leveraging its extensive maritime fleet and reinforcing pipeline connections, Greece is poised to emerge as a vital player in the future of hydrogen. Capitalizing on this advantage will secure Greece’s leading position in the rapidly expanding hydrogen industry. One project aligning with Europe’s objectives for decarbonization and energy independence is Advent’s EU-approved Green HiPo IPCEI project. Green HiPo involves the development, design, and manufacture of fuel cell systems and electrolyzer systems for the production of power and green hydrogen, respectively. A new state-of-the-art facility in Kozani will be home to the production of fuel cells and electrolyzers.
In the U.S., the Inflation Reduction Act catalyzes the rapid advancement of clean energy technologies, positioning the nation as a key player in the global hydrogen market. With substantial tax incentives for green hydrogen producers, the act is set to draw significant investments and make green hydrogen competitive nationwide by 2030. In October 2023, the Biden Administration announced the winners of the US Regional Clean Hydrogen Hubs, supported by a $7 billion grant from the U.S. Department of Energy (DOE). These H2Hubs are expected to produce 3 million metric tons of hydrogen annually, significantly contributing to the 2030 U.S. clean hydrogen production goal. The government’s $7 billion investment aims to trigger an additional $40 billion in private investment, generating numerous jobs and economic advantages, while also promoting the use of hydrogen.
The hydrogen revolution is reshaping Europe and the United States’ energy landscape. Yet, the enormity of the challenge requires collaboration beyond individual continents, countries, or companies. Successful transition hinges on global cooperation, innovation, and the timely implementation of H2 projects worldwide. In this collective pursuit of a sustainable future, we must work together to turn ambitious visions into tangible actions. The time to act is now.
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