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Same AM look as yesterday, can we keep it up?
Different look today, aggressive bidder. Guess we should at least get an update PR Monday.
Number of European hydrogen refuelling stations set to grow as new law is adopted
By Charlie Currie
on Jul 25, 2023
https://www.h2-view.com/story/number-of-european-hydrogen-refuelling-stations-set-to-grow-as-new-law-is-adopted/
The European Council has today (July 25) adopted legislation that will see hundreds of hydrogen refuelling stations deployed across the continent.
Adoption of the Alternative Fuel Infrastructure Regulation (AFIR) will see the rule published in the EU’s official journal after the summer and will enter force 20 days after publications with the rules due to apply from six months after the date of entry.
AFIR dictates that hydrogen refuelling stations serving both light- and heavy-duty vehicles must be deployed in all urban nodes and every 200km along the core TransEuropean Transport Network (TEN-T) by 2030.
Quote: "Today, in the US alone, the trucking industry uses 36.5 billion gallons of diesel a year" (by Jason Few, CEO of FuelCell Energy at min 6:45 into the video at the following link Our Hydrogen Future: Sustainable and Abundant (and Local?) | Jason Few | TEDxNewHaven).
Lignite with 30% in the energy mix in the middle of a heat wave
14:22 pm, Tuesday 25/07/2023 | Kozani
The contribution of lignite to the energy mix in the last ten days with the hot weather is 30%. RES while fluctuating at 42% from July 16 to 19 and then dropped to around 16.6% because the wind turbines were not working. Natural gas has the lion's share with a participation of 70%. At the same time we are the 4th most expensive country in Europe after Malta, Ireland and Poland with 127.28 euros/megawatt hour.
https://www-prlogos-gr.translate.goog/%ce%bf-%ce%bb%ce%b9%ce%b3%ce%bd%ce%af%cf%84%ce%b7%cf%82-%ce%bc%ce%b5-30-%cf%83%cf%84%ce%bf-%ce%b5%ce%bd%ce%b5%cf%81%ce%b3%ce%b5%ce%b9%ce%b1%ce%ba%cf%8c-%ce%bc%ce%b5%ce%af%ce%b3%ce%bc%ce%b1-%ce%b5/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Repost from Stocktwits board, courtesy of jjgrey05.
ADN = 48.8 million MC ($0.92) O/S = 53,097,236
HLGN = 57.9 million MC ($0.29) O/S = 196,847,953
HYZN = 396.26 million MC ($1.62) O/S = 244,599,212
FCEL = 919.28 million MC ($2.26) O/S = 406,760,629
NKLA = 1.74 billion MC ($2.50) O/S = 694,091,215
PLUG = 7.44 billion MC ($12.39) O/S = 600,536,746
Revenues based on SEC filings
ADN 2022 rev: $7,837,000
HGLN 2022 rev: $13,751,000 (7,232,000 was grant revenue)
HYZN 2022 rev: $3,726,000
FCEL 2022 rev: $130,484,000
NKLA 2022 rev: $50,825,000
PLUG 2022 rev: $701,440,000
ADN 2023 EST rev: $8,300,000 (w/o Green HiPo)
HGLN 2023 EST rev: $14,500,000
HYZN 2023 EST rev: $6,000,000
FCEL 2023 EST rev: $165,419,000
NKLA 2023 EST rev: $78,117,000
PLUG 2023 EST rev: $870,826,000
Based on Est 2023 rev:
ADN: trading 6x
HLGN: trading 4x
NKLA: trading 23x
HYZN: trading 65.5x
FCEL: trading 5.6x
PLUG: trading 8.5x
ADN with the 1st draw 35.8 mil and O/S at 55 mil: 6x = $4.81 share price for ADN
Advent Technologies: High-Temperature Membrane and MEA for PEM FCs and WEs
July 21, 2023
https://nickeffect.eu/2023/07/advent-technologies-high-temperature-membrane-and-mea-for-pem-fcs-and-wes/
BASF – Advent Technologies: Factory in Kozani for the production of HT-PEM fuel cell systems
JULY 19, 2023
https://infoservice.com.gr/player/basf-advent-technologies-ergostasio-stin-kozani-gia-tin-paragogi-systimaton-kypselon-kafsimou-ht-pem/
Eom7, I fixed the link in your previous post. Your link was taking me to a very old 2019 article. Great article. Thanks for posting it.
https://www.prlogos.gr/%ce%b5%cf%81%ce%b3%ce%bf%cf%83%cf%84%ce%ac%cf%83%ce%b9%ce%bf-%ce%b3%ce%b9%ce%b1-%cf%80%cf%81%ce%ac%cf%83%ce%b9%ce%bd%ce%bf-%cf%85%ce%b4%cf%81%ce%bf%ce%b3%cf%8c%ce%bd%ce%bf-%cf%83%cf%84%ce%b7%ce%bd/
Factory for green hydrogen in Kozani – Investment of 740 million euros and hundreds of jobs
https://www.prlogos.gr/e???st?s??-??a-p??s???-?d??????-st??/
Translate to English:
Konstantinos Filippou
17 07 2023 | 07:43
0 COMMENTS
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The Special Service for Just Development Transition (EYDAM) is proceeding with the preparation of 12 new actions that exceed 820 million euros for the period 2023-2024.
From October 2022 onwards, when the Monitoring Committee of the Just Development Transition Program in the amount of 1.6 billion met for the first time. euros, the overall progress of the implementation of the PDMA includes the following:
§ Specialization of 14 actions with a total budget of 567.1 million euros, i.e. approximately 35% of the total amount of the Program,
§ Issuance of 13 challenges with a total budget of 187.1 million euros, i.e. approximately 11.5% of the total amount of the Program,
§ Issuance of an integration decision for 23 operations with a total budget of approximately 149 million euros, i.e. 9.2% of the total amount of the Program.
The 2023 - 2024 planning
In addition to these, EYDAM is planning for the next year and a half the following actions to support businesses and other initiatives in the lignite regions of Western Macedonia and Arcadia:
1. Proclamation of the "Fair Development Transition" Aid Status of the Development Law 4887/2022 with a budget of 380 million euros .
It concerns the strengthening of investment projects that are implemented in the Territorial Plans of Just Transition (ESDIM) through the Status of Just Developmental Transition of the Development Law - Strong Greece (law 4887/2022, articles 51-57)
Beneficiaries are Micro, Small, Medium and Large Enterprises
2. Integrated workforce empowerment interventions for the just transition to the post-lignite period with a budget of 29.2 million euros.
This is a human resources development action that will be implemented by the local Labor Centers and Workers' Federations of the lignite areas, Employers' Professional Associations, Self-Governing Authorities (Regions and Municipalities), Professional Chambers and Tertiary Educational Institutions, for 4000 beneficiaries. ( 3000 unemployed and 1000 workers in precarious jobs. )
3. Personalized intervention program for unemployed young people, with implementation of needs diagnosis, professional counseling and social empowerment activities with a budget of 8.23 ??million euros
4. Action to Strengthen Existing Businesses operating in the areas of the approved Territorial Plans for Fair Development with a budget of 30 million euros
5. Action to Strengthen new Businesses that operate or will operate in the areas of the approved Territorial Plans for Fair Development with a budget of 20 million euros.
6. Support of energy communities for the development of self-production actions with a budget of 42 million euros
7. Installation of heat pumps for heating/cooling in the Region of Western Macedonia and Megalopolis with a budget of 30 million euros.
8. Creation and strengthening of innovative clusters for the transfer of technology and scientific knowledge to businesses and the utilization of the results of research and innovation with a budget of 9 million euros.
9. Funding of Important Projects of Common European Interest (SECI) with a budget of 165 million euros.
10. Reuse of lignite soils with a budget of 50 million euros.
It concerns the institutionalization of new land uses and their exploitation for the development of new economic activities such as the development of organized receptors for businesses.
11. West Innovation Zone of Macedonia with a budget of 41 million euros.
This is a special Development project with a program of infrastructure and pockets of entrepreneurship, knowledge, research and innovation as well as actions to develop innovative actions, with a focus on energy and ICT
12. Bio-Economy Hub for the wider area of ??Megalopolis with a budget of 22 million euros.
Special program aimed at the economic and productive transformation of business activity in the Bio-Economy value chain (Agri-Food, Circular and Digital Economy)
Wen PR? 9. Funding of Important Projects of Common European Interest (SECI) with a budget of 165 million euros.
https://energypress.gr/news/pdam-2021-2027-dodeka-nees-draseis-hrimatodotisis-ano-ton-820-ek-eyro-gia-tis-lignitikes
Looks like we might get the first two yrs. ($120MM) like I was hoping for :
https://stocktwits.com/Ijduwa/message/536462532
Break $1 today?
Post-lignite area support programs worth over €820m
July 17, 2023
https://energypress.eu/support-programs-worth-more-than-e820m-for-post-lignite-areas/
Greek post-lignite authority EYDAM, the Just Transition Special Authority, is preparing twelve new programs budgeted at a total of more than 820 million euros for 2023 and 2024 to support businesses and other initiatives in northern Greece’s west Macedonia region and Arkadia in the Peloponnese, both lignite-dependent local economies.
The plan includes a 380 million-euro budget as support for investment plans in just-transition areas; 29.2 million euros for workforce empowerment interventions; as well as an 8.23 million-euro budget support program for unemployed young adults, vocational counselling and social empowerment.
Other aspects of the overall plan include a 30 million-euro budget for support of existing enterprises active in just-transition areas, a 20 million-euro budget for new enterprises either already active or preparing for launch in just-transition areas, as well as a 50 million-euro budget for the transformation and reuse of former lignite areas.
In addition, a 22 million-euro sum has been marked out for a special program aimed at the economic and productive transformation of entrepreneurial activity in the wider Megalopoli area’s bioeconomy.
Natural gas era in Western Macedonia: In March the "journey" of the new pipeline begins (photo)
Which cities will it pass through - The landscape is changing in the region - The prospects and opportunities - "Greece is energy secure"
Stefanos Mahtsiras
A new chapter in the long energy history of the West. Macedonia, which is "hurt" by de-lignitization, even if the energy crisis temporarily postponed it, opens in March as the works begin for the implementation by DESFA of the Western Macedonia pipeline, which will also be able to transport hydrogen.
"The pipeline will bring investments to the region, while in the future it will help other forms of green energy such as biomethane and hydrogen to come to Western Macedonia. Western Macedonia will be the first Region in Greece to have access to hydrogen. The pipeline is one of the first in Europe that can transport up to 100% hydrogen. Local communities will enjoy a multitude of economic and social benefits, societies are fully ensured in the era of transition after lignite", pointed out Maria Rita Galli, CEO of DESFA, in the framework of the Administrator's event in Kozani.
Mrs. Galli assured that Greece is energy secure by reducing its dependence on Russian natural gas, while now with the infrastructures that are being implemented, it will be able to export energy to other countries as well. At the same time, she appeared modestly optimistic about the course of natural gas prices, expressing the belief that "the market will balance although there will be ups and downs".
"Historical day for Western Macedonia, an important project is on track for implementation. The region continues to hold the scepter in the energy field, pioneering. We aspire to attract investments", noted the regional governor of Western Macedonia, Giorgos Kasapidis.
"It's good, even if it's late," said the mayor of Kozani, Lazaros Maloutas, about the arrival of natural gas in the region, making special mention of the prospects that are opening up.
According to the DESFA Development Program 2022-2031 plan, the pipeline is expected to be completed at the end of 2024, while its cost will reach 147 million euros. Its financing is fully guaranteed, from the Manager's own funds and the Cooperative Bond Loan, in the amount of 505 million euros, which has been concluded with the four systemic banks, for the financing of the ten-year Development Program of the ESFA 2021-2030.
It is recalled that the pipeline will have a total length of 147 kilometers, with its main section starting from Trikala, Imathia, and the national system's hermitage at the point, and ending at Ptolemaida, near the settlement of Komnenos in the Regional Unit of Kozani. At the same time, it will have four branches, so that the gas reaches all the urban centers of the Region.
The design of its layout was made with the aim of covering all the urban centers of the region. Thus, thanks to the main section and the four sub-branches, the pipeline gas will "reach" as far as Edessa, Skydra, Naoussa, Veria, Florina, Amyntaio, Ptolemaida and Kozani. At the same time, there will be provision (expectations) for future expansion, with the aim of supplying pipeline gas to the area of Kastoria.
The project also envisages the construction of a Heart Measurement Station to provide the district heating facilities for Kozani, Ptolemaida and Amyntaio, a particularly critical issue for the residents.
In the future, the arrival of gas in the area will also enable (after 2028) the new lignite unit "Ptolemaida 5" to operate with natural gas.
With an eye on the future
It is worth noting that the pipeline will be 100% compatible with the transport of hydrogen – in fact, it is the first similar infrastructure, and one of the few in Europe, that fully supports the movement of renewable gases.
In this context, it will constitute an important infrastructure that will frame the investment projects that are in the works, so that Western Macedonia remains one of the most important energy centers of the country, now with the production of "green" hydrogen.
Also, the project will be included in the "map" of the European Hydrogen Backbone (EHB), i.e. the plan of European Operators and companies to develop a pan-European network of pipelines for the transport of "green" hydrogen.
https://www-makthes-gr.translate.goog/epochi-fysikoy-aerioy-sti-dytiki-makedonia-ton-martio-xekina-to-taxidi-toy-neoy-agogoy-fot-631115?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_hist=true
News from Advent potential partner Toyota.
July 11, 2023.
https://jalopnik.com/toyotas-going-all-in-on-hydrogen-fuel-cell-trucks-in-ke-1850626040
Bosch got their IPCEI grant. This is great a good confirmation that ADN didn’t get screwed time wise. It’s a process.
fuelcellsworks.com/news/bos...
Bosch was on the list along with ADN. Hoping to get ADN news this week!
https://stocktwits.com/Ijduwa/message/535571738
NYSERDA update:
Regional Clean Hydrogen Hubs Demand-side Support Notice of Intent. Responses are due by July 24, 2023, 5:00 p.m.
The Regional Clean Hydrogen Hubs program–or H2Hubs–includes up to $7 billion to establish six to 10 regional clean hydrogen hubs across America. As part of a larger $8 billion hydrogen hub program funded through the Bipartisan Infrastructure Law, the H2Hubs will be a central driver in helping communities across the country benefit from clean energy investments, good-paying jobs and improved energy security.
Clean hydrogen hubs will create networks of hydrogen producers, consumers, and local connective infrastructure to accelerate the use of hydrogen as a clean energy carrier that can deliver or store tremendous amounts of energy.
The production, processing, delivery, storage, and end-use of clean hydrogen, including innovative uses in the industrial sector, are crucial to DOE’s strategy for achieving President Biden’s goal of a 100 percent clean electrical grid by 2035 and net-zero carbon emissions by 2050.
Hydrogen energy has the power to slash emissions from multiple carbon-intensive sectors and open a world of economic opportunity to clean energy businesses and workers across the country. Getting hydrogen right would mean unlocking a new source of clean, dispatchable power, and a new method of energy storage. It would mean another pathway for decarbonizing heavy industry and transportation.
The Bipartisan Infrastructure Law included several requirements for H2Hubs, including feedstock diversity and end use diversity.
This program will develop H2Hubs that demonstrate the production, processing, delivery, storage and end-use of clean hydrogen, in support of the Biden Administration’s climate goals.
The H2Hubs will form the foundation of a national clean hydrogen network that will contribute substantially to decarbonizing multiple sectors of the economy and creating good paying jobs.
https://www.energy.gov/oced/regional-clean-hydrogen-hubs
G. Hatzimarkakis: Hydrogen will play a fundamental role in the energy future of Greece
July 10, 2023
"Hydrogen will play a fundamental role in the energy future of Greece". George Hatzimarkakis , Managing Director of the European Hydrogen Association "Hydrogen Europe" and former German MEP, emphasizes the above in a letter to the Greek Prime Minister, Kyriakos Mitsotakis , stressing at the same time that "Greece is on a growth trajectory".
After congratulating the Greek Prime Minister for this remarkable election result, Mr. Hatzimarkakis wishes him good success and the necessary luck for the next four years.
This overwhelming result points out that it keeps the country on the path of stability and decent development, a development that is so important for all Greek women and men inside and outside Greece after the turbulent years that hit the country very hard. Greece is back on the growth track but the ongoing challenges and multiple crises in Europe and worldwide will require bold and targeted actions.
The stable political majority emphasizes that the New Democracy won will create the necessary ground for the continuation and development of an efficient and structured energy policy, as energy is the main factor for stability in the daily life of citizens, industry and especially prices.
Regarding the energy future of the country, Mr. Hatzimarkakis points out that hydrogen will play a fundamental role. It will allow compensating for the intermittent period of a rapidly growing renewable energy sector in Greece. It will contribute to the replacement of fossil energy sources especially for energy production which is still based on lignite.
Then refer to phasing out lignite units much earlier than other European economies. The hydrogen sector is ready to support this process under the leadership of Mr. Mitsotakis.
Mr. Hatzimarkakis points out that Western Macedonia will be one of the hotspots of the transition to renewable energy sources, clean technologies and hydrogen. Under the Mitsotakis government, the largest IPCEI in European history was presented with the "Green Hippo" which simultaneously highlights the strong role of Greece in the hydrogen economy. It should make all Greek women and men proud as this forward-looking sector needs pioneers which the Greek industry certainly has to offer.
Finally, the former MEP emphasized that he is deeply convinced that, alongside tourism, the hydrogen sector will contribute massively to sustainable and lasting economic development. They are the two driving forces of the Greek economy as ecological tourism will be one of the strategic goals of the hydrogen sector in Greece.
In closing, he emphasized that the European Hydrogen Union will support the effort of Greece and the Greek Government for energy independence.
https://finupnews-gr.translate.goog/%CE%B3-%CF%87%CE%B1%CF%84%CE%B6%CE%B7%CE%BC%CE%B1%CF%81%CE%BA%CE%AC%CE%BA%CE%B7%CF%82-%CF%84%CE%BF-%CF%85%CE%B4%CF%81%CE%BF%CE%B3%CF%8C%CE%BD%CE%BF-%CE%B8%CE%B1-%CE%B4%CE%B9%CE%B1%CE%B4%CF%81%CE%B1/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Advent Institutional ownership. https://fintel.io/so/us/adn
Advent Technologies Participates in the 2nd European Electrolyser Summit
June 27 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/91439594/advent-technologies-participates-in-the-2nd-europe
MINISTRY: Subsidies, RepowerEU and storage in the first places in the block of Th. Skylakakis
From George Alexakis
It was published
27/06/23 7:25
With the energy crisis seeming to be "fading" but continuing as an uncertainty to remain on the agenda of threats, as well as bets of the green transition being a "horizontal" challenge to the economy, the new leadership of the Ministry of Environment and Energy in the next period is called upon to act directly on three fronts.
Against this background, the new minister, Theodoros Skylakakis, immediately, following the announcements of the providers for the July retail price lists, will have to decide on the continuation or not next month of the electricity subsidies, having the said pending, ex of necessity, first on the "block".
It should be noted that the new tariffs will take effect from July 1, being at roughly the same levels as the current ones, which however had, even if marginal, some subsidies. It is noted that for monthly consumptions of up to 500 kWh, the electricity subsidy for May and June amounted to 15 euros/MWh, according to the announcement of the Ministry of Energy and Environment.
The value of the electricity subsidy for households and farmers in May and June amounts to 47 million euros.
In addition, Mr. Skylakakis with the "seasoned" and extensive experience due to his 4-year term at the Ministry of Internal Affairs Alexandra Sdoukou , now in the position of deputy minister, will have to run the large storage projects, the new ESEK and the electrification process, where central the big plan of expanding electric mobility throughout the country and the integration of batteries into the electrical system also has a place.
The big "players" of the field have already taken a position in this design, which will be a basic balancing exercise for the new leadership.
Gas units
The "exercise" is also complemented by the selection process for which of the candidate power plants to be built, using natural gas, will be implemented.
The plans concern a unit that will be installed in the Industrial Area of ??Komotini and is being promoted by Thermoelectric Komotini, a company jointly established by GEK TERNA and Motor Oil.
Another power plant project is close to starting work. The project is jointly promoted by PPC, DEPA Emporias and Damco Energy through "Alexandropolis Power Generation Monoprosopi S.A."
Also another project is promoted by "Larissa Thermoelectric MAE" and it is planned to be installed within the Industrial Area (BI.PE.) of Larisa, which is located within the boundaries of the Municipality of Tempo.
Finally, Elpedison is promoting a natural gas thermal unit in Thessaloniki. The plant will have a capacity of 826MW and is jointly promoted by Helleniq Energy and Edison.
Save
Already, the tender for the operational and investment support of autonomous storage units with batteries with a total capacity of 400 MW, with the publication of the relevant announcement by the Waste, Energy and Water Regulatory Authority (RAAEF). As provided in the text of the announcement, investors will submit their offers until July 10 and the project evaluation process will follow by the Authority, so that the final list of projects that will qualify will be made public at the beginning of August. At the same time, the process with the chargers is also "running",
Electrification
Already, the electrification plan is underway in every phase of the economy, from transport and housing with the various programs. Already, a “Charging Everywhere” program has been launched, which was originally supposed to start in the first quarter of 2023 and will subsidize the installation of 8,000 electric vehicle charging points by up to 70%. It has a total budget of 80 million euros, the relevant resources of which have already been committed by the Recovery Fund.
Within the framework, the investments and reforms for the green transition include, among other things, the interconnection of the Greek islands promoted by ADMIE and which will allow the better utilization of RES, the undergrounding of the electricity network in urban and forest areas by the DEDDIE, the energy upgrade of homes, business building infrastructures and public buildings and infrastructures through a series of programs, tackling energy poverty and promoting electrification in Mass Transportation.
RepowerEU
In addition, the drafting of the proposal for claiming funds for RepowerEU and the implementation of the energy projects that have been included in the Recovery and Resilience Fund in the "green transition" axis are expected to be among the central priorities of the new leadership. Of course, in everything that has to do with the Fund and RepowerEU, Mr. Skylakakis has a complete picture as he ran the whole project from his previous position of Deputy Minister of Finance.
It should be noted that the utilization of the great opportunity offered by the Recovery Fund and of course the "redirection" of the unused loans to the REPowerEU program is urgently requested by the Commission in the text of the fiscal guidelines, which accompanied the evaluation of each Stability Program of the member states.
"Keep the momentum in the steady implementation of the recovery and resilience plan and quickly complete the REPowerEU chapter, with the aim of quickly starting its implementation" the Commission asks the member states and of course Greece and reiterates the need to ensure continuous adequate administrative capacity in view of the size of the plan, but also to continue the rapid implementation of cohesion policy programmes, in close complementarity and synergy with the Recovery Fund plan.
It is recalled that, based on what has been reported in a recent press meeting by executives of the previous economic staff, the country has already made a relevant process for the complete submission during the summer (the end of July or at the latest until the end of August) of an official request to the Commission for the additional loans amounting to 5 billion EUR and subsidies of EUR 760 million under REPowerEU.
Essentially, these funds will go to "green" actions but at the same time, as mentioned, they will "free up" space for other actions, with a strong production orientation, which can strengthen the extroversion and productive reconstruction of the Greek economy.
It is recalled that with these data, with the claim of additional resources from the Recovery Fund, the amount that Greece will receive rises to 36 billion. €14.7 billion in grants from the Recovery Fund and €760 million from REPowerEU plus €12.7 billion in loans from the Recovery Fund and another €5 billion from REPowerEU.
Even before the Commission expressed its recommendations, it had notified the member countries of the requests it had received for loans through REPowerEU, and in particular it had announced Athens' intention to receive an additional "package" of loans amounting to 5 billion euros which will be allocated for the financing of additional energy transition projects. More specifically, the 5 billion euros from the loans will be used mainly to finance energy, private investments – through borrowing and equity – in areas such as:
Renewable Energy Projects (RES), e.g. solar and wind energy, biomethane, green hydrogen, etc.
Energy efficiency projects, e.g. interventions in existing business buildings, upgrading infrastructure and increasing the efficiency of production processes
Initiatives to promote "clean" transport
Clean energy access projects such as off-grid solutions and distributed electricity networks
Battery Energy Storage Systems (BESS) etc.
It is recalled that the Recovery Fund, with the data so far, expires in 2026. The member states have the right for a single interim review until the end of this year. In this context, the revised Recovery Plans, in addition to the changes caused by the energy crisis, should also incorporate all the other parameters, such as the acceptance that some projects will be delayed and thus have to be integrated, budgets to be revised or reforms to be adapt. In fact, member states can also modify their plan if they prove that objective conditions make it impossible to implement certain milestones and goals. These objective conditions could be linked to inflation,
It is noted that the main motivation for companies to resort to Recovery Fund loans is the low cost: a fixed interest rate of 0.35% for very small and small companies and 1% for medium and large ones, in a period when the upward trend of interest rates, at the European level, is estimated to continue its upward trend.
The additional 5 billion give, as mentioned, room for the redirection of resources to other "axes" of the Fund. In fact, given that the resources from these community funds have a double multiplier in the economy than the PDE resources, then it is estimated that the impetus to development and also to other actions, which strengthen the energy transition.
At the same time, in its recommendations, the Commission reiterates the goal of:
Reducing dependence on fossil fuels and further accelerating the diversification of energy supply routes.
Further expansion of renewable energy development with the completion and enforcement of the new legal frameworks for the licensing process and for offshore wind farms.
Increasing the electricity grid and storage capacity.
The promotion of decentralized production of renewable energy sources and the establishment of legislative frameworks for the production of renewable hydrogen and biomethane.
Stepping up the provision of measures that improve energy efficiency, including targeted measures for energy-poor households and the installation of smart meters, as well as policy efforts aimed at providing and acquiring the skills needed for the green transition.
Support the decarbonisation of the transport sector, in particular by promoting electric vehicles.
https://energymag-gr.translate.goog/news/energeia/ypen-epidotiseis-repowereu-kai-apothikefsi-stis-protes-theseis-sto-blokaki-tou-th-skylakaki/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Next-generation MEA for aviation
The NIMPHEA project will develop a new-generation Membrane Electrode Assembly (MEA) – the central component of Proton Exchange Membrane Fuel Cells – compatible with aviation applications. This is a key enabling technology for the deployment of fuel cells in aviation.
The project has been funded by the Clean Hydrogen Partnership. The research will be carried out over a 4-year period starting in January 2023.
19 Jun
https://www.nimphea.eu/
Consortium
The NIMPHEA consortium brings together leading fuel cell system developers (Safran Power Units and Safran Tech) and an experienced MEA industrial actor (Advent) to lead the architecture definition, requirements and design activities. Recognised academic and research institutions (Université de Strasbourg, Fraunhofer ICT, Commissariat à l’énergie atomique et aux énergies alternatives – CEA , Centre national de la recherche scientifique – CNRS) will support the above-mentioned industrial partners with the characterisation, development, manufacturing, modelling and testing of the individual components of the MEA and of the upscaled MEAs. Finally, the life-cycle costing, environmental life-cycle assessment and the eco-efficiency benchmarking will be conducted by IMDEA Energy, a Spanish research institute expert in the energy field.
Battle of investors for European funds and state support
Marina Protonotariou
June 26, 2023
https://www.mononews.gr/business/machi-ependiton-gia-ta-evropaika-kefalea-ke-tin-kratiki-stirixi
Google translation of relevant excerpt:
Advent: Awaiting the assessment by the Ministry of Development and Investments
Advent 's Green HiPo project for production of electrolytes and fuel cells has been selected in the Important Projects of Common European Interest (“IPCEI”) Hydrogen – Technology, Green HiPo since last year. Following EU ratification, the total funding of €782.1 million for the project will be made available over a period of six years. However, the project is being re-evaluated by the Ministry of Development and the final decision is awaited on whether it will be supported by the Greek side in order to get the funding.
As reported in May, the company has successfully acquired the property rights to a property located in Kozani, Greece, which will house its future state-of-the-art facilities for the IPCEI Green HiPo project. Advent expects to receive the final title transfer certificate from the local land office in the coming days. This land acquisition underscores Advent's unwavering commitment to building a robust infrastructure that will effectively and strategically support the goals of the IPCEI Green HiPo project. Advent has also established a coordination and planning office in the center of Kozani, which will serve as the operational hub for the IPCEI Green HiPo project.
As a condition for the release of State Aid funding for Green HiPo, the Hellenic Ministry of Development requested a review of the Green HiPo IPCEI project and in particular to evaluate the systems and procedures in order to ensure full transparency and accountability for the effective implementation of the Green HiPo project IPCEI.
Once the evaluation is complete, the Hellenic Ministry of Development and Investment will invite Advent, as one of the two eligible companies under IPCEI Hy2Tech in Greece, to confirm its final funding documents. Following the submission, Advent expects to receive up to €782.1 million in funding from the Greek State over a six-year period for the Green HiPo IPCEI project.
This funding is part of the total aid of €5.4 billion approved by the European Commission in July 2022 for various projects, including the Green HiPo, which is one of 41 projects jointly prepared and communicated by fifteen states members under the IPCEI Hy2Tech umbrella.
Any follow up post from sudhK on the election?
Toyota Says Next-Gen Fuel Cell will Be 50 Percent Cheaper by 2026 – CarBuzz
June 20, 2023
https://hydrogen-central.com/toyota-says-next-gen-fuel-cell-50-percent-cheaper-2026-carbuzz/
Interview with Dr. Vasilis Gregoriou, Chairman & CEO, Advent Technologies.
15 June 2023
https://www.investmentreports.co/article/vasilis-gregoriou-chairman-and-ceo-advent-technologies-696/
Along the same lines as my thinking... thanks for posting.
Repost from Stocktwits, courtesy of sudhK.
Quote:
"From what ADN said about Green Hipo review process by Greek state, my speculative position is that, once ADN receives the funding documents from Greek state (document with details on funding schedule for green hipo over next 4 years and funding amount each year), ADN might use this state approved doc as collateral to access the long term low cost loan from hydrogen funds either from EU or US. By doing so, ADN will try to get the confidence of the investors and try to unlock the value of the company (market cap) inline with green Hipo assured funding arrangement of close to 800 USD.
With Green Hipo finding + additional couple of long back signed MoU turning into sales order, company would try to get its market cap around 1Bn $ before it thinks of diluting stakes, at that valuation to raise 50 mn USD, it just need to dilute 2.5% stake oppose to now well over 100% dilution to raise 50Mn USD & even with reverse split strategy company would face mounting challenge to meet min bid requirement of 1$ if they dilute now, so it would be stupid for company to throw away stocks at such a low valuation currently.
They have done long list of govt projects in EU and US, with that reputation and with Green Hipo funding assurance document from Greek state, they can easy rise long term low cost fund, which they can close it with 2.5 to 5 % dilution when the company get to Bn $ club. With almost 800 Mn USD funding over 4 to 5 years, its not really hard for company to get into Bn $ club as HT-PEM is very relevant product for decarbonizing strategy for EU and USA and Hydrogen space is already heating up. I believe company went ahead with expanding Authorized shares & couple of ATM deals , all seems to be aimed at future long term needs, Its really stupid for company to dilute the ownership with such a low valuation while they have other viable option to raise fund if they need on top of Green Hipo funding to help.
With regards to Green Hipo, that is done deal, once election gets over on 25th Jun, narrative will change, no going back on green hipo, all countries sort of fighting for developing hydrogen, if Green State go back undoing all progress they made with EU over coupe of years on this project, it would be suicidal for greek state to loose this funding to other EU state, I expect things will look good once election get over next weekend in Greece. Again I believe Green Hipo is done deal (no more if and buts)."
Big deal for Greece – Where will the new fuel cell production plant be built?
Advent Technologies and German giant BASF Environmental Catalyst have signed an agreement to create a complete supply chain for fuel cell components (with hydrogen) in Europe, which will be produced in Kozani.
The bilateral agreement stipulates that the new type HT-PEM fuel cells will be manufactured at factory which is designed by Advent in Kozani.
THE president and CEO her Advent Technologies Dr. Vassilis Grigoriou emphasized that: “This collaboration will allow its combination know-how her Advent in systems fuel cells with her expertise BASF in development catalysts and membranes, creating a strong synergy which will lead to new innovative solutions in fuel cell industry».
2 weeks down 4-6 to go. ADN could be 30 days from a company making catalyst!
Current Report Filing (8-k).
June 2, 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/91236473/current-report-filing-8-k
Item 1.01 Entry into a Material Definitive Agreement.
On June 2, 2023, Advent Technologies Holdings, Inc., a Delaware corporation (the “Company”), entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC, as sales agent (the “Agent”), for an at-the-market equity program under which it may sell up to $50 million of shares (the “Shares”) of the Company’s common stock (the “Common Stock”) from time to time through the Agent (the “ATM Offering”).
Pursuant to the ATM Agreement, the Agent may sell the Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 under the Securities Act of 1933, as amended, including sales made by means of ordinary brokers’ transactions, including on the Nasdaq Capital Market, at prevailing market prices at the time of sale or as otherwise agreed with the Agent. The Agent will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the Shares from time to time, based upon instructions from the Company, including any price or size limits or other customary parameters or conditions the Company may impose.
The Company has no obligation to sell, and the Agent is not obligated to buy or sell, any of the Shares under the ATM Agreement and may at any time suspend offers under the ATM Agreement or terminate the ATM Agreement. The ATM Offering will terminate upon the earlier of (i) the issuance and sale of all shares of our Common Stock subject to the ATM Agreement, or (ii) the termination of the ATM Agreement as permitted therein.
The Company will pay the Agent a commission rate equal to 3.0% of the aggregate gross proceeds from each sale of Shares and has agreed to provide the Agent with customary indemnification and contribution rights. The Company will also reimburse the Agent for certain specified expenses in connection with entering into the ATM Agreement and certain ongoing diligence expenses. The ATM Agreement contains customary representations and warranties and conditions to the sale of the Shares pursuant thereto.
Under the terms of the ATM Agreement, in no event will the Company issue or sell through the Agent such number or dollar amount of shares of Common Stock that would (i) exceed the number or dollar amount of shares of Common Stock registered and available on the Registration Statement, (ii) exceed the number of authorized but unissued shares of Common Stock, or (iii) exceed the number or dollar amount of Common Stock for which the Company has filed a prospectus supplement to the Registration Statement.
The offer and sale of the Shares will be made pursuant to the Company’s previously filed Registration Statement on Form S-3 (File No. 333-271389) that was declared effective on May 2, 2023 (the “Registration Statement”) and a prospectus supplement and accompanying prospectus relating to the ATM Offering filed with the Securities and Exchange Commission on June 2, 2023.
The foregoing description of the ATM Agreement does not purport to be complete and is qualified in its entirety by reference to the ATM Agreement, a copy of which is filed as Exhibit 1.1 to this Current Report on 8-K (this “Report”).
This Report shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Advent Technologies and Safran Power Units Sign MoU to Advance HT-PEM Fuel Cell Technology for the Aerospace Sector
May 31 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/91204992/advent-technologies-and-safran-power-units-sign-mo
Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today signed a Memorandum of Understanding ("MoU") with Safran Power Units, a leader in auxiliary power systems and turbojet engines. Leveraging Advent's proprietary Ion Pair™ Membrane Electrode Assembly (“MEA”) technology, and Safran Aerospace knowledge and capabilities, this new collaboration will seek to advance the development of next-generation high-temperature proton exchange membrane (“HT-PEM”) fuel cell technology, specifically for the aerospace sector.
HT-PEM enables more efficient heat management versus low temperature-PEM (“LT-PEM”). It is more adapted for applications requiring high amounts of power combined with strong integration constraints such as aviation. HT PEM is more robust and can withstand toughest conditions, such as extreme temperatures and pollution, versus LT-PEM.
The collaboration is further supported by a strong research consortium including Safran Tech (the Research & Technology Center of Safran Group), the French Alternative Energies and Atomic Energy Commission, Fraunhofer Institute, the French National Centre for Scientific Research, the University of Strasbourg, and the IMDEA Energy Institute. Led by Safran Power Units and with the support of Advent, the consortium has secured a grant for the Clean Hydrogen Partnership TC3-08 NIMPHEA Project. Running from 2023 to 2026, the project is funded by Horizon Europe. NIMPHEA Project's main objective is to develop an aircraft-compatible, next-generation HT-PEM MEA. This involves optimizing and enhancing various components such as the catalyst layer, membrane, and gas diffusion layer. Advent’s Ion Pair™ MEA technology serves as the foundation for these advancements.
As part of the newly signed MoU, Advent and Safran Power Units are exploring a Joint Development Agreement for the advancement of HT-PEM fuel cells in aviation and for enhancing Advent’s supply capability.
"We are excited about the collaboration with Safran Power Units, as it signifies a major leap forward in advancing our HT-PEM fuel cell technology for the aerospace sector," commented Dr. Vasilis Gregoriou, Advent’s Chairman and CEO. "With our collective expertise, we are ideally poised to accelerate the development of next-generation fuel cell solutions, making aviation cleaner, more efficient, and more sustainable. This collaboration represents a remarkable opportunity to demonstrate the applicability and potential of Advent’s fuel cell technology in decarbonizing the aviation industry."
Vasilis Kopelas, Advent’s Vice President of Corporate Strategy & Business Development (Green Mobility), added, "We are proud to collaborate with Safran Power Units, a major aviation partner focused on innovation, to advance the decarbonization of the aerospace sector through the development of HT-PEM fuel cell technology. We look forward to a long and highly successful collaboration, leveraging our Ion Pair™ MEA technology and Safran Power Units expertise, to drive the adoption of Advent’s next-generation fuel cell solutions and contribute to a greener future for aviation."
Ghislaine Doukhan, Safran Power Units CEO, commented: “We are delighted to start this exciting collaboration with Advent. By combining our strengths, we are confident in our ability to spearhead the advancement of HT-PEM fuel cell technology in the aerospace sector. This partnership perfectly aligns with our unwavering dedication to innovation and sustainable aviation."
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
Date of Report (Date of earliest event reported): May 24, 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/91177982/current-report-filing-8-k
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 24, 2023, Advent Technologies Holdings, Inc. (the “Company”) received a letter from the Listing Qualifications Staff (the “Staff”) of the Nasdaq Stock Market LLC (“Nasdaq”) indicating that the bid price of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), had closed below $1.00 per share for 30 consecutive business days and, as a result, the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2), which sets forth the minimum bid price requirement for continued listing on the Nasdaq Capital Market (the “Minimum Bid Requirement”). Nasdaq’s notice has no immediate effect on the listing of the Company’s Common Stock on Nasdaq.
Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, until November 20, 2023, to regain compliance with the Minimum Bid Requirement. To regain compliance, the closing bid price of the Company’s Common Stock must be at least $1.00 per share for a minimum of 10 consecutive business days during this 180-day period, at which time the Staff will provide written notification to the Company that it complies with the Minimum Bid Requirement, unless the Staff exercises its discretion to extend this ten-day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).
If the Company does not regain compliance with the bid price requirement by November 20, 2023, the Company may be eligible for an additional 180-calendar day compliance period so long as it satisfies the criteria for initial listing on the Nasdaq Capital Market, except the Minimum Bid Requirement, and the continued listing requirement for market value of publicly held shares and the Company provides written notice to Nasdaq of its intention to cure the deficiency during the second compliance period by effecting a reverse stock split, if necessary. In the event it appears to Staff that the Company will not be able to cure the deficiency, or if the Company is not otherwise eligible for the second grace period, the Staff will provide written notice that the Common Stock is subject to delisting; however, the Company may request a hearing before the Nasdaq Hearings Panel (the “Panel”), which request, if timely made, would stay any further suspension or delisting action by the Staff pending the conclusion of the hearing process and expiration of any extension that may be granted by the Panel. There can be no assurance that the Company will be eligible for the additional 180 calendar day compliance period, if applicable, that the Staff would grant the Company’s request for continued listing subsequent to any delisting notification, or, if the Company does appeal the delisting determination by the Staff to the Panel, that such appeal would be successful, or that the Company will be able to regain compliance with the Minimum Bid Requirement or maintain compliance with the other Nasdaq listing requirements.
The Company intends to closely monitor the closing bid price of the Common Stock and consider all available options to remedy the bid price deficiency to regain compliance with the Minimum Bid Requirement.
Massive shorting on 3/23 has been pretty much covered..
(see replied to post and chart below)
Spike on news shorted..
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171515298
Time to go up?
Historic short interest:
You can go to this link to check short interest in a stock:
http://nasdaqtrader.com/Trader.aspx?id=ShortInterest
Publication schedule is here:
http://nasdaqtrader.com/Trader.aspx?id=ShortIntPubSch
Settlement Date/Short Interest/Percent Change/
Average Daily Share Volume/Days to Cover
05/15/2023 1,913,363 41.71 394,966 4.84
04/28/2023 1,350,183 (33.84) 310,875 4.34
04/14/2023 2,040,792 (21.02) 657,158 3.11
03/31/2023 2,583,859 20.33 4,353,911 1.00
03/15/2023 2,147,222 (2.38) 305,496 7.03
02/28/2023 2,199,679 3.25 260,353 8.45
02/15/2023 2,130,426 10.81 365,729 5.83
01/31/2023 1,922,592 4.06 281,698 6.83
01/13/2023 1,847,653 (4.88) 240,143 7.69
12/30/2022 1,942,447 12.42 404,999 4.80
12/15/2022 1,727,866 7.30 264,335 6.54
11/30/2022 1,610,363 (13.84) 389,634 4.13
11/15/2022 1,869,005 10.16 641,118 2.92
10/31/2022 1,696,681 (0.33) 673,710 2.52
10/14/2022 1,702,277 0.71 1,019,136 1.67
09/30/2022 1,690,214 34.39 1,466,521 1.15
09/15/2022 1,257,705 1.43 742,675 1.69
08/31/2022 1,239,918 (9.04) 541,456 2.29
08/15/2022 1,363,175 (21.96) 1,073,402 1.27
07/29/2022 1,746,873 (19.85) 6,303,479 1.00
07/15/2022 2,179,422 (39.79) 1,327,200 1.64
06/30/2022 3,619,764 (7.31) 33,483,408 1.00
06/15/2022 3,905,326 (9.94) 660,717 5.91
05/31/2022 4,336,346 (7.10) 1,027,956 4.22
05/13/2022 4,667,710 1.46 907,404 5.14
04/29/2022 4,600,366 (4.07) 1,022,544 4.50
04/14/2022 4,795,331 2.48 20,269,266 1.00
03/31/2022 4,679,444 17.24 1,574,888 2.97
03/15/2022 3,991,412 (5.83) 664,298 6.01
02/28/2022 4,238,562 (13.57) 998,748 4.24
02/15/2022 4,903,847 4.63 335,895 14.60
01/31/2022 4,686,922 (2.10) 531,080 8.83
01/14/2022 4,787,227 (3.46) 267,349 17.91
12/31/2021 4,958,767 (2.68) 403,991 12.27
12/15/2021 5,095,296 18.63 336,459 15.14
11/30/2021 4,295,074 (7.76) 313,238 13.71
11/15/2021 4,656,557 6.87 268,131 17.37
10/29/2021 4,357,085 3.37 248,609 17.53
10/15/2021 4,214,962 (3.85) 189,943 22.19
09/30/2021 4,383,938 12.14 406,772 10.78
09/15/2021 3,909,300 1.37 295,906 13.21
08/31/2021 3,856,616 15.61 268,864 14.34
08/13/2021 3,335,970 3.98 171,925 19.40
07/30/2021 3,208,401 (9.88) 199,199 16.11
07/15/2021 3,560,301 (1.14) 350,236 10.17
06/30/2021 3,601,467 14.39 710,616 5.07
06/15/2021 3,148,311 (7.52) 264,331 11.91
05/28/2021 3,404,331 10.65 371,002 9.18
05/14/2021 3,076,658 (1.88) 320,563 9.60
04/30/2021 3,135,448 (22.22) 393,433 7.97
04/15/2021 4,031,176 1.19 308,706 13.06
03/31/2021 3,983,604 147.67 1,119,279 3.56
03/15/2021 1,608,410 37.20 436,676 3.68
02/26/2021 1,172,333 10.38 714,083 1.64
02/12/2021 1,062,081 75.87 983,824 1.08
01/29/2021 603,918 19.53 901,187 1.00
01/15/2021 505,253 60.15 1,265,763 1.00
12/31/2020 315,486 14.25 1,291,599 1.00
12/15/2020 276,132 696.89 2,329,085 1.00
11/30/2020 34,651 64.44 385,117 1.00
11/13/2020 21,072 (8.30) 51,859 1.00
10/30/2020 22,979 14.30 109,668 1.00
10/15/2020 20,104 332.72 369,485 1.00
09/30/2020 4,646 114.10 211,307 1.00
09/15/2020 2,170 136.13 67,112 1.00
Advent Technologies Provides Update on Green HiPo IPCEI Project
05/26/2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Provides-Update-on-Green-HiPo-IPCEI-Project/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 provide an update on the implementation of the Green HiPo project under the framework of the Important Projects of Common European Interest (“IPCEI”) Hy2Tech. This update highlights recent milestones achieved in the project, emphasizing the collective dedication of the entire Advent team towards decarbonization, and the transformation of the clean energy landscape in Greece and Europe.
- 1. Acquisition of Land: Advent has successfully acquired the ownership rights to a prime parcel of real estate located in Kozani, Greece, laying the foundation for its future state-of-the-art facility for its Green HiPo IPCEI project. Advent expects to receive the final property transfer certificate from the local registry land office in the coming days. This land acquisition underscores Advent's unwavering dedication to establishing a robust infrastructure that will effectively and strategically support the objectives of the Green HiPo IPCEI project. Advent has also set-up a coordination and planning office in the center of Kozani which will serve as the operational hub for the Green HiPo IPCEI project.
- 2. Evaluation Underway: As a prerequisite for unlocking the State Aid funding for Green HiPo, the Hellenic Ministry of Development and Investment has commissioned a high-level review of the Green HiPo IPCEI project as previously ratified by the European Union. It is expected that this review will take approximately 6-8 weeks, during which time systems and processes will be assessed in order to ensure full transparency and accountability for the effective implementation of the Green HiPo IPCEI project.
- 3. Recruitment Process and Hiring of Key Professionals: Advent has begun the process of identifying and hiring key professionals - scientists, engineers, and managers who will play integral roles at the new state-of-the-art facility in Kozani. These talented individuals will drive critical functions such as research and development, first industrial deployment, and supply chain management. Their expertise will be instrumental in the development, design, and manufacture of innovative high-temperature proton exchange membrane fuel cell systems and electrolyser systems. Advent's careful selection process ensures that top-tier talent is recruited to support the successful execution of the Green HiPo IPCEI project, thereby ensuring the project's success and innovation.
Once the evaluation has been completed, the Hellenic Ministry of Development and Investment will invite Advent, as one of the two eligible companies under the IPCEI Hy2Tech framework in Greece, to confirm its final funding documents. Upon submission, Advent anticipates receiving up to 782.1 million euros in funding from the Greek State over a six-year period for its Green HiPo IPCEI project. This funding is part of the total 5.4 billion euros in aid authorized by the European Commission in July 2022 for various projects, including Green HiPo, which is one of 41 projects jointly prepared and notified by fifteen Member States under the IPCEI Hy2Tech umbrella. The project will involve close cooperation with over 300 external partners, including universities, research organizations, and SMEs across Europe, enabling extensive collaboration and knowledge sharing.
Dr. Vasilis Gregoriou, Advent's Chairman and CEO, commented, "We are actively engaged in continuous and positive communication with the Greek State, eagerly anticipating the imminent finalization of all necessary procedures to expedite the implementation of the Green HiPo project. Our team is filled with enthusiasm as we collaborate with the Greek State and express heartfelt gratitude for the invaluable opportunity to work alongside our esteemed partners across Europe. Together, we are resolute in our mission to advance energy security and independence, with hydrogen technologies playing a transformative and indispensable role. Advent is firmly committed to driving unparalleled innovation and leaving a profound and lasting impact in the clean energy sector. With unwavering optimism, we eagerly await the commencement of the project, which we believe is on the near horizon.”
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.
About Green HiPo
The Green HiPo project involves the development, design, and manufacture of HT-PEM fuel cell systems and electrolyser systems for the production of power and hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will aid significantly in the region’s transition from a coal-based economy to a greener economic model. A new state-of-the-art facility in Western Macedonia will be home to the production of fuel cells and electrolysers and will contribute to the economic development of the region.
“Acquisition of Land: Advent has successfully acquired the ownership rights to a prime parcel of real estate located in Kozani, Greece, laying the foundation for its future state-of-the-art facility for its Green HiPo IPCEI project.”
Think about how long it is going to take to build that facility, it will be 6-8 weeks from today to get the permitting done. A long term investor might think its time to jump in but imo it isn’t, there are gaps below and too much time for the company register a share registration diluting the SP back to the .67 area in the waiting timeframe.
PR OUT: Clock finally ticking on funding, should know in 6-8 weeks.
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