Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

"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.

[WeTheMarket]

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.

[WeTheMarket]

JDB, can you elaborate? Only a 17% dilution.

[JoEy D BuLL]

oops this stock aint worth shit wow

[WeTheMarket]

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 [phone].

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.

[WeTheMarket]

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.

[WeTheMarket]

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.

[XenaLives]

Great DD as usual, thanks.

[WeTheMarket]

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/

[WeTheMarket]

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.”

[WeTheMarket]

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.

[WeTheMarket]

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."

[WeTheMarket]

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.

[WeTheMarket]

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

[WeTheMarket]

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.

[WeTheMarket]

Big Ships and the Fuel Cell Future

Maritime Reporter TV
1.56K subscribers
Posted Nov 13, 2023

Markus Wagner of Siemens Energy and Søren Kildedal of Advent Technologies discuss collaboration on the use of methanol and an integrated fuel cell energy solutions for the maritime industry.

[KJAX]

"According to the study for the National Strategy Plan, the annual turnover of the hydrogen supply chain is estimated to reach, in Greece, 10 billion euros in 2050, leading to the development of the Hydrogen Economy," said the Minister of Infrastructure and Transport Christos Staikouras at the Hydrogen Conference: The Hydrogen Economy: Prospects, Possibilities and Opportunities for Greece.

According to Mr. Staikouras, "our country has the ideal conditions for the production of the new fuel, i.e. wind and solar fields, which can provide it with the energy lead in Europe (Crete - creation of Hydrogen Valleys)" . As he pointed out, according to research, "hydrogen can cover 20% - 50% of energy demand in transport, and 5% - 20% in European industry by 2050". He even added that in Greece, the development of green hydrogen is expected to be directed, as a matter of priority, to the heavy road transport and aviation sectors.

As Mr. Staikouras announced, the Ministry of Infrastructure and Transport, in collaboration with the Ministry of Environment and Energy, have issued a Joint Ministerial Decision, which describes the procedures for licensing and operating hydrogen stations and added that the secondary legislation will be supplemented by a second Joint Ministerial Decision which will concern the terms and conditions, as well as the safety specifications for the start of operation of hydrogen repair and maintenance workshops, as well as the relevant Presidential Decree for the start of the profession of maintenance and repair technician for vehicles powered by hydrogen.

Finally, according to the Minister of Infrastructure and Transport, the goal is to create at least 26 hydrogen filling stations in our country by 2030. As he said, this is an effort in which there will be competence of several Ministries, such as the National Economy and Finance, the Interior, the Environment and Energy, Shipping and Infrastructure and Transport, as well as organizations such as AADE. "This proves how complex, but at the same time how important, the project is to institutionalize hydrogen as a transport fuel," he concluded.

https://athina984-gr.translate.goog/2023/11/28/chr-staikoyras-sta-10-dis-eyro-etisios-i-oikonomia-toy-ydrogonoy-to-2050/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

[WeTheMarket]

Linkedin post.
https://www.linkedin.com/posts/advent-technologies-inc_fuelcells-hydrogen-hydrogennow-activity-7133825810636976131--rPE

[WeTheMarket]

Advent Technologies Granted 180-Day Extension by NASDAQ to Regain Compliance with Minimum Bid Requirement
November 22, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Granted-180-Day-Extension-by-NASDAQ-to-Regain-Compliance-with-Minimum-Bid-Requirement/default.aspx

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced that it has received a notification letter from Nasdaq Stock Market LLC (“Nasdaq”) that the Company has been granted an additional 180-day compliance period, or until May 20, 2024, to regain compliance with Nasdaq’s minimum bid price rule.

Nasdaq’s determination is based on the Company meeting the continued listing requirement for market value of publicly held shares and all other applicable requirements for listing on Nasdaq, with the exception of the bid price requirement, and the Company’s written notice of its intention to cure the deficiency during the second compliance period and if necessary, by effecting a reverse stock split.

In a notification letter dated May 24, 2023, Nasdaq previously informed the Company that, based on the previous 30 consecutive business days, the Company’s ordinary shares no longer met the minimum $1.00 bid price per share requirement. Therefore, in accordance with Nasdaq’s Listing Rules, the Company was provided 180 calendar days, or until November 20, 2023, to regain compliance.

If at any time before May 20, 2024, the closing bid price of the Company’s ordinary shares is at least $1.00 per share for a minimum of 10 consecutive business days, the Company will regain compliance with this Nasdaq rule and this matter will be closed.

This current notification from Nasdaq has no immediate effect on the listing or trading of the Company’s ordinary shares, which will continue to trade on Nasdaq under the symbol “ADN”.

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 Holdings, Inc.
Michael Trontzos
[e-mail]

Source: Advent Technologies Inc.

[WeTheMarket]

Form 8-K
November 21, 2023
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/92633731/form-8-k-current-report

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 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 was 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”). This initial letter provided that the Company had until November 20, 2023, to regain compliance with the Minimum Bid Requirement (the “Initial Period”) by maintaining a closing bid price of $1.00 per share for a minimum of ten consecutive business days.

The Company requested in writing an additional 180-calendar day compliance period after the expiration of the Initial Period to regain compliance with the Nasdaq requirements and informed Nasdaq of its intention to cure the deficiency during any second compliance period extension by effecting a reverse stock split, if necessary. During the Initial Period, the Company continued to satisfy 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.

On November 21, 2023, Nasdaq notified the Company that, after an analysis of the requirements under Nasdaq Listing Rule 5810 (c)(3)(A), the Staff determined that the Company is eligible for an additional 180 calendar day extension period (the “Additional Period”), or until May 20, 2024, to regain compliance with the Minimum Bid Requirement. This Additional Period relates exclusively to the bid price deficiency and the Company may be delisted during this Additional Period for failure to maintain compliance with any other listing requirements which occur during the Additional Period. If at any time during the Additional Period the closing bid price of the Common Stock is at least $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and this matter will be closed.

In the event that the Company is not able to cure the bid price deficiency during the Additional Period, the Staff will provide written notice that the Common Stock will be delisted; 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 able to regain compliance with the Minimum Bid Requirement or maintain compliance with the other Nasdaq listing requirements during the Additional Period or that, if the Company is unable to cure the deficiency in the Additional Period and appeals the delisting determination by the Staff to the Panel, such appeal would be successful.

The Company intends to continue 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.

[WeTheMarket]

Greek REPowerEU projects approved by Brussels - €560 million for savings, from €75 million. hydrogen and CCS, EUR 85 million; for storage
George Fintikakis
22 11 2023
https://energypress.gr/news/ta-ellinika-erga-toy-repowereu-poy-enekrinan-oi-bryxelles-560-ekat-gia-exoikonomisi-apo-75

The first step was taken, the entire list of energy projects that the Ministry of Energy had included in the revised REPowerEU got the green light from Brussels and now the program is entering the difficult phase, namely the implementation phase.

The ministry is well aware, due to Skylakakis' previous tenure in Finance, how demanding it is for different bodies, public services and individuals, to coordinate in order to implement the milestones of the RRF program on time, as well as what it means not to achieve it. And time is pressing, the three years until December 31, 2026, may seem like a lot, but in reality it is too little to have absorbed by then, amounts of 795 million euros, taking into account the complexity of the projects.

What are the Greek REPowerEU funds about? It is EUR 560 million for saving actions, EUR 75 million for saving actions. for hydrogen and bioethanol, EUR 75 million; for the CCS supply chain (transmission systems and pipelines) and EUR 85 million for energy storage systems.

And also envisaged a number of reforms, such as optimizing land use and maritime space for renewable energy development, increasing grid and energy storage capacity to promote storage investments, initiative for policies and toolkits to promote energy sharing, which also need to be run.

In short, all the programs we had submitted were approved after the exhaustive discussions between the Ministry of Environment and Energy with the Commission. And now we are starting to prepare for the calls for tenders, for which the information indicates that the times will be short, so that we can have relatively quick results and the first absorptions. The government is well aware that the margins are tight unless the RRF is extended, given that other countries are far behind Greece and the risk of losing resources is high.

Because the big difference between the Recovery Fund projects and the NSRF is that there are no procedures that act as "bridges" and transfer money from one use to another. If the Fund's projects are not done on time, then they will not be done. The four groups of Greek actions that received the "green light" from the Commission concern:

1. €560 million for energy efficiency actions. That is, in new "Energy Saving at Home" and "Energy Saving Business", as well as in "Photovoltaics on the Roof", in "Recycle - Change Water Heater", as well as in action to improve the energy efficiency of municipal water supply and sewerage companies, known as DEYA. It is the only way to achieve the objectives of the new NECP and for Greece to multiply its performance in the field of energy efficiency as soon as possible, one of the main policy pillars of the Ministry of Energy. A key lever in this direction is the European strategy "Renovation Wave" for housing upgrade". Its contribution is crucial to achieve the target of the new NECP of no more than 15.4 million tonnes of oil equivalent in 2030. This implies a 7% reduction compared to the previous NECP.

2. EUR 75 million for pilot projects for hydrogen and biomethane production. This is where Skylakakis' recent report to the IENE conference on competition between new technologies, uncertainty and how a small country like Greece should move has its value. "There are many technologies today that compete with each other, but we do not know which one will prevail in the end and above all, whether we will choose right or wrong. We don't know if hydrogen, biomethane or batteries will be preferred, so a mistake in the forecast will cost huge economic damage," the minister said. In other words, caution must be exercised against immature technologies, as there is a risk that we will pay a lot of money without any real effect. The report of Deputy Minister Al. Sdoukou that the further development of hydrogen requires funds of EUR 700 million. EUR per year in investment grants.

3. Also €75 million for Carbon Capture and Storage (CCS) projects. In Prinos, Energean is developing a CO2 storage plan as part of an overall Mediterranean chain of carbon capture, transport and storage. It has already received from EDEYEP the statutory right of investigation valid for 22 months, starting on October 1, 2022, to prepare studies concerning the characterization of the suitability of Prinos as a CO2 storage site.

4. Finally, EUR 85 million for the installation of additional storage systems. The government has long indicated its intention to include energy storage units (batteries and pumped storage) in REPowerEU funding. The EUR 85 million This will be in addition to the EUR 200 million. which have already been committed for the same purpose through the Recovery Fund and concern the three tenders of RAAEY for storage stations, which must be operational by 31 December 2025, according to the foreseen tight timelines.

The challenge for REPowerEU, as for the whole RRF, was and remains the absorption of resources. The gradual implementation of the first projects also highlights the well-known pathologies of the Greek public administration. Unprecedented coordination by the stakeholders is required, in order to overcome the difficulties and not miss milestones and timetables. And it is no coincidence that Brussels has occasionally pointed out to Greece that the Greek programme is reaching a point after which projects will increasingly rely on the administrative strength of authorities at local and regional level, whose weaknesses are well known.

[WeTheMarket]

EU: Approved Greece's revised recovery and resilience plan including new chapter for REPowerEU
Tuesday 21 November 2023
https://www.amna.gr/eu/article/777494/EE-Enekrine-to-anatheorimeno-schedio-anakampsis-kai-anthektikotitas-tis-Elladas-pou-perilambanei-neo-kefalaio-gia-to-REPowerEU

The revised recovery and resilience plan submitted by Greece, which includes a new chapter for REPowerEU with additional energy-related reforms and investments, has been positively assessed by the European Commission.

The size of the Greek recovery plan now stands at €35.95 billion, with €18.22 billion in Recovery and Resilience Facility (RRF) grants and €17.73 billion in RRF loans. The plan covers 76 reforms and 103 investments.

The REPowerEU chapter consists of seven new reforms and four investments, including the scaling up of an existing investment. These measures will enable Greece to realize RepowerEU's goal of making Europe independent of Russian fossil fuels well before 2030. The measures focus on facilitating the development of more renewable energy sources, including hydrogen and offshore wind, and facilitating the rapid integration of renewable energy into the electricity grid.

In addition, Greece proposed several changes to its original plan. In particular, the amended plan includes four new or strengthened reforms in the areas of primary health care, the fight against tax evasion, property rights and the financial sector. The amended plan also includes four new investments, three of which are supported by the need to take into account the damage caused by the catastrophic fires and floods that hit Greece in August and September 2023.

In particular, Greece decided to redistribute funds to finance two investments in flood protection and erosion control in the Evros and Rhodope areas affected by forest fires. Another investment aims to restore the rail and road networks damaged during the disastrous floods in the Thessaly region last September. The revised plan also includes investment in earthquake prevention to increase infrastructure resilience to natural disasters. These measures are intended to help address the challenges of climate change and complement the civil protection measures already included in the original plan.

The changes proposed by Greece to the original plan are based on the need to consider:

- the downward revision of the maximum grant allocation under the RRF in Greece, from €17.77 billion to €17.43 billion. This downward revision is a result of the June 2022 update of the allocation of RRF grants and reflects Greece's better expected economic performance in 2020 and 2021;

- the objective circumstances preventing the fulfillment of certain measures as originally envisaged, including high inflation affecting in particular the construction sector;

- the request to absorb €5 billion from available RRF loans and integrate €768 million into additional RRF grants under REPowerEU.

In order to finance the increased ambition of its plan, Greece requested that its share of the Brexit Adjustment Reserve (BAR) of EUR 25.6 million be transferred to the plan in accordance with the REPowerEU Regulation. These funds, as well as grants under the MAA and REPowerEU for Greece (amounting to €17.43 billion and €768 million, respectively) and its request for new loans (amounting to €5 billion) , in addition to the loans included in the original plan (amounting to 12.73 billion euros), form the total amount of the modified plan to 35.95 billion euros.

The amended plan maintains a very strong focus on the green transition, allocating 38.1% of the available funds (up from 37.5% in the original plan) to measures supporting climate goals. Regarding the additional loans requested by Greece, the financial institutions commit to invest at least 38.5% of the funds to support the climate transition.

At the same time, the amended plan continues to make a significant contribution to the digital transition in the areas of connectivity, digital public services, human capital and digital skills, the digitalization of businesses and the adoption of advanced digital technologies. While the share of digital spending in the amended plan has decreased in relative terms (from 23.3% to 22.1%), the contribution to the digital transition in absolute terms is increasing compared to the original plan adopted in July 2021.

In particular, part of the additional loans requested by Greece is expected to be used for digital investments in very high capacity broadband networks, digitization of SMEs and large enterprises, development and installation of cyber security technologies, advanced digital technologies and other types of information and communication technology infrastructure ( ICT), in light of the commitment of financial institutions to invest at least 20.8% of funds in such interventions.

The social dimension of the amended plan remains ambitious, with a flagship reform of the primary health care system expected to increase access to health care, reduce inequalities and promote disease prevention.

Additional investments in fire protection, flood protection and anti-erosion infrastructure complementing the civil protection measures in the original plan, as well as new up-skilling programs to integrate refugees into the labor market are also expected to have a positive social impact.

In addition, through the planned investments in energy renovations of residential buildings and in renewable energy sources produced by energy communities, over 60 000 energy poor households are expected to benefit, while through the expansion of energy storage capacities and preliminary inspection of the seismic resistance of buildings of the public sector, Greece's recovery and resilience plan contributes to addressing the country's socio-economic challenges and strengthening Greece's resilience.

The Council now has, as a general rule, four weeks to approve the Commission's assessment. The Council's approval will allow Greece to receive €158.7 million in pre-financing from REPowerEU funds.

Finally, it should be noted that Greece has so far received 11.2 billion euros from MAA funds: pre-financing of 4 billion euros and disbursement of the first two payments of 7.2 billion euros.

[WeTheMarket]

Keynote speech by President von der Leyen at the European Hydrogen Week 2023, via video message
20 November 2023
https://ec.europa.eu/commission/presscorner/detail/en/speech_23_5907

Dear friends of Hydrogen Europe and the Clean Hydrogen Partnership,
Excellencies, Distinguished guests,
Ladies and gentlemen,

I remember very vividly the moment when we launched the European Green Deal, exactly four years ago. Back then, clean hydrogen was the dream of a few visionaries – many of whom are in the audience today. Those visionaries believed that clean hydrogen could be central to our transition towards climate neutrality. With its potential to power heavy industries, to propel trucks and trains, and to store seasonal energy.

Today, four years later, the hydrogen economy is blooming. The first hydrogen buses are running in European cities, from Riga to Barcelona. Construction works have just begun on the Port of Rotterdam, to build a hydrogen network that will span for over one thousand kilometres. And weeks ago, the world's first plane powered by liquid hydrogen cruised the skies of Slovenia. It is the dawn of the clean hydrogen era. And all of this is happening thanks to people like you, pioneers and believers in the clean hydrogen revolution.

In these four years, we have done our utmost to support and accompany you. To help you bring innovative hydrogen solutions from the laboratory to the factory, from the factory to the market, and from niche to scale. We have been working on three main strands.

First, strong public investment to scale up the hydrogen market. Second, international cooperation to build a global market for hydrogen. And third, a new partnership with the private sector to spur innovation. Let me update you on the progress we have achieved so far on each strand of work.

First, on investment. The European Green Deal is backed by massive investment. With NextGenerationEU and REPowerEU, we are investing in hydrogen valleys, hydrogen trains, and clean-steel factories. We have authorised over 17 billion euros in State Aid for roughly 80 hydrogen projects across the EU. And this week, we are taking the next step, launching the first auction of the European Hydrogen Bank. It is backed by 800 million euros in European funding. And more importantly, it will attract private sector financing and result in commercial off-take agreements.

Today I can also announce the next steps for the European Hydrogen Bank. In Spring 2024, we will launch the second round of auctions, reaching a total value of three billion euros. It is a promise we made one year ago, and it is now becoming reality. In parallel, we are also working on the international leg of the European Hydrogen Bank. This will secure diversified imports of renewable hydrogen from reliable suppliers abroad.

And this leads me to my second point. That is,

developing a global market for clean hydrogen. We have already signed hydrogen partnerships with countries ranging from Egypt, Kenya and Namibia, to Latin American countries. They have immense potential to produce clean energy, transform it into clean hydrogen, and then ship it to the world.

And here at the Hydrogen Week, new and exciting initiatives will see the light and will be discussed. With Kazakhstan, Australia and Oman. And together with President Lula of Brazil, we are announcing the European Union's support to build one of the biggest hydrogen projects in the world, in the Brazilian State of Piaui. It is part of a two billion euro Global Gateway investment in the hydrogen value chain in Brazil.

This new Green Energy Park will be a 10 GW production facility for clean hydrogen and ammonia, which will then be shipped to the island of Krk in Croatia. From there, hydrogen will travel to serve industrial off-takers in South-East Europe. And in parallel, this project will create local jobs and value chains in Brazil.

All of this shows, more than ever, that Europe is not only a clean hydrogen pioneer, but also a partner – to build a worldwide hydrogen market. With these public investments we are helping attract and mobilise massive private capital.

Cooperation with the private sector is my third and final point. This has always been the logic of the European Green Deal: We provide clear rules and incentives, so that you, inventors and investors, can push forward the clean transition. With you, the industry, in the driving seat. This is why we have just launched a series of Clean Transition Dialogues with each industrial ecosystem.

And it was only natural to dedicate the first Clean Transition Dialogue to the hydrogen industry. Last month we sat down with many of you, to plan the next phase for the European hydrogen sector. Now, we have to follow up our conversation. And we will do just that. By the end of the year, we will assess how Member States plan to implement their national hydrogen commitments. To provide you with a clear roadmap towards 2030 in each Member State.

We will also make it simpler to access public financing. By creating a one-stop-shop under the European Hydrogen Bank, to guide hydrogen project promoters on EU funding. In our dialogue, we also discussed how to support producers and consumers to better find each other. Linking the demand and supply of clean hydrogen.

We will do this by creating a public platform where consumers can indicate their demand.And producers can find their off-takers.These are just three examples that show how we are moving to the next phase. From dialogue with industry to the actual creation of Europe's hydrogen market. Setting it on the fast track.

That is exactly the core business of the European Hydrogen Week. This is a place where governments meet industry, companies meet customers and ideas meet investors. It is a place where vision becomes reality. And this is the destiny of the clean hydrogen economy.

I wish you all a very successful European Hydrogen Week.

[WeTheMarket]

As a follow-up to my previous post, I'll add the following two important facts about hydrogen people might not be aware off (not mentioned in the article, perhaps assumed as common knowledge):
- First, due to its significantly higher energy density, one kg of hydrogen has the same energy content as one gallon of gasoline or diesel.
- Second, since hydrogen fuel cells in mobility applications are twice as efficient as Internal Combustion Engines in converting that energy content into miles driven, the cost of one kg of hydrogen achieves price parity with the cost of two gallons of gasoline or diesel.

Link to article https://www.h2-tech.com/news/2023/11-2023/uh-researchers-suggest-h-sub-2-sub-fuel-can-be-a-competitive-alternative-to-gasoline-and-diesel/

[WeTheMarket]

UH researchers suggest H2 fuel can be a competitive alternative to gasoline and diesel
17 Nov 2023
https://www.h2-tech.com/news/2023/11-2023/uh-researchers-suggest-h-sub-2-sub-fuel-can-be-a-competitive-alternative-to-gasoline-and-diesel/

As the world strives to cut greenhouse gas (GHG) emissions and find sustainable transportation solutions, University of Houston (UH) energy researchers suggest that H2 fuel can potentially be a cost-competitive and environmentally friendly alternative to traditional liquid fuels, and that supplying H2 for transportation in the greater Houston area can be profitable today.

A white paper titled " Competitive Pricing of Hydrogen as an Economic Alternative to Gasoline and Diesel for the Houston Transportation Sector" examines the promise for the potential of H2-powered fuel cell electric vehicles (FCEVs) to significantly reduce GHG emissions in the transportation sector. More than 230 MM metric tpy of CO2 gas are released by the transportation sector in Texas.

Traditional liquid transportation fuels like gasoline and diesel are preferred because of their higher energy density. Unlike vehicles using gasoline, which releases harmful CO2, and diesel – which contributes to harmful ground-level ozone, fuel cell electric vehicles refuel with H2 in five minutes and produce zero emissions.

According to the Texas Department of Transportation, Houston had approximately 5.5-MM registered vehicles in the fiscal year 2022. Imagine if all these vehicles were using H2 for fuel. Houston, home to many H2 plants for industrial use, offers several advantages, according to the researchers.

"It has more than sufficient water and commercial filtering systems to support H2 generation," the study states. "Add to that the existing natural gas pipeline infrastructure, which makes H2 production and supply more cost effective and makes Houston ideal for transitioning from traditional vehicles to H2-powered ones."

Co-authors of the paper are Christine Ehlig-Economides, professor and Hugh Roy and Lillie Cranz Cullen Distinguished University Chair at UH; Paulo Liu, research associate in the Department of Petroleum Engineering at UH; and Alexander Economides, a UH alumnus and co-founder and chief executive officer of Kiribex Inc., a global carbon-credit issuance service and marketplace that specializes in the monetization of carbon credits derived from industrial and agricultural CO2 capture, storage and utilization-related efforts.

The study compares three H2 generation processes: steam methane reforming (SMR), SMR with carbon capture (SMRCC), and electrolysis using grid electricity and water. The researchers used the National Renewable Energy Laboratory (NREL)’s H2A tools to provide cost estimates for these pathways, and the H2 Delivery Scenario Analysis Model (HDSAM) developed by Argonne National Laboratory to generate the delivery model and costs.

Additionally, it compares the cost of grid H2 with SMRCC H2, showing that without tax credit incentive SMRCC H2 can be supplied at a lower cost of $6.10/kg H2 at the pump, which makes it competitive.

"This research underscores the transformative potential of H2 in the transportation sector," Ehlig-Economides said. "Our findings indicate that H2 can be a cost-competitive and environmentally responsible choice for consumers, businesses and policymakers in the greater Houston area."

[WeTheMarket]

Fuel Cells Market For Industrial and Military Applications to increase by USD 1.17 billion between 2023 to 2028; Acumentrics Inc., Advent Technologies Holdings Inc., Air Liquide SA, and more among key companies - Technavio
Global Fuel Cells Market For Industrial and Military Applications Market 2024-2028
16 Nov, 2023, 17:35 ET
https://www.prnewswire.com/news-releases/fuel-cells-market-for-industrial-and-military-applications-to-increase-by-usd-1-17-billion-between-2023-to-2028-acumentrics-inc-advent-technologies-holdings-inc-air-liquide-sa-and-more-among-key-companies---technavio-301991050.html

NEW YORK, Nov. 16, 2023 /PRNewswire/ -- The fuel cells market for industrial and military applications size is expected to grow by USD 1.17 billion from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 14.11% during the forecast period, according to Technavio. Growing demand for efficient and cleaner technologies is notably driving the fuel cells market for industrial and military applications. However, factors such as high implementation costs of fuel cells may impede the market growth. The market is segmented by End-user (Industrial and Military), Product (PEMFC, PAFC, SOFC, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the fuel cells market for industrial and military applications including Acumentrics Inc., Advent Technologies Holdings Inc., Air Liquide SA, AISIN CORP., Altergy Systems, Australian Fuel Cells Pty Ltd., Ballard Power Systems Inc., Bloom Energy Corp., Doosan Corp., Elevator World LLC, FuelCell Energy Inc., GenCell Ltd., Hyster Yale Materials Handling Inc., Intelligent Energy Ltd., Nedstack Fuel Cell Technology BV, Plug Power Inc., Redox Power Systems LLC, SFC Energy AG, Toshiba Corp., and TW Horizon Fuel Cell Technologies

[WeTheMarket]

Advent Technologies: High-Temperature PEM Innovation in the Green Energy Industry
16 November 2023
https://ts2.space/it/advent-technologies-linnovazione-high-temperature-pem-nel-settore-dellenergia-verde/#gsc.tab=0

(Following is the Google translation from Italian)

Advent Technologies Holdings, Inc., a leader in fuel cell technology, is making progress in the green energy sector thanks to its innovative High-Temperature Polymer Electrolyte Membrane (HT-PEM) technology. Demonstrating major progress in the third quarter of 2023, Advent's advances in energy did not go unnoticed.

At the helm are Dr. Vassili Gregoriou and CFO Kevin Brackman, who have led the company to numerous outstanding achievements and partnerships, giving a boost to their business portfolio. Among these achievements is the collaboration with aerospace giant Airbus to develop hydrogen fuel cells for aviation – a project that could redefine the concept of power in the skies.

The collaboration with Airbus is ongoing and is expected to consolidate by the end of 2023, with the aim of pushing the limits of Advent's MEA (membrane electrode assembly) technology. Optimising these MEAs, key components of fuel cells, promises improved thermal management – a constant challenge in aviation – and improved performance across all industries.

Among its successes, Advent's California subsidiary was awarded a $2.2 million contract with the U.S. Department of Defense. This contract confirms the versatile application of Advent's technology, as it aims to power the HB50 portable fuel cell system. Looking ahead to advances in manufacturing processes, this partnership with the defense industry underscores the vast potential and confidence in Advent's technology for rugged, portable energy solutions.

Going beyond aviation, Advent's HT-PEM technology also shows promise for land vehicles and maritime applications, highlighting the company's foresight in addressing diverse energy needs. Advent Technologies has positioned itself as an innovator in the field of high-temperature fuel cell solutions, with the aim of charting a greener and more efficient path across different industries.

FAQ

What is Advent Technologies Holdings, Inc.?
Advent Technologies Holdings, Inc. is a company specializing in fuel cell technology, with a focus on its proprietary High-Temperature Polymer Electrolyte Membrane (HT-PEM) technology, which caters to the green energy sector.

What significant progress has Advent Technologies made in the third quarter of 2023?
In the third quarter of 2023, Advent Technologies made significant progress in energy innovations, including a collaboration with aerospace giant Airbus to develop hydrogen fuel cells for aviation.

Who are the leaders of Advent Technologies?
Dr. Vassili Gregoriou is at the helm of Advent Technologies, along with CFO Kevin Brackman.

What are the details of the collaboration between Advent Technologies and Airbus?
The collaboration between Advent Technologies and Airbus focuses on improving membrane electrode assembly (MEA) technology to improve thermal management and performance for aerospace applications. It is expected to be consolidated by the end of 2023.

How is Advent Technologies involved with the U.S. Department of Defense?
Advent Technologies' California subsidiary has been awarded a $2.2 million contract with the U.S. Department of Defense to upgrade the HB50 portable fuel cell system.

What are the potential applications of Advent's HT-PEM technology?
Advent's HT-PEM technology shows promise for applications in aviation, land vehicles and marine vessels, addressing different energy needs in different industrial sectors.

Definitions

– High-Temperature Polymer Electrolyte Membrane (HT-PEM) Technology: A type of fuel cell technology that operates at higher temperatures and is used to create efficient and robust power solutions.
– Membrane Electrode Assembly (MEA): A critical component in fuel cells that consists of a proton exchange membrane sandwiched between two electrodes (anode and cathode).

Suggested Related Links

– For more information on fuel cell technology and green energy, visit eere.energy.gov.
– To explore advancements in aviation and aerospace technology, visit airbus.com.
– For more information on the U.S. Department of Defense and its involvement in technology contracts, visit defense.gov.

[WeTheMarket]

Advent Technologies Receives Funding Update for €60 Million to Launch Green HiPo IPCEI Project
November 16, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Receives-Funding-Update-for-60-Million-to-Launch-Green-HiPo-IPCEI-Project/default.aspx

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that its wholly owned subsidiary, Advent Technologies S.A. has received an update from the Greek State regarding the implementation of the Green HiPo IPCEI Hy2Tech project (the “Green HiPo Project”).

In a letter dated November 13, 2023, signed by the Governor of the Just Transition Special Authority (“JTSA”), a division of the Greek State, Advent received confirmation of the Greek State’s continued commitment to the Green HiPo Project in line with Advent’s July 18, 2022, IPCEI EU ratification announcement, and an updated funding plan for the Green HiPo Project. The plan outlines a current budget of EUR 60 million, with 40% of that funding (EUR 24 million) as a grant from Greece’s Just Transition Fund to launch the Green HiPo Project.

Advent will submit a summary report to the Greek State setting forth its revised funding plan in light of the Greek State’s update concerning this initial grant. Once submitted, Advent expects that this initial grant will commence and the successful implementation of the Green HiPo Project will begin in earnest.

The Greek State’s initial funding will be part of the broader €5.4 billion development package authorized by the European Commission in July 2022. The Green HiPo Project is one of 41 projects sharing this funding as part of the broader group of projects under the IPCEI Hy2Tech.

Dr. Vasilis Gregoriou, Advent’s Chairman and CEO, commented: “We express our sincere appreciation to the Greek State for its continued commitment to a transition away from coal and towards a green energy future. The Advent team eagerly looks forward to the commencement of the Green HiPo Project, anticipating its significant role in advancing the Hy2Tech program and supporting Europe’s decarbonization and energy independence objectives.”

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 Kozani will be home to the production of fuel cells and electrolysers and will contribute to the economic development of the region.

[WeTheMarket]

Advent Technologies Reports Q3 2023 Results
November 14, 2023
Link to Press Release https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Reports-Q3-2023-Results/default.aspx
Link to Webcast https://events.q4inc.com/attendee/625035539

Highlights
- Signed a term sheet with Airbus to launch a Joint Project for the potential use of HT-PEM fuel cells in aviation.
- Signed new supply contract with the U.S. Department of Defense of $2.2 million for portable power systems.
- Received order from a prominent fuel cell integrator in the Asian market with initial value of $1.3 million.
- Unveiled Advent’s range of Serene Power Systems at the 2023 Monaco Yacht Show.
- Continued discussions with the Greek State to finalize its procedures for state aid funding of Advent’s Green HiPo project, following official ratification from the European Commission under the Important Projects of Common European Interest (“IPCEI”) Hy2Tech Program.

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced consolidated financial results for the three months ended September 30, 2023. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”).

Q3 2023 Financial Highlights
(All comparisons are to Q3 2022, unless otherwise stated)

- Revenue of $1.3 million and income from grants of $0.5 million, for a total of $1.8 million.
- Operating expenses of $11.0 million, a year-over-year increase of $0.3 million, primarily related to an increase in expenses for our new Hood Park facility in Charlestown, Massachusetts.
- Net loss in Q3 of $(11.8) million or $(0.20) per share.
- Unrestricted cash reserves were $3.7 million as of September 30, 2023, a decrease of $6.4 million from June 30, 2023, which includes $2.1 million of cash raised from the Company’s equity line of credit with Lincoln Park Capital and a final payment of $0.7 million for the build-out of the Hood Park facility.

“The consolidation of our global operations continued during Q3 2023, which has driven efficiencies and contributed to the reduction of our cash burn. We will continue to consolidate the business as we commercialize our portfolio and expand our production pipeline,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “Our HT-PEM technology is very attractive to the transportation sector, and this is reflected across applications for maritime, aviation, and automotive. Our goal is to forge partnerships like the ones announced with Hyundai and Airbus which will provide financial support and help us accelerate the development of the technology. These partnerships will actively support our R&D and investment efforts and provide a clear path to commercialization. Furthermore, we are actively developing our pipeline for the stationary power (diesel generator replacement) market, where we see increased commercial interest for deployments in 2024. We shall remain focused on successfully developing innovative fuel cell systems and expanding our collaboration agreements with world-class partners.”

Business Updates

Airbus Term Sheet to launch a Joint Benchmarking Project: On November 6, 2023, Advent announced the signing of a term sheet with Airbus, a global leader in aeronautics, space, and related services, for a joint benchmarking project regarding an optimized Ion Pair™ Membrane Electrode Assembly (“MEA”) for hydrogen fuel cells. Airbus will provide financial support to the project and its extensive knowledge of the aviation industry. Advent will invest in people, materials, hardware, and 3rd party research centers to contribute to the goals of the project. The multi-million dollar collaboration will take place over two years. A contract based on the signed term sheet is expected to be signed by the end of 2023, and the project will commence immediately thereafter in 2024.

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. HT-PEM MEAs operating at temperatures higher than 180°C (360°F) aim to solve one of the largest challenges in aviation fuel cell use: thermal management. High temperature fuel cells allow increased performance, increased passenger carrying capability, and increased range compared to low temperature fuel cell stack technology. Advent believes that HT-PEM is a superior option not only for aviation, but also for heavy-duty trucks, the automotive industry and marine use.

New Contract with the U.S. Department of Defense: Advent secured a new $2.2 million contract with the U.S. Department of Defense (“DoD”). This milestone achievement comes under the General Technical Services prime contract and will play a crucial role in supporting the demanding mission requirements of the U.S. Army. This contract is the continuation of a series of past contracts with the U.S. DoD, and its primary objective is to further optimize Advent’s proprietary Honey Badger 50™ (“HB50”) portable fuel cell system by integrating the Company’s innovative Ion Pair MEA technology. Upon the completion of this new 12-month contract, Advent and the U.S. DoD aim to reinforce their long-term collaboration by focusing on the manufacturing process of the enhanced HB50 fuel cell system that will enable high-volume production manufacturing capacity. Advent’s Ion Pair MEA technology is anticipated to significantly enhance HB50’s performance, resulting in higher power density in an improved, more compact package, making it an ideal solution for off-grid field applications, including military and rescue operations. Since 2020, Advent has been actively improving its HB50 fuel cell system to create a highly portable and efficient power supply suitable for on-the-move battery charging and direct power supply for various U.S. Army applications. Through rigorous development efforts, the size and weight of the original 50W fuel cell system have been significantly reduced, culminating in successful field tests in 2022 and 2023, with the final technical report reinforcing its operational suitability. The HB50 power system can be fueled by biodegradable methanol, providing near-silent power generation with clean emissions. Its compact design allows it to seamlessly power radio and satellite communications apparatus, remote surveillance systems, laptops, and other battery charging needs, making it an ideal choice for covert operations. The system’s unique thermal features enable it to operate within a wide ambient temperature range from considerably below freezing to at least 40°C (104°F), therefore ensuring reliability in challenging conditions and climates. HB50’s adaptability to run on methanol as a hydrogen carrier allows it to operate at a fraction of the weight of traditional military-grade batteries. This factor is aligned with the U.S. DoD’s pursuit of lightweight and highly portable power solutions for their electronic needs, especially in conjunction with Integrated Visual Augmentation System and dismounted leader situational awareness systems for use during combat operations, like Nett Warrior.

Significant Expansion Order Contract with a Prominent Fuel Cell Integrator: Advent secured a significant expansion order contract with a prominent fuel cell integrator operating in the Asian market. Under the terms of the agreement, Advent will provide its innovative eFuel-powered (“Serene”) fuel cell stacks to be incorporated in power applications within the leisure sector in the region. The contract has a total initial value of $1.3 million. The supply chain is projected to remain active throughout 2024 in accord with the customer’s specified timeline. The primary application of Advent’s fuel cell stacks is to serve as sustainable prime and back-up power sources in small cabins, working in conjunction with batteries. The market for portable fuel cells, especially in the context of the leisure industry, is currently niche. However, because of the requirement to reduce carbon and other particulate emissions, this upswing in demand can be attributed to the increasing need for compact and portable fuel cell systems that are tailored to various leisure-related applications. The utilization of Advent’s Serene fuel cell stacks using liquid methanol as a hydrogen carrier fuel offers advantages in terms of transportation, logistics, and storage efficiency compared to gaseous hydrogen, thus enhancing operational safety. Advent’s Serene fuel cells stand out with their small footprint, occupying only about a third of the space required by a typical comparable diesel generator. Beyond their environmental advantage in terms of reduced emissions, Serene fuel cells provide an uninterrupted power supply across diverse environmental conditions and geographical locations. Serene fuel cells operate seamlessly within ambient temperatures ranging from -20°C to +50°C (-4°F to 122°F) and are designed to function efficiently even in humid and polluted air, showcasing exceptional adaptability.

Advent Unveils its Range of Serene Power Systems at the Monaco Yacht Show: On September 27, 2023, Advent unveiled its range of Serene Power Systems, resulting from the synergy of the Company’s High-Temperature Proton Exchange Membrane (“HT-PEM”) fuel cells with a compact battery unit, designed to fulfil both primary and auxiliary power requirements for vessels. Serene Power Systems integrate a compact battery, significantly smaller than traditional battery-only solutions, with a small fuel cell configuration operating on methanol, biomethanol or eMethanol. This combination not only can serve as the primary power source for smaller vessels, including leisure boats, sailboats, ferries, and inland river vessels, but also replace conventional diesel generators, providing a clean and efficient power alternative for a wide range of maritime applications. Furthermore, Serene Power Systems offer robust power capacity for supporting auxiliary loads on larger vessels and supply convenient shore power solutions for vessels at ports. Leveraging Advent’s patented HT-PEM technology, Serene Power Systems are purpose-built for optimal performance with various fuels. Operating at high temperatures, they efficiently generate electricity while producing heat, significantly boosting overall efficiency, reaching up to 85%. Methanol, a standout energy delivery and storage medium, excels as a superior hydrogen carrier, releasing hydrogen catalytically through a fuel reformer. Moreover, methanol offers the advantage of efficient storage and wide availability through existing infrastructure, with a distribution network akin to conventional fuels, establishing it as a safe and cost-effective maritime fuel option. Serene Power Systems offer several key advantages:

- Customized for Every Vessel: Meticulously designed with modular flexibility, Serene Power Systems adapt to each vessel’s unique specifications, ensuring durability and simplicity while allowing for effortless customization.
- Near Silent Operation: Serene Power Systems preserve the tranquility of the vessel experience by eliminating disruptive noise and vibration.
- Minimal Maintenance, Cost-Efficiency: Advent’s innovative design significantly reduces the need for maintenance, repair, and operations, sparing vessel owners from mid-journey engine servicing inconveniences and providing more uninterrupted time on the open waters.
- Competitive Pricing: Efficiency extends to cost-effectiveness. Advent’s low-maintenance fuel cell solutions offer a competitive total cost of ownership, benefiting both the environment and the financial bottom line.
- Effortless Refueling: Advent’s Serene Power Systems recharge themselves by converting liquid green methanol fuel into electric power. Advent is planning to introduce 100% green eMethanol, derived from green hydrogen and sustainable power sources, enabling vessels to harness the energy of the sun and wind.

Clean Transition Dialogue on Hydrogen Organized by the European Commission: OnOctober 10, 2023, Advent actively participated in the inaugural Clean Transition Dialogue on Hydrogen organized by the European Commission in Brussels. This very significant event, which addressed the vital hydrogen sector’s role in ensuring Europe’s energy independence, brought together key figures from the EU and top executives from companies and organizations engaged in the European hydrogen value chain. The event opened with an address by European Commission President Ursula von der Leyen and featured a keynote speech by Executive Vice President Maroš Šefcovic. Specialized thematic sessions followed, during which participants explored ideas and best practices to strengthen the industrial dimension of the European Green Deal and expedite the growth of the hydrogen sector throughout Europe. Dr. Vasilis Gregoriou, the Chairman and CEO of Advent Technologies, who also chairs the Coordination Group for the Important Projects of Common European Interest (“IPCEI”) in hydrogen technology (“Hy2Tech”), had the opportunity to brief President von der Leyen on the progress of projects endorsed by the EU under IPCEI Hy2Tech. Dr. Gregoriou also addressed the length of time that it is taking to secure funding for Advent Technologies’ EU-ratified Green HiPo project in Greece, reiterating the Company’s resolute commitment to executing the project efficiently.

Update on Green HiPo Project: The Green HiPo project is among the 41 initiatives under IPCEI Hy2Tech, collectively prepared and reported by fifteen Member States. Its implementation is a pivotal step towards fulfilling the EU’s goal of producing 10 million tons of renewable hydrogen in Europe by 2030. In July 2022, the European Commission officially ratified Advent’s Green HiPo project following a notification by the Greek State in June 2022, securing total state aid funding of up to EUR 782.1 million. The Green HiPo project focuses on the development, design, and production of HT-PEM fuel cell systems and electrolyser systems for the production of power and green hydrogen, respectively. Located in Kozani, Greece, this project is expected to play a crucial role in transitioning the Western Macedonia region from a coal-based economy to a more sustainable economic model. A state-of-the-art facility in Kozani is intended to serve as the production hub for fuel cells and electrolysers, contributing significantly to the region’s economic development. Advent has already installed over 1,200 HT-PEM fuel cell systems worldwide, replacing environmentally harmful diesel generators and providing clean energy to sectors such as telecommunications and critical communication infrastructure. Moreover, Advent is expected to lead the way in electrifying commercial ships, trucks, and aircraft, with these fuel cell systems being produced in the Kozani region as part of the Green HiPo project.

Advent is working closely with the Greek State to help it finalize its internal processes and procedures so that the funding of Green HiPo will commence.

Dr. Gregoriou concluded, “Advent continues to make significant progress across the portable, stationary and transportation power sectors. We will continue to consolidate our business with a view to maximizing efficiency and effectiveness throughout our global operations, and to focus on core markets and significant projects. As an update to Green HiPo, we have been working actively with the Greek State to finalize their procedures that will result in the release of state aid funding. I am confident in the potential of Advent and our technology, and I am very optimistic that we will continue to increase market share as economies embrace clean energy and decarbonization.”

Conference Call

The Company will host a conference call on Tuesday, November 14, 2023, at 9:00 AM ET to discuss its results.

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

A replay of the call can also be accessed via phone through November 28, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

About Advent Technologies Holdings, Inc.

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

[WeTheMarket]

Advent of hydrogen in flights
Dimitris Delevegos
13.11.2023
https://www.ekathimerini.com/economy/1224670/advent-of-hydrogen-in-flights/amp/

When Advent won an international business competition in Athens in 2006, few would have predicted that the company – a spin-off of the Research & Technology Foundation and the University of Patras – would become the protagonist in hydrogen technology.

From 2010 the company expanded to the US by developing hydrogen technology based on materials and equipment that first appeared in the research laboratories in Patra.

Hydrogen is the fuel of the future, experts say. It does not emit carbon dioxide and can serve the goal of decarbonization as, unlike renewables, it does not depend on the intensity of wind potential and the degree of sunshine. Advent creates fuel cells that convert hydrogen into clean electricity and heat via chemical reactions. With aviation gradually shifting to the use of hydrogen, one of Advent’s recent partnerships is with aircraft manufacturer Airbus.

“Airbus is interested in leveraging Advent’s technology, which we believe is the most ideal option for accelerating the decarbonization of aviation. Our collaboration with the French group is expected to start in January 2024, while Airbus estimates that the first test flights will take place in 2026,” explains Advent co-founder, Chairman and CEO Vasilis Gregoriou.

[WeTheMarket]

Unleashing H2 innovation Podcast: Solid oxide electrolysis and its decarbonization potential
24 Oct 2023

In this episode of H2TechTalk, we dive into the world of solid oxide electrolysis technology with Jon Harman, the Technology Delivery Director for Ceres. Live at the Hydrogen Americas Summit in Washington DC, Jon discusses the potential of solid oxide electrolysis in decarbonizing industries such as steel and ammonia production. He sheds light on the advantages of high-temperature operation and the transformative impact this technology can have on sustainable H2 production. Learn how Ceres is looking to partner with the U.S. market and what the future holds for this innovative solution.

Link to Podcast https://h2-tech.com/podcasts/2023/10/unleashing-h-sub-2-sub-innovation-solid-oxide-electrolysis-and-its-decarbonization-potential/

[WeTheMarket]

JDB, sorry I don't.

[JoEy D BuLL]

do you have estimates or expectations?

[WeTheMarket]

Advent Technologies Announces Date for Third Quarter 2023 Earnings Call
November 7, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Announces-Date-for-Third-Quarter-2023-Earnings-Call/default.aspx

Company to Report Q3 2023 Results on November 14, 2023

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced that it will release its financial results for the third quarter ended September 30, 2023 on Tuesday, November 14, 2023 and will host a conference call the same day at 9:00 AM ET to discuss its results.

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

A replay of the call can also be accessed via phone through November 28, 2023, by dialing [phone] from the U.S., or [phone] from outside the U.S. The conference I.D. number is 3273042.

About Advent Technologies Holdings, Inc.

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

[WeTheMarket]

Aivaliotis: The legislative framework for the production, injection and use of hydrogen in Greece is coming soon
The Secretary General of Energy and Mineral Resources said that a plan has been submitted to subsidize green hydrogen projects of more than €50 million. from the Recovery Fund
11/07/2023
https://www.newsbeast.gr/politiki/arthro/10200658/aivaliotis-erchetai-syntoma-to-nomothetiko-plaisio-gia-tin-paragogi-egchysi-kai-chrisi-tou-ydrogonou-stin-ellada?amp=1

"Hydrogen at some point in the future will replace fossil fuels that are responsible for the climate crisis we are experiencing", stressed the Secretary General of Energy and Mineral Resources of the Ministry of Environment and Energy, Aristotelis Aivaliotis, speaking a few hours ago at the second edition of the Hydrogen conference organized by DESFA at the Benaki Museum on "Hydrogen Networks: Turning vision into action."

As the government spokesman characteristically stressed, "in full accordance with the European framework, Greece recognizes the importance of hydrogen and that is why the legislative framework for the production, injection and use of hydrogen is currently being prepared. We are working on proposals for the regulatory framework that is currently missing, it has been going on for months and we are examining all aspects of it."

According to Mr. Aivaliotis, "we aspire by 2030 to produce 1.7 gigawatts of energy in Greece that will be directed to electrolysis and production of green hydrogen and up to 30 gigawatts in the year 2050. About 65% of our green hydrogen consumption will be consumed for synthetic hydrocarbon production for use in transport in 2035." He added that as part of the use of the money from the European Recovery Fund, "we submitted a plan for the subsidy with amounts of more than 50 million for green hydrogen and methane projects, with emphasis on the former.

The Secretary General of Energy and Mineral Resources concluded by saying that "we strongly support the green hydrogen projects that are coming and we will make sure to find the financial tools to carry out the necessary projects. We will do it firmly and faithfully. I am pleased that the National Natural Gas System Operator, DESFA, is taking this initiative to hold a conference on hydrogen networks, which lead us to the green transition, replacing a series of polluting fuels that contribute to the climate crisis to date.

[WeTheMarket]

Advent Technologies Announces Intent with Airbus to Launch a Joint Benchmarking Project
November 6, 2023
https://ir.advent.energy/news/news-details/2023/Advent-Technologies-Announces-Intent-with-Airbus-to-Launch-a-Joint-Benchmarking-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 pleased to announce that it has reached an agreement with Airbus, a global leader in aeronautics, space, and related services, for a joint benchmarking project regarding an optimized Ion Pair™ Membrane Electrode Assembly (“MEA”) for hydrogen fuel cells.

Airbus will provide financial support to the project and its extensive knowledge of the aviation industry. Advent will invest in people, materials, hardware, and 3rd party research centers, to contribute to the goals of the project. The multi-million dollar collaboration will take place over two years.

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.

HT-PEM MEAs operating at temperatures higher than 180 °C (360°F) aim to solve one of the largest challenges in aviation fuel cell use: thermal management. Incumbent low-temperature fuel cells have shown limitations in supporting hydrogen flight due to thermal management issues. Advent believes that HT-PEM is a superior option not only for aviation, but also for heavy-duty trucks, the automotive industry and marine use.

The project will primarily focus on the needs for future hydrogen-fueled planes, while at the same time having the potential of significantly reducing the weight and volume of the powertrain system through a simplified balance of plant and cooling subsystems.

The project will be executed by Advent’s MEA team and closely monitored by Airbus. The project is expected to commence in January 2024.

Dr. Chris Kaskavelis, Chief Strategy Officer of Advent Technologies, commented, “We are pleased to announce that Airbus and Advent have aligned visions and efforts to achieve hydrogen flight. Both companies believe that HT-PEM is a promising technology to be benchmarked and developed as it can enable better thermal management for airplanes. We are excited to join this multi-year project with Airbus.”

About Advent Technologies Holdings, Inc.

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

[WeTheMarket]

Alfa Laval - Capturing the potential in the hydrogen sector
Nov. 2, 2023
https://finance.yahoo.com/news/alfa-laval-capturing-potential-hydrogen-083100508.html

As a reminder Alfa Laval partnered with Advent earlier this year.

Advent Technologies and Alfa Laval Partner in Marine Fuel Cell Development Project
January 10, 2023
https://www.advent.energy/2023/01/10/advent-and-alfa-laval-partner-in-marine-fuel-cell-development-project/

[XenaLives]

The entire market is so manipulated that it's not funny.... Just waiting for Armageddon.

[JoEy D BuLL]

LOOKS LIKE FIRST PROFITABLE QUARTER TO ME!!!! WOOHOOO!!!! BOOYAH BITCHES!!! ROASTIN GHOSTES MFRS!!!!

ITS NOT JUST ME RIGHT... 28.35M REVENUE / 60M SHARES = .4725C PER SHARE REVENUE.. AVG BURN RATE IS .20C PER QTR

THATS LIKE .27C NET PROFITS PER SHARE THIS QTR!!!

IS THIS ADDING UP FOR ANYBODY ELSE? I GUESS THE NUMBERS FROM BENZINGAS AUTOMATED CONTENT ENGINE COULD BE WRONG.. BUT IF NOT... BOOYAH!! BENZINGA!!! POSSIBLY THE START OF A MEGA MOVE UP..

[KJAX]

Power generator based on fuel cell technology? Yep, it's good enough! ♻️

We have teamed up with Advent Technologies A/S to create an emission-free power solution for construction sites and charging emission-free machines ♻️

Advent SereneU is a mobile power generator, based on fuel cell technology, which instead of diesel uses green methanol, which it converts internally in the system into green power that is charged on our Loxgreen PowerPack. It is better for the environment and minimizes greenhouse gas emissions in the process 🌍

Our solution is currently being tested at one of our good customers in Aalborg. If you would like to know more, please contact our Loxgreen department in Aalborg here:

https://lnkd.in/enPPsn7H

[WeTheMarket]

Key slides from Matthew Klippenstein's presentation at the Mission Hydrogen Online Conference 2023, showing that hydrogen fuel cells are growing (worldwide) at the same rate as wind and solar did, and electrolyzers are growing even faster (Last slide).

[Gadzeno]

Very interesting

[KJAX]

Plastic Waste Becomes Clean Hydrogen Goldmine
By Haley Zaremba - Oct 26, 2023, 3:00 PM CDT

A technique called flash joule heating at Rice University can convert plastic waste, even unsorted and unwashed, into clean hydrogen and valuable graphene.
If sold at just 5% of its market value, the graphene produced could make the hydrogen essentially free, provided the process is powered by renewable energies.
While green hydrogen offers significant potential for decarbonization, especially in high-heat industrial applications, its production requires vast amounts of clean energy, necessitating a balanced approach to its adoption.

Plastic Waste

A study focused on turning waste plastics into high-value graphene just unlocked a new way of producing hydrogen that could transform the nascent industry and, on a grander scale, positively alter projected decarbonization pathways. The breakthrough could be a win-win for the environment, recycling plastic waste – of which the world has approximately 6.3 billion tons – while providing high-yield hydrogen gas which can be used as clean fuel, all while producing graphene as an end product which makes the whole process economically viable. The breakthrough is detailed in a new paper in Advanced Materials.

Until now, the relatively pricey process of creating green hydrogen (as compared to combustible fossil fuels) has been a major barrier for bringing the industry up to a commercial scale. While plenty of hydrogen is already being produced and used in industrial applications, all but a slim fraction of this is gray hydrogen, or hydrogen produced from fossil fuels including coal and gas. Green hydrogen is produced from clean energies, and represents just a sliver of the current hydrogen market.

But if green hydrogen is being produced as a by-product of graphene production, the clean fuel pays for itself – and still yields a considerable profit. “We converted waste plastics—including mixed waste plastics that don’t have to be sorted by type or washed—into high-yield hydrogen gas and high-value graphene,” Kevin Wyss, who led the groundbreaking research at Rice, said in a press release. “If the produced graphene is sold at only 5 percent of current market value—a 95 percent off sale—clean hydrogen could be produced for free.” Of course, the process would still need to be powered with renewable energies for the hydrogen produced to be ‘green.’

The process involves a technique called flash joule heating, developed at Rice. “It involves grinding plastic into confetti-size pieces, mixing it with a conductive material, placing it in a tube, and then passing a very high voltage through it,” Singularity Hub recently reported. “This heats the mixture to around 5,000 degrees Fahrenheit in just 4 seconds, causing the carbon atoms in the plastic to fuse together into graphene and releasing a mix of volatile gases.” Of these gases, there was a significant amount of extremely pure hydrogen. Moreover, since all of the gases’ carbon is converted into graphene, the process does not release any carbon dioxide.

Despite its slow start, the green hydrogen industry holds great promise for the global decarbonization effort, as it can be used in industries that are particularly hard to clean up, such as steelmaking and shipping. Unlike solar and wind energy, hydrogen can be used as a combustible fuel source, meaning it can replace fossil fuels in industrial furnaces, leaving behind nothing but water vapor when it’s burned. The potential implications of a wide-scale replacement in high-heat industrial applications are hard to overstate. “Replacing the fossil fuels now used in furnaces that reach 1,500 degrees Celsius (2,732 degrees Fahrenheit) with hydrogen gas could make a big dent in the 20% of global carbon dioxide emissions that now come from industry,” Bloomberg Green wrote last year in report titled “Why Hydrogen Is the Hottest Thing in Green Energy.

However, while it seems that converting all of these heavy industries to green hydrogen as soon as possible would be an obvious win for the environment, the reality is not quite so simple. Production of green hydrogen requires enormous amounts of clean energy which may be better used in other applications. A 2022 report by the International Renewable Energy Agency (IRENA) warns against the “indiscriminate use of hydrogen,” cautioning policy-makers to consider that overuse of green hydrogen “may not be in line with the requirements of a decarbonised world.” As such, diverting too much green energy toward hydrogen production could actually slow down the decarbonization movement as a whole.

Therefore, green hydrogen scaling will need to be weighed with a careful cost-benefit analysis in different contexts. But the added elimination of plastic waste, and generation of revenue, certainly adds a wealth of new benefits to the roster.

By Haley Zaremba for Oilprice.com
https://oilprice.com/Energy/Energy-General/Plastic-Waste-Becomes-Clean-Hydrogen-Goldmine.html

[KJAX]

Linde Hellas: Our strategy to lead the production of green hydrogen in Greece - Legacy of 60 years of presence in the Greek market
ts intention to strengthen its presence in the Greek market with particular emphasis on the production of green hydrogen was underlined, among others, by the management of Linde Hellas, speaking to journalists during yesterday's celebratory event of the company for the 60 years of presence of the Linde Group in Greece.

It is noted that in 2022 Linde Hellas started the first production of green hydrogen in Greece using electrolysis technology powered by renewable clean energy sources.

This development, as the executives of the company emphasized during the press conference on the sidelines of the event, confirms the company's commitment to lead the transition to a low-carbon economy in Greece.

As Mathias Kranz, Business President REE of Linde, Ciprian Islai, Executive Director of Southeast Europe and CEO of Linde Romania and Roxana Lucuta, CEO of Linde Hellas stated in response to questions from journalists, Linde has managed to cover 25 % of its energy needs to come from RES, through PPAs, while it has set a goal of reducing emissions by 35% by 2030. Additionally, the company is also considering investments in the photovoltaic sector.
Linde

Commenting on the company's plans for the Greek market, the company's senior executives noted that at the moment there is no investment move or decision to be announced, however, they recognize Greece as a "very promising market" and are thoroughly considering any investment opportunities that may arise. arise.

In recent years, Linde Hellas has presented important moments that are milestones and highlight its customer-centric approach as mentioned. Specifically in 2015, the company put into operation a new ECOVAR oxygen production unit at the facilities of its key customer in Sindos.

In the same year, Linde Hellas started supplying hydrogen and oxygen to Navy submarines, supplying more than 40 tons of hydrogen in recent years. In 2018, it builds the first portable and automated hydrogen refueling station.

Linde's first flammable refrigerant bottling plant was inaugurated in Schimatari in 2018, providing the Greek market with access to new generation, more advanced and environmentally friendly refrigerants offering lower emissions and reduced environmental impact. During the last decade, Linde Hellas has further expanded the portfolio of products and services it provides to the market and to major customers, while obtaining marketing authorization for the production of pharmaceutical products in Greece.

https://energypress-gr.translate.goog/news/linde-hellas-stratigiki-mas-na-igithoyme-stin-paragogi-prasinoy-ydrogonoy-stin-ellada?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

[WeTheMarket]

I asked Open AI ChatGPT to guess what guidelines the Treasury Department will impose to qualify for the IRA clean hydrogen production tax credits. I did not get a great response. I continued to probe, and finally came up with a question with a decent answer, shown below. Basically, a phased in approach, like in Europe.

My Question

What specific guidelines would you recommend?

ChatGPT Answer

Crafting specific guidelines requires a detailed understanding of the energy landscape, technological capabilities, and economic considerations. However, here are some specific guidelines that policymakers might consider for implementing a phased approach to power matching for clean hydrogen production:

1. Initial Flexibility: Begin with moderate power matching requirements that allow for flexibility in clean hydrogen production. Consider annual or monthly matching targets initially before moving to more stringent hourly requirements.

2. Incentivize Advanced Technologies: Provide financial incentives, grants, or tax credits for industries adopting advanced technologies that enable precise hourly power matching. This can encourage early adoption and innovation.

3. Research and Development Funding: Allocate funding for research and development projects aimed at improving technologies related to power matching, storage, and grid integration.

4. Stakeholder Consultations: Engage in regular consultations with industry stakeholders to understand their capabilities, challenges, and potential solutions. This collaborative approach can lead to more informed and practical guidelines.

5. Public-Private Partnerships: Foster public-private partnerships to accelerate the deployment of clean hydrogen production technologies and infrastructure, ensuring a coordinated effort between the government and private sector.

6. Review Mechanism: Establish a mechanism for regular reviews of power matching guidelines to assess their effectiveness, consider technological advancements, and adjust requirements accordingly.

7. Transition Support Programs: Implement transition support programs to assist industries in upgrading their infrastructure and processes to meet the evolving power matching standards.

8. Global Alignment: Collaborate with international partners to align power matching standards globally, facilitating consistency and interoperability in the growing clean hydrogen market.

9. Education and Outreach: Conduct educational campaigns to raise awareness about the benefits of power matching, the importance of clean hydrogen production, and the long-term advantages of compliance with evolving standards.

10. Monitoring and Reporting Requirements: Implement robust monitoring and reporting requirements to ensure compliance with power matching guidelines, fostering transparency and accountability within the industry.

These guidelines should be adapted based on ongoing assessments, feedback from stakeholders, and the evolving landscape of clean energy technologies. Additionally, policymakers should consider the unique characteristics of the U.S. energy sector and collaborate with relevant stakeholders for effective implementation.

[eom7]

Either way, what's ADN going to be trading at by December 8 (Ecofin meeting in Brussels) with no news. .$10?

[KJAX]

It doesn't specify unfortunately. I will never understand how screwed up Advent, EU, and Greece are

[eom7]

Is this Green Hippo? "Specifically, they will come from other projects, which will be absorbed by the Recovery Fund"

[KJAX]

Which projects come and go from the Recovery Fund
By Vangelis Mandravelis At 07:06, 18 Oct 2023
Nikos Papathanasis © INTIME

The framework of the revision of the National Recovery and Resilience Plan (NRSP) "Greece 2.0" was presented yesterday by the relevant government officials in the Parliament . Specifically, as the Deputy Minister of National Economy, Nikos Papathanasis , stated yesterday at the meeting of the Standing Committee on Production and Trade of the Parliament , the new outline of the review of the Recovery and Resilience Fund includes 5.8 billion euros in additional resources and 1.22 billion. euros in existing resources, which will be redistributed with the aim of financing new projects.

The additional resources come from the REpowerEU program and concern new loans from the Recovery Fund, totaling 5 billion euros and new subsidies of 0.8 billion euros. The additional new loans, amounting to 5 billion euros, are expected to be channeled into private investment projects directly related to the "green transition" pillar of the TAA. On the other hand, REpowerEU provides the country with additional subsidies of €0.8 billion.

The additional subsidies will be channeled mainly into expansions of existing actions to enhance the country's energy efficiency. In particular, according to Mr. Papathanasis, the REpowerEU subsidies, amounting to 795 million euros, concern:

Actions to improve energy efficiency (€560 million):

I save at home.
I save by doing business.
Photovoltaics on the roofs.
Subsidy for households to purchase a solar water heater.
Improving the energy efficiency of municipal water supply and sewage companies.

Support for the installation of storage systems to enhance the penetration of RES (85 million euros).
Pilot projects to produce biomethane and green hydrogen and to promote the installation of CO 2 capture, use, transport and storage technologies (€150 million).

The REpowerEU additions are expected to take the total TAA budget for Greece, from around €30.1 billion today, to €35.9 billion by the end of the year. Of these, approximately half will concern loan resources and the remaining half subsidies (grants).

However, the review of ESAA "Greece 2.0" does not end here. It also includes two new categories of projects, totaling 1.22 billion euros, concerning on the one hand the only planned revision of the TAA, on the other hand, and the changes made to it, due to the extraordinary circumstances of Daniel and the need to restore the damages caused in Central Greece.

These two categories do not include new resources, but will be financed through existing resources. Specifically, they will come from other projects, which will be absorbed by the Recovery Fund, or their physical and financial scope will be reduced. Mr. Papathanasis did not give a list of the projects to be excluded/budget reduced from the TAA, but he said that they will mainly be dam development projects. He added, however, that these projects are not cancelled, but that they will be done at a later time with NSRF funding.

Regarding the planned revision of the ESAA "Greece 2.0", the plan submitted by the country included four new projects, with a total budget of 534 million euros. These are the projects:

Clearing forests and creating fire-resistant zones (Antinero ) , budget 407.7 million euros (Ministry of Environment & Energy).
Pre-earthquake inspection of public buildings , with a budget of 32.54 million euros (Ministry of Climate Crisis and Civil Protection).
Fire detection system in a refugee accommodation structure on Lesbos (LIDAR ) , budget 1.54 million euros (Ministry of Immigration & Asylum).
Smart Bridges II , with a budget of 92.37 million euros (Ministry of Infrastructure and Transport).

However, before this revision was completed, Greece applied for and received the "green light" from the Commission for a new revision of the ESAA "Greece 2.0", which will aim to restore the damage caused by Daniel in Central Greece. This new revision included the following projects:

Rehabilitation and repair of the road network and bridges that have suffered serious damage in six Regional Units in Thessaly and Central Greece, 420 million euros.
Reconstruction works of the railway network in the region of Thessaly (180 million euros).
Anti-corrosion projects to deal with the effects of the recent fires in the Evros and Rodopi regions (86 million euros).

Both the REpowerEU additions, as well as the two new ESAA "Greece 2.0" project categories, are expected to be definitively closed for the country on December 8, during the Ecofin meeting in Brussels.

https://www-powergame-gr.translate.goog/ikonomia/529295/poia-erga-erchontai-kai-poia-fevgoun-apo-to-tameio-anakampsis/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc

[XenaLives]

SEC Adopts Rule to Increase Transparency Into Short Selling and Amendment to CAT NMS Plan for Purposes of Short Sale Data Collection
FOR IMMEDIATE RELEASE
2023-221

Washington D.C., Oct. 13, 2023 —
The Securities and Exchange Commission today adopted new Rule 13f-2 to provide greater transparency to investors and other market participants by increasing the public availability of short sale related data. Congress directed the SEC in Section 929X of the Dodd-Frank Act of 2010 to promulgate rules to make certain short sale data publicly available.

“In the wake of the 2008 financial crisis, Congress directed the SEC to enhance the transparency of short selling of equity securities,” said SEC Chair Gary Gensler. “Today’s adoption will promote greater transparency about short selling both to regulators and the public. This rule addresses Congress’s mandate and improves upon existing sources of short sale-related data in the equity markets. Given past market events, it’s important for the Commission and the public to know more about short sale activity in the equity markets, especially in times of stress or volatility.”

Specifically, Rule 13f-2 will require institutional investment managers that meet or exceed certain thresholds to report on Form SHO specified short position data and short activity data for equity securities. The Commission will aggregate the resulting data by security, thereby maintaining the confidentiality of the reporting managers, and publicly disseminate the aggregated data via EDGAR on a delayed basis. This new data will supplement the short sale data that is currently publicly available.

Relatedly, the Commission today also adopted an amendment to the National Market System Plan (NMS Plan) governing the consolidated audit trail (CAT). The amendment to the NMS Plan governing the CAT (CAT NMS Plan) will require each CAT reporting firm that is reporting short sales to indicate when it is asserting use of the bona fide market making exception in Rule 203(b)(2)(iii) of Regulation SHO.

The adopting release for Rule 13f-2 and related Form SHO, as well as the notice of the amendment to the CAT NMS Plan, will be published in the Federal Register. The final rule, Form SHO, and the amendment to the CAT NMS Plan will become effective 60 days after publication of the adopting release in the Federal Register. The compliance date for Rule 13f-2 and Form SHO will be 12 months after the effective date of the adopting release, with public aggregated reporting to follow three months later, and the compliance date for the amendment to the CAT NMS Plan will be 18 months after the effective date of the adopting release.

https://www.sec.gov/news/press-release/2023-221#:~:text=The%20final%20rule%2C%20Form%20SHO,release%20in%20the%20Federal%20Register.

The OFR has established a regular schedule for publication of documents in the Federal Register, with documents typically on a three- or four-day schedule for publication depending on when they are received.4 Although this timing is a helpful starting point for determining when a document will be published in the Federal Register, the submission by the SEC of the proposed or final rule to the OFR may not occur on the same date as the announcement by the SEC of a proposed or final rule. It could take several days or longer for the agency to submit the release to the OFR. In addition, the OFR may defer publication beyond the typical publication timing (discussed above) if the document has lengthy tables, illustrations, and/or the length of the document requires additional review and processing time.5

https://www.jdsupra.com/legalnews/how-long-does-it-usually-take-for-sec-3605577


See also:

https://www.fa-mag.com/news/hedge-funds-to-get-new-sec-mandates-for-reporting-short-sales-75014.html

See also:

SEC Charges Citadel Securities for Violating Order Marking Requirements of Short Sale Regulations
FOR IMMEDIATE RELEASE
2023-192

Washington D.C., Sept. 22, 2023 —
The Securities and Exchange Commission today announced settled charges against broker-dealer Citadel Securities LLC for violating a provision of Regulation SHO, the regulatory framework designed to address abusive short selling practices, which requires broker-dealers to mark sale orders as long, short, or short exempt. These records are routinely used by regulators in policing prohibited short selling activity. To settle the SEC’s charges, Miami-based Citadel Securities agreed to pay a $7 million penalty.

According to the SEC’s order, for a five-year period, it is estimated that Citadel Securities incorrectly marked millions of orders, inaccurately denoting that certain short sales were long sales and vice versa. The SEC’s order finds that the inaccurate marks resulted from a coding error in Citadel Securities’s automated trading system and that the firm provided the inaccurate data to regulators, including the SEC during this period.

“Compliance with the order marking requirements of Reg SHO is a key component of regulatory efforts to curtail abusive market practices, including ‘naked’ short selling,” said Mark Cave, Associate Director of the SEC’s Division of Enforcement. “This action against Citadel Securities demonstrates that a broker-dealer’s failure to comply with the requirements of Reg SHO can have negative downstream consequences on the accuracy of the firm’s electronic records, including its electronic blue sheet reporting, depriving the Commission of important information about the markets it regulates.”

The order charges Citadel Securities with violating Rule 200(g) of Reg SHO. Without admitting or denying the findings, Citadel Securities consented to a cease-and-desist order imposing a censure, a $7 million penalty, and a set of undertakings, including a written certification that the coding error has been remediated and a review of the firm’s computer programming and coding logic involved in processing relevant transactions.

The SEC’s investigation was conducted by Seth M. Nadler of the SEC’s Home Office. Christopher Ray of the SEC’s Division of Trading and Markets; Elcin Yildirim, Alan Lenarcic, and Peter Csatorday of the SEC’s Division of Examinations; Mandy Sturmfelz of the SEC’s Market Abuse Unit; Damon Taaffe and Melissa Armstrong of the Home Office Trial Unit; and Kevin Gershfeld and Robert Nesbitt of the Enforcement Division’s Office of Investigative and Market Analytics provided assistance. The investigation was supervised by Mr. Cave.

###

https://www.sec.gov/news/press-release/2023-192