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I actually bought @.17 sold @..36 didn’t have much shares only 20,000 but hey I’m happy
Yeah you need at least 10k to have fun... and flip half of it lol... something like that makes sense to me...
But gambling is sin
PP786, same here, I'm an investor. I don't have the skills to be a trader, like reading charts, etc. Trying to learn though, to do a combination strategy, where I maintain a core position, and trade a small percentage of my holdings.
Chanced the news... got lucky... because they've dropped news many times before and not moved up.... so it's liter dumb luck if he did get in .18 let's say and get out. 34-.36 but someone who flips everyday can do it... personally, I'm not a flipper... but if I was investing 10k +, I would ONLY flip
INFINITI, you seem to have timed the peak perfectly, how did you do it?
ADN: Maybe today's DARK-HORSE winner?????? (Our men need HYDROGEN!!!! No???? When I buy Dollar Store PARTY balloons, I like them filed with HYDROGEN!!! Then, I set them on FIRE!!!! My kids LOVE-IT!!!)
Advent Technologies: First step for hydrogen plant in Kozani
February 27, 2024
https://www.moneyreview.gr/green-economy/137419/advent-technologies-proto-vima-gia-monada-ydrogonoy-stin-kozani/
One step closer to the start of implementation is the hydrogen plant in Western Macedonia and specifically in Kozani, a project with a budget of EUR 60 million. euro. The project, known as Green Hipo, is to be developed by technology company Advent Technologies, which seeks to operate in the international market for next-generation fuel cell technology. It is part of the important project of common European interest Hy2tech, which aims to promote hydrogen technologies, involving 41 individual projects of 35 European companies.
To this end, the competent department of the Ministry of National Economy and Finance has invited, through a public call, to submit project proposals (for Green Hipo) to be financed by the Community program Just Development Transition. The submission process closes on 22 April, with the project having a total budget of EUR 60 million. EUR 24 million, of which correspond to public participation. In other words, if its proposals are approved, Advent will receive ECU 24 million. It is seeking to secure the necessary funds to finance its entire investment of EUR 60 million. euro.
The aim of Green Hipo, which is part of Hy2tech, is to create the right ecosystem in Greece for the development of hydrogen technologies and for this reason the company should cooperate with public bodies, but also with Greek universities and research institutes. The project concerns research, development and innovation, as well as the first industrial development (note: i.e. in a pilot stage and not for mass production) of innovative fuel cell systems and electrolyzers. Thus, industrial research and development facilities will be created in Greece for the design and development of innovative fuel cell systems with a total electricity output of 400 MW and corresponding thermal power, as well as electrolysis units with a total capacity of 4.65 GW, in the company's production lines to be installed in Western Macedonia.
"Through Green Hipo, we aim to contribute substantially to the transition of Western Macedonia from a carbon-based economy to a greener economic model and at the same time help the region maintain its role as the country's largest energy center. By ensuring the rapid implementation of projects such as Green Hipo, Europe will be able to accelerate its path towards energy independence, while promoting the development of a competitive hydrogen sector", the co-founder, president and CEO of Advent, Dr. Vasilis Gregoriou, told Kathimerini.
The company is listed on Nasdaq, with its share price trading below $1. As a result, the condition set by the US stock exchange for a minimum trading price of $ 1 is not met. per share, but the company's management estimates that by May 20, when the deadline expires, it will have complied with Nasdaq regulation.
It is estimated that more than 500 companies on the Nasdaq and New York Stock Exchange have their share price trading below $1.
It was a good run
No more gas lol
I bet you Timothy Sykes squad pumped it up... and shorts are trying to dump it back down... He called it this morning in the AM.... lol with the drop of the news...
Yeah crazy never know
Yeah, imagine it went to 2-3$ and confirmed one of their grants and ran up to $2-$5 lol... it probably won't happen, but mms and millionaires are looking to make bank while the house of cards is collapsing
Out @.36 waiting to go lower to get back in
Personally, I got in this afternoon. I'm still in
May dump by morning
Thanks for clearing that up!
PP786, INFINITI, Advent has been waiting for these Green HiPo IPCEI funds for almost two years, since first announced. There have been many Press Releases (see links below) including today, but nothing concrete yet that says that Advent has finally received any of the funds/grants promised. Every new Press Release seems like progress is being made, but until Advent actually receives the funds/grants, the share price will not see substantial improvements.
https://advent.energy/2022/07/18/advent-technologies-receives-official-ratification-from-the-european-union-for-the-green-hipo-ipcei-project/
https://advent.energy/2022/09/13/green-hipo-press-conference/
https://advent.energy/2023/05/26/advent-technologies-update-on-green-hipo/
https://advent.energy/2023/11/16/advent-technologies-receives-funding-update-for-e60-million-to-launch-green-hipo-ipcei-project/
DOE’s L’Innovator Pioneers a New Model for Jumpstarting Commercialization of Cutting-Edge Fuel Cell Technologies
FEBRUARY 23, 2024
https://www.energy.gov/eere/fuelcells/articles/does-linnovator-pioneers-new-model-jumpstarting-commercialization-cutting
Agree don’t know it should be trading higher IMO
They always seem to have good news... I don't understand why it's trading this level for so long... can anyone explain?
Advent Technologies Receives Formal Invitation from Greek State for €24 Million Grant for the Green HiPo IPCEI Project
Source: Business Wire
Advent Technologies, an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that its wholly owned subsidiary, Advanced Energy Technologies S.A., has received the formal invitation from the Greek Ministry of Economy and Finance to immediately submit the requested documentation for its Green HiPo Important Project of Common European Interest (“IPCEI”) project.
After Advent submits the requested documentation, the Greek Ministry of Economy and Finance is expected to proceed with the disbursement of a €24 million state aid package from Greece’s Just Transition Fund (JTF) for the implementation of the Green HiPo project. Expenses related to the project are eligible for reimbursement retroactive to June 15, 2022, the date of notification to the European Union’s Directorate-General for Competition of Greece’s participation in the IPCEI Hy2Tech program. Advent will also look to secure additional funding to round out the full €60 million which was authorized under the IPCEI’s project budget.
Advent was one of only eight small and medium-sized entities (“SMEs”) to have received ratification within Europe under the “IPCEI Hy2Tech” program. The project's direct participants will cooperate closely through numerous planned collaborations with more than 300 external partners, such as universities, research organizations and SMEs across Europe.
The Green HiPo project involves the development, design, and manufacture of state-of-the-art HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will be instrumental in the region's transition to a greener economic model. A new state-of-the-art facility in Kozani, Greece will be home to fuel cell and electrolyser production. It will contribute to the economic development of the region and help Europe achieve its current target of 10 million tons of renewable hydrogen production by 2030.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, commented: "The long anticipated invitation or “call” for the Green HiPo project from the Greek State has finally arrived. Green HiPo, alongside other initiatives slated for implementation in Western Macedonia, represents a very real opportunity for the region to transition from a coal-dependent economy to a more environmentally friendly economic model. We are excited to continue working with our partners across Europe to move forward towards energy security and independence, with hydrogen technologies playing a crucial role."
About Advent Technologies Holdings, Inc
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240226969643/en/
Advent Technologies Holdings, Inc.
Michael Trontzos
press@advent.energy
$ADN 07:00 on Feb. 26 2024
— NuntioBot (@NuntioBot) February 26, 2024
Advent Technologies Receives Formal Invitation from Greek State for €24 Million Grant for the Green HiPo IPCEI Project
Four major investments remain on paper
Where is the licensing and implementation of "new generation" projects "stuck"?
Dimitris Delevegos
20.02.2024
https://www.kathimerini.gr/economy/562888999/paramenoyn-sta-chartia-tesseris-megales-ependyseis/
They were announced several years ago, while the legislative framework was changed in order to accelerate their implementation. However, the "new generation" strategic investments, which aspire to diversify, to a certain extent, the productive model of the Greek economy, if they do not remain a model, are at an embryonic stage. Despite the digitization of many state processes, the regime surrounding greenfield projects, for which, that is, there is no pre-existing construction, refers to the labyrinth of the Minotaur.
It is indicative that an investment consortium of a major project, which is being launched in a purely industrial area, had to provide a certificate, examined by a competent committee, that the activity it will develop, although not manufacturing, will not cause an impact on land of high productivity, i.e. agricultural. This certificate is only one of the supporting documents required by the investment file in order to be authorized. With bureaucracy and the co-responsibility of many different bodies and bodies continuing to give... With the resounding "present" and the cost of money having risen, it is no wonder why large greenfield projects show almost non-existent progress.
Data centers
Since October 2020, when it was announced that Microsoft will build a data center cluster in Attica, with a total benefit to the economy of €1 billion. Slightly more than three years have passed. Just in recent months, the first phase of the investment managed to find itself just before the starting line. What happened? In 2021, the change of the legislative framework for the strategic investments in which data centers were included, as well as the finding and acquisition of the necessary land by Microsoft in Spata, where one of the three facilities will be built, and Koropi.
In April 2022, Microsoft's three data centers were included in the strategic investment scheme, while in 2023 the company secured the building permit for the data center to be built in the industrial park of Spata (location Petra Gialos – Voulia – Prokalisi), on land acquired by the technology company from Lamda Development. Shortly before the expiration of 2023, Microsoft began conducting a tender, which is in the final stage, for the selection of the contractor that will implement one of the three data centers in the business center of Spata. In view of the publication in the Government Gazette of the Presidential Decree on the location of the project, the start of construction works is placed in the near future.
The creation of a cloud region in Attica, i.e. three data centers on which Google's digital cloud services will be based, was announced by the American technology company in September 2022. The estimated time horizon for the start of operation of the company's facilities was set at 2024.
Film studios
Investments in film studios can be characterized as strategic by taking incentives for accelerated licensing, based on the law of the Ministry of Development that was passed in 2021. To date, however, although Greece is a pole of attraction for international film productions, the construction of studios has not begun. The largest investment project of this kind is in the order of EUR 50 million. It includes the construction of a film production studio in "Platania" of Thermi, Thessaloniki and post-production of films, videos and television programs in Hellinikon by the company (affiliated with Nu Boyana Hellenic) "Vasilika Thermis".
According to the master plan of the project, the production studio in Thermi has a total area of 11,184 sq.m., will have outdoor shooting areas of 12,376 sq.m., production offices of 8,040 sq.m. and other supporting facilities of 4,000 sq.m. The second post production facility, with a total area of 3,511 sq.m., will include appropriately designed and equipped rooms for sound engineering, sound mixing, audio and video processing, and will be located in privately owned land of the company "Vasilika Thermi" in the area of Elliniko. The project was originally announced in 2019 as part of the 60th Thessaloniki Festival, but still remains in the planning phase.
Business parks
Slow progress is also being made in the creation of organized business parks that have the appropriate infrastructure to host manufacturing enterprises and industries. The lack of such facilities is one of the pathologies of Greek entrepreneurship because the sites, also known as manufacturing hosts, have developed unregulated, off-plan and without infrastructure, causing significant environmental and urban impacts. Nevertheless, the start of implementation of these co-financed projects by the Recovery Fund is significantly delayed at least one year, while they should be completed by the end of 2025. The cause?
For example, in the case of an industrial park to be cleaned up, it took the relevant authorities more than six months to send their comments on the project file. After the investor made the necessary adjustments, based on the observations, it took another seven months for the relevant services to officially announce that the project file is complete. As a result, this investment has been delayed for about a year, without yet securing final licensing.
According to older data from SEV's Business Environment Observatory, only 13% of manufacturing enterprises operate in business parks. In Attica, which represents 40%-45% of the country's total manufacturing production, there are only three integrated areas of organized receptors with a total area of 1,780 acres, i.e. only 2.86% of the total area of organized receptors.
Hydrogen unit
Green HIPo, as is the name of Advent Technologies' project, which has as its object the construction of an innovative electrolyser and fuel cell production unit in Western Macedonia, claimed, for the first time, European funding in September 2021, having an initial budget of € 782 million. euro. Ultimately, the company, which develops hydrogen technology, will receive a grant from Greece's Just Transition Fund corresponding to 24% of its total (revised) budget of €60 million. euro. The project foresees the construction, over a seven-year period, of high-temperature fuel cells, with a total electricity output of 400 MW and corresponding thermal capacity, as well as electrolysis units with a total capacity of 4.65 GW, in the company's production lines to be installed in Western Macedonia.
However, due to bureaucratic – financial issues, the start of its implementation remains at ground zero, while the initial timetable foresaw that it would start to be implemented in the first half of 2023. It remains to be seen whether there will be movement within the month. Hydrogen is the fuel of the future, according to experts. It does not emit carbon dioxide and can serve the goal of decarbonisation because – unlike renewables – it does not depend on wind potential intensity and sunshine.
The numbers
€1 billion At least the economic footprint on the Greek economy is expected to be from the development of Microsoft's three-center data center complex.
€50 million € the amount of investment for the construction of production and processing studios (post-production) in Thessaloniki and Elliniko.
13% of manufacturing enterprises operate in business parks, whose implementation rate lags behind the original schedule.
Netherlands: fuel cell manufacturer Nedstack from Arnhem declared bankrupt
PUBLISHED ONFEBRUARY 8, 2024
https://www.waterstofmagazine.nl/11-nieuws/2572-nederland-brandstofcelfabrikant-nedstack-uit-arnhem-failliet-verklaard
Advent will present this morning at 10 am ET at the Mission Hydrogen webinar (free).
Advent will showcase a portable power solution designed to replace diesel generators in sectors like Construction, EV Charging, Microgrid Support, Events, and Buildings (SereneP).
Title: “Clean Power for Construction and EV Charging???????”
Speakers: Dr. Chris Kaskavelis, Chief Strategy Officer, Advent Technologies Holdings, Inc.; Morten Hougaard Sørensen, Senior Vice President, Advent Technologies Holding A/S
Date: February 7, 10 am (New York)
Registration: mission-hydrogen.com/
Price: Free
2026 is a key year for "green" aircraft with Greek technology from Advent-Airbus
The aim of the project is to support Airbus in powering its aircraft entirely with fuel cells
29/01/2024
https://www.newsbeast.gr/financial/arthro/10475353/to-2026-etos-kleidi-gia-ta-prasina-aeroskafi-me-elliniki-technologia-apo-advent-airbus
The €13 million project is expected to be completed within the next two years. Greek company Advent Technologies and French aerospace giant Airbus are jointly launching as part of the latter's goal to market the first hydrogen-fuelled passenger aircraft by 2035. The first test flights of Airbus' green aircraft, in which Greek technology will be integrated, are expected to take place in 2026.
The agreement between the two companies was officially announced a few days ago, with the filing of an 8-K filing with the US Securities and Exchange Commission (Advent Technologies Holdings, Inc is listed on the Nasdaq index).
The Advent-Airbus collaboration concerns the optimization of the Greek company's Ion Pair™ ("MEA") membrane electrode assembly for hydrogen fuel cells. Airbus will bring its extensive knowledge and know-how into the aviation industry to the project, while Advent will participate with human talent, materials, hardware and third-party research centers.
The aim is to accelerate the development of Advent's aforementioned electrode layout and compare it with aviation requirements and current/expected technological limits. The primary objective of the project is to support Airbus in achieving its goal of powering its aircraft entirely with fuel cells.
Why is UAV so important? MEAs play a key role in determining the performance of a fuel cell, influencing critical factors such as service life, performance, weight and cost. Advent's layout has shown an even longer lifespan while operating at higher current densities compared to current MEAs, promising a significant reduction in powertrain weight and volume through streamlined balance of installation and cooling subsystems.
It is reminded that in 2024 Advent's investment plan – in cooperation with Germany's BASF – for the creation of a plant in the area of Kozani, where new types of HT-PEM hydrogen cells will be produced, is expected to begin to be implemented. Founded in 2006, Advent is now a subsidiary of Advent Technologies Holdings, Inc., headquartered in Boston, Massachusetts.
The ceo will have to admit to his self that he's got to dillute. He pays him self enough to shrug it off and still make multiples in the end. It's just a game and this company just doesnt exist in a world with a significant hydrogen economy. If we see that change it doesn't have a big portion of the market share. New patents outside of these guys can come along and steal the show as well. I'm still rooting for them and better trading here in the future. I've lost a big stack owning this up at 3,2,1... so I'm not going to go to bed at night playing big in this one yet.
Were also coming into a time where international waters are less safe to travel, I dont think a large scale transition into hydrogen is going to happen unless we are talking replacing all the boats after ww3. Isnt greece broke isnt the EU bracing for possible war?
Extreme headwinds here have the price depressed. They could drop news and pop this 300% volume will be low and it wont hold. They'll announce a reverse split or offering shortly after. I wouldnt be surprised to see .09 Sure .45 is possible from here.. but in the end ive seen ceo's reverse split themselves down tiny percentages of their initial holdings. After all they didnt pay for them.. we did.
JEDB, does that mean you don't own any shares?
I wanted .11. Anything under .25 I thought was good but been expecting a reverse split and/or offering so the downside is pretty signicant..
JEDB, I've been averaging down, I currently have 25,000 shares at an average cost of $0.34. What about you?
Form 8-K
January 19, 2024
https://d18rn0p25nwr6d.cloudfront.net/CIK-0001744494/4bdb21b4-5827-47c9-b678-973f214ad639.pdf
Item 8.01 Other Events.
On January 19, 2024, Advent Technologies, Inc. (“Advent”), a wholly owned subsidiary of Advent Technologies Holdings, Inc., a Delaware corporation (the “Company”), entered into an agreement (the “Agreement”) for a joint benchmarking project (the “Project”) with Airbus SAS (“Airbus”), a global leader in aeronautics, space, and related services, regarding an optimized Ion Pair™ Membrane Electrode Assembly (“MEA”) for hydrogen fuel cells. The goal of the Project is to accelerate the development of Advent’s MEA and benchmark the Ion Pair MEA against aviation requirements and current/expected technological limits. Airbus has agreed to provide a portion of the financial contribution to the Project and share its extensive knowledge of the aviation industry, and Advent has agreed to invest in people, materials, hardware, and third-party research centers, to contribute to the goals of the Project. The combined value of Advent and Airbus’ investment pursuant to the Agreement is $13 million. The Project will take place over the next two years and will commence concurrently upon the execution of the Agreement
who is here holding shares bought at $2 and $3? or God forbid higher?
From lignite to hydrogen, Western Macedonia
Courage, January 17, 2024
https://tharos.gr/dytiki-makedonia/apo-ton-ligniti-sto-ydrogono-i-dytiki-makedonia/
Advent Technologies: Plant for green hydrogen in Kozani
Western Macedonia is gradually moving from lignite to hydrogen with the implementation of the investment of the Greek company Advent Technologies in cooperation with the German BASF, for the production of a new type of fuel cell HT-PEM, which will "give" electricity and green hydrogen, in an area in the area of Kozani to enter the final straight within 2024.
Relevant announcements, which will outline the details of an ambitious development project that changes the balance in an area "wounded" by lignite phase-out, are coming in February, according to OT information.
- Greece can become a hydrogen hub and a center for the production of synthetic fuels
- Western Macedonia: From lignite to hydrogen, with the Green HiPo of Advent Technologies as a "vehicle"
European Hydrogen Bank: Green hydrogen pilot auction launches
BASF has been a leader in membrane and MEA technology for high temperature proton exchange membrane (HT-PEM) fuel cells for 20 years, while Advent is the largest manufacturer of HT-PEM fuel cell systems. Their collaboration aims to develop new catalysts and fuel membranes.
The Green HiPo
Advent Technologies' Green HiPo project is one step away from going on the rails. The initial budget of the project reaches 60 million euros, while 40% of this amount, ie 24 million euros, is expected to be funded by the NSRF DAM Program 2021-2027.
The investment with an EU seal, since everything seems to have overcome some bureaucratic entanglements that had occurred, may exceed EUR 700 million in six years' time. "opening" about 650 direct jobs and multiple indirect jobs in the region.
In July 2022, the European Commission approved the "Green HiPo" project submitted by Advent Technologies under the Project of Common European Interest ("IPCEI"), with €780 million in aid. € public expenditure, to support research, innovation and first industrial development in the hydrogen value chain.
The "green" Greek bet
Green HiPo aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units to generate electricity and green hydrogen, respectively. Through Green HiPo, Advent wants to turn Greece into an example of how a small country can be a producer and not just a consumer of knowledge and innovation.
It is worth noting that the promising hydrogen, although still in its embryonic stage, is estimated to cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The electrolysis plants produced through the project will be exported to Europe, contributing to the EU's target of producing 10 million tonnes of renewable hydrogen by 2030 and globally.
At the same time, the membranes and fuel cells expected to be produced through the project aim to play a leading role in the electrification of the aircraft, ships and trucks of the future.
Advent already maintains strategic partnerships with giant companies such as Airbus, Hyundai Motor Company and Siemens Energy.
Advent has specialized in high-performance fuel cell technology. Fuel cells use hydrogen, natural gas or other forms of clean liquid fuels to produce 'clean' energy.
This technology has multiple uses in automotive, aeronautics and off-grid power generation.
Hydrogen is a versatile energy carrier that can be produced from various renewable sources, such as wind and solar energy. Advent is developing advanced hydrogen production and storage solutions to enable widespread adoption of hydrogen as a clean energy source. These technologies have the potential to revolutionize industries such as transportation, industrial processes and power generation.
At the core of Advent's plans are the new type of HT-PEM fuel cells that the company prefers for aviation, heavy trucks, automotive and marine use.
In 2023, Advent has launched new partnerships, building on existing partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
"Flying" with Airbus
The company last year reached an agreement with Airbus, a global leader in aeronautics, for a joint benchmarking project on an optimized Ion Pair (MEA) electrode system for hydrogen fuel cells it develops.
Airbus will provide financial support to the project and extensive knowledge of the aviation industry. Advent will invest in people, materials, material and external research centers to contribute to the project's objectives. The multimillion-dollar partnership will take place over two years. The aim of the project is to accelerate the development of Advent's technology and compare the Ion Pair MEA with aviation requirements and current and anticipated technological limits in upcoming hydrogen cell aircraft engines.
Hydrogen has been produced and used for over a century, mainly for the production of fertilizers and plastics and for the refining of oil. It has been produced mostly using fossil fuels, especially natural gas. But when production is powered by renewable energy sources, the resulting hydrogen is green hydrogen.
The global green hydrogen market is expected to reach €410 billion. dollars by 2030, according to analysts, which would more than double the current market size. However, its doubters say the fuel is not always sustainable and that how green it is is determined by the energy source used to produce it.
The uses of green hydrogen
Green hydrogen can have a variety of uses in industries such as steelmaking, concrete production, and chemical and fertilizer production. It can also be used to generate electricity, as fuel for transport and for heating homes and offices.
Today, hydrogen is mainly used in gasoline refining and fertilizer production. Green hydrogen is produced by the method of electrolysis of water from electricity coming from RES. Solar energy or wind power is usually used.
Green hydrogen has low to zero CO2 emissions. It can be used either for electricity through fuel cells, or in gaseous form for use in transport. Compared to other forms of hydrogen production, it is more expensive at present but certainly the most environmentally friendly.
Advent Technologies: Green hydrogen plant in Kozani – Announcements in February
The benefits of the €700 million investment and the country's crucial bet
January 16, 2024
https://www.ot.gr/2024/01/16/green/advent-technologies-ergostasio-gia-prasino-ydrogono-stin-kozani-anakoinoseis-ton-fevrouario/
Western Macedonia is gradually moving from lignite to hydrogen with the implementation of the investment of the Greek company Advent Technologies in cooperation with the German BASF, for the production of a new type of HT-PEM fuel cells, which will "give" electricity and green hydrogen, in an area in the area of Kozani to enter the final straight within 2024.
Relevant announcements, which will outline the details of an ambitious development project that changes the balance in an area "wounded" by lignite phase-out, are coming in February, according to OT information.
European Hydrogen Bank: Green hydrogen pilot auction launches
BASF has been a leader in membrane and MEA technology for high temperature proton exchange membrane (HT-PEM) fuel cells for 20 years, while Advent is the largest manufacturer of HT-PEM fuel cell systems. Their collaboration aims to develop new catalysts and fuel membranes.
The Green HiPo
Advent Technologies' Green HiPo project is one step away from going on the rails. The initial budget of the project reaches 60 million euros, while 40% of this amount, ie 24 million euros, is expected to be funded by the NSRF DAM Program 2021-2027.
The investment with an EU seal, since everything seems to have overcome some bureaucratic entanglements that had occurred, may exceed EUR 700 million in six years' time. "opening" about 650 direct jobs and multiple indirect jobs in the region.
In July 2022, the European Commission approved the "Green HiPo" project submitted by Advent Technologies under the Project of Common European Interest ("IPCEI"), with €780 million in aid. € public expenditure, to support research, innovation and first industrial development in the hydrogen value chain.
The "green" Greek bet
Green HiPo aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units to generate electricity and green hydrogen, respectively. Through Green HiPo, Advent wants to turn Greece into an example of how a small country can be a producer and not just a consumer of knowledge and innovation.
It is worth noting that the promising hydrogen, although still in its infancy, is estimated to cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The electrolysis plants produced through the project will be exported to Europe, contributing to the EU's target of producing 10 million tonnes of renewable hydrogen by 2030 and globally.
At the same time, the membranes and fuel cells expected to be produced through the project aim to play a leading role in the electrification of the aircraft, ships and trucks of the future.
Advent already maintains strategic partnerships with giant companies such as Airbus, Hyundai Motor Company and Siemens Energy.
Advent has specialized in high-performance fuel cell technology. Fuel cells use hydrogen, natural gas or other forms of clean liquid fuels to produce 'clean' energy.
This technology has multiple uses in automotive, aeronautics and off-grid power generation.
Hydrogen is a versatile energy carrier that can be produced from various renewable sources, such as wind and solar energy. Advent is developing advanced hydrogen production and storage solutions to enable widespread adoption of hydrogen as a clean energy source. These technologies have the potential to revolutionize industries such as transportation, industrial processes and power generation.
At the core of Advent's plans are the new type of HT-PEM fuel cells that the company prefers for aviation, heavy trucks, automotive and marine use.
In 2023, Advent has launched new partnerships, building on existing partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
"Flying" with Airbus
The company last year reached an agreement with Airbus, a global leader in aeronautics, for a joint benchmarking project on an optimized Ion Pair (MEA) electrode system for hydrogen fuel cells it develops.
Airbus will provide financial support to the project and extensive knowledge of the aviation industry. Advent will invest in people, materials, material and external research centers to contribute to the project's objectives. The multimillion-dollar partnership will take place over two years. The aim of the project is to accelerate the development of Advent's technology and compare the Ion Pair MEA with aviation requirements and current and anticipated technological limits in upcoming hydrogen cell aircraft engines.
Hydrogen has been produced and used for over a century, mainly for the production of fertilizers and plastics and for the refining of oil. It has been produced mostly using fossil fuels, especially natural gas. But when production is powered by renewable energy sources, the resulting hydrogen is green hydrogen.
The global green hydrogen market is expected to reach €410 billion. dollars by 2030, according to analysts, which would more than double the current market size. However, its doubters say the fuel is not always sustainable and that how green it is is determined by the energy source used to produce it.
The uses of green hydrogen
Green hydrogen can have a variety of uses in industries such as steelmaking, concrete production, and chemical and fertilizer production. It can also be used to generate electricity, as fuel for transport and for heating homes and offices.
Today, hydrogen is mainly used in gasoline refining and fertilizer production. Green hydrogen is produced by the method of electrolysis of water from electricity coming from RES. Solar energy or wind power is usually used.
Green hydrogen has low to zero CO2 emissions. It can be used either for electricity through fuel cells, or in gaseous form for use in transport. Compared to other forms of hydrogen production, it is more expensive at present but certainly the most environmentally friendly.
Advent Technologies Announces Appointment of Naiem Hussain as Chief Financial Officer
January 11, 2024
https://ir.advent.energy/news/news-details/2024/Advent-Technologies-Announces-Appointment-of-Naiem-Hussain-as-Chief-Financial-Officer/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, announced today the appointment of Naiem Hussain as its new Chief Financial Officer pending the completion of the company’s hiring protocols. Formerly serving as Advent’s Chief Investment Officer, Mr. Hussain brings extensive expertise in corporate finance, with a focus on IPOs, fundraisings, and mergers and acquisitions within the energy technology and fuel cell industries. Mr. Hussain is replacing Kevin Brackman, who resigned from his position on January 5, 2024.
Mr. Hussain’s professional journey commenced at ICI plc, where he played a pivotal role in investor relations and corporate planning. He was also involved in the demerger of ICI plc which created Zeneca (now AstraZeneca). Mr. Hussain continued to excel in corporate finance at the investment bank Close Brothers, with a specialization in the energy technology sector. Additionally, he assumed the role of Head of Asset Management and Investment for Imperial Innovations, where he oversaw a substantial portfolio of spin-out companies, focusing particularly on those in fuel cell technologies.
Naiem Hussain brings a wealth of expertise to the fuel cell industry, having served as an appointee Director for Ceres Power plc, and additionally played a pivotal role in fundraisings for Ceramic Fuel Cells plc and significantly contributed to the establishment of the fuel cell joint venture between Johnson Matthey and Anglo Platinum. Furthermore, he led the initial fundraisings for Intelligent Energy plc. A distinguished graduate of Oxford University, Mr. Hussain also holds a degree in Computational Chemistry and is a Fellow Chartered Accountant.
In response to his appointment, Mr. Hussain stated, "I am thrilled to take on the role of CFO at Advent during this crucial phase for the Company. Advent’s innovative fuel cell technology holds immense potential to become a crucial element in various hard-to-abate industries on their path to decarbonization. In the upcoming years, Advent is set to experience substantial growth through initiatives such as the Green HiPo IPCEI project, and I am eager to contribute my long experience in the fuel cell industry to the ongoing success and expansion of the Company."
Dr. Vasilis Gregoriou, Advent’s Chairman and CEO, remarked, "We are delighted to welcome Naiem as our new CFO. His wealth of experience and strategic acumen will undoubtedly enhance our financial capabilities. We eagerly anticipate achieving new milestones together, further solidifying Advent's position as a global leader in the fuel cell and hydrogen technology industry."
About Advent Technologies Holdings, Inc
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Form 8-K
January 11, 2024
https://ih.advfn.com/stock-market/NASDAQ/advent-technologies-ADN/stock-news/93023156/form-8-k-current-report
Chief Financial Officer Resignation
On January 05, 2024, Kevin L. Brackman, Chief Financial Officer of Advent Technologies Holdings, Inc., a Delaware corporation (the “Company” or “Advent”), resigned from all of his positions at the Company and its subsidiaries, effective immediately.
Chief Financial Officer Appointment
In connection with Mr. Brackman’s resignation, the Board of Directors of the Company (the “Board”) on January 10, 2024, appointed Naiem Hussain, 56, the Company’s current Chief Investment Officer, to serve as Chief Financial Officer of the Company, pending the completion of the Company’s hiring protocols. Mr. Hussein has served as Advent’s Chief Investment Officer since 2021.
The Company entered into an offer letter with Mr. Hussain pursuant to which Mr. Hussain will receive an annual base salary of $275,000 and the opportunity to earn a performance-based bonus each year. Mr. Hussain will also be eligible to participate in the Company’s equity awards plan, with his grants approved by the compensation committee of the Board.
Any further information required under Item 5.02(c) will be disclosed in a supplemental or amended filing on Form 8-K, as needed.
Is this company toast yet? Looks like management ran this into the ground and bankruptcy or R/S in the future.
Eight actions EUR 217 million euro in the regions of Western Macedonia and Arcadia under lignite phase-out
21:25pm, Wednesday 10/01/2024 | Grevena, Kastoria, Kozani, Florina
Link
The resources of the Just Development Transition Programme, which have been specified since the beginning of the implementation of the programme, amount to approximately EUR 800 million. euro
The new specification issues for the financing of actions with a budget of ECU 217 million will be financed by the Commission. The euro were discussed during the second meeting of the Monitoring Committee that took place recently in Ptolemaida on the implementation of the Just Development Transition Programme (JDP) with the participation of the members of the Special Service for Just Development Transition (EYDAM) and representatives of the European Commission.
Essentially, they concern the following actions in the areas under lignite phase-out:
1. Special Business Subsidy Program for the employment of unemployed, former employees of businesses affected by lignite phase-out in Western Macedonia and Megalopoli (73 million euros)
2. Just Development Transition Holding Fund to support both small and medium-sized enterprises and large enterprises (€70 million)
3. Innovation zone in Western Macedonia (€8 million),
4. Rehabilitation and regeneration works at Vegora mine (EUR 4 million)
5. Workforce empowerment interventions (€18 million),
6. Individualised intervention programme for unemployed young people (EUR 34 million),
7. Upgrading and expansion of social and welfare services in the Region of Western Macedonia (€8 million)
8. Operation of EFEPAE (Intermediate Body of the Operational Programme "Competitiveness and Entrepreneurship") to support the Special Service for Just Development Transition in actions related to state aid (€ 2 million). euro).
Including these specification documents, the resources of the Just Development Transition Programme which, since the beginning of the programme's implementation, amount to approximately EUR 800 million. (out of a total of around €1.63 billion).
Financial instruments
According to an assessment by the Green Tank, which is a member of the Monitoring Committee, the formulation of a financial instrument amounting to EUR 70 million will be a major step forward. The euro to support small and medium-sized enterprises is in a positive direction. "The possibility of developing financial tools within the framework of the Program, as highlighted by the establishment of a Just Transition Holding Fund, can be exploited in other sectors as well" and in particular, according to the Green Tank, for the formation of a special youth fund to support youth business plans in these regions.
More generally, regarding the implementation of the Just Development Transition Program in its first year of operation, the Green Tank singles out the first funding program for self-production projects with storage by energy communities in Greece, which concerns municipalities and related bodies in transition areas, amounting to €41.8 million. euro. However, it considers it necessary to finance corresponding projects of citizens and small and medium-sized enterprises given that needs are increased, especially in Western Macedonia.
Self-production with storage
Also particularly noteworthy is the €12 million funding program for heat pumps and self-production systems with storage in Western Macedonia. Although the available resources are disproportionately few in relation to the needs for such systems in Western Macedonia.
On the action for young people amounting to EUR 8.34 million. 600 young people will benefit (432 in Western Macedonia and 168 in the Peloponnese).
However, according to GreenTank, young people who are not employed, educated or educated are estimated at around 12,000 in Western Macedonia alone. Indeed, according to Eurostat data analyzed by the Green Tank, Western Macedonia is well above the average of the 96 EU-27 coal regions in terms of the number of this group of young people.
www.worldenergynews.gr
Advent Technologies Secures Funding from Danish Energy Technology Development and Demonstration Program for Innovative R&D Project
January 8, 2024
https://ir.advent.energy/news/news-details/2024/Advent-Technologies-Secures-Funding-from-Danish-Energy-Technology-Development-and-Demonstration-Program-for-Innovative-RD-Project/default.aspx
BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, is delighted to announce that its subsidiary, Advent Technologies, A/S, has secured funding approval for its latest research and development project from the Danish Energy Technology Development and Demonstration Program (“EUDP”).
The project, titled 'Modular Efficient Power Generation with Advanced Fuel Cell Power Converters', has secured total funding of approximately $1.83 million and is scheduled to kick off in the second quarter of 2024, spanning a three-year duration. Funded by EUDP—a Danish organization committed to supporting private companies and universities in developing and demonstrating innovative energy technologies, in compliance with EU state aid rules—the project will be overseen by a consortium that will also include Aalborg University – Department of Energy, TKT Electronics ApS and DanTrafo A/S.
This initiative will pioneer the development of a cutting-edge modular, scalable, and high-density DC-DC power converter, specifically tailored for Advent's next-generation High-Temperature Proton Exchange Membrane (“HT-PEM”) fuel cell applications. Advent's next-generation HT-PEM fuel cell applications are built on the groundbreaking Ion-Pair™ Membrane Electrode Assembly (“MEA”) technology. This technology is currently commercialized by Advent, made available through the Company’s participation in the U.S. Department of Energy’s L’Innovator™ program, and developed in collaboration with top-tier U.S. research institutions, such as Los Alamos National Laboratory, Brookhaven National Laboratory, and, the National Renewable Energy Laboratory.
Advent’s Ion-Pair™ MEA technology aims to revolutionize the global fuel cell market by extending the expected lifetime of fuel cells to at least three times longer and delivering double the power density of Advent's earlier fuel cell systems. This makes them ideal for heavy-duty mobility applications. Manufacturing of these fuel cell systems will take place in Kozani, Greece, as part of the EU-approved Green HiPo IPCEI Project. Green HiPo encompasses the development, design, and manufacture of HT-PEM fuel cell systems and electrolyzer systems for the production of power and hydrogen, respectively. Green HiPo will significantly contribute to the region of Western Macedonia’s transition from a coal-based economy to a greener economic model, with a new state-of-the-art facility in Kozani serving as the production hub for fuel cells and electrolysers.
Morten Sørensen, Senior Vice President of Advent Technologies A/S, commented: “Today marks a significant stride forward in propelling our innovative fuel cell technology, which we believe stands as the future of clean energy, presenting substantial potential for decarbonizing hard-to-abate sectors that were previously resistant to change with available technologies. We express our gratitude to EUDP for placing their trust in our vision and eagerly look forward to embarking on a collaborative journey with our esteemed project partners. Collectively, we strive for the successful completion of this project, taking us a step closer to a future where HT-PEM fuel cell technology sets the standard in fuel cell usage.”
About Advent Technologies Holdings, Inc
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Greece unveils new Portfolio Fund to support SMEs and startups
Thursday, 04-Jan-2024
https://www.capital.gr/english/3759103/greece-unveils-new-portfolio-fund-to-support-smes-and-startups/
National Economy and Finance Alternate Minister Nikos Papathanasis and the chairman and CEO of Hellenic Development Bank George Zavvos on Thursday signed a funding agreement for the creation of a new Portfolio Fund "TEPIX III" to support the development of small- and medium-sized enterprises and startups.
The initial budget of the Fund will be 500 million euros, which it is expected to rise up to 2.1 billion euros with leverage from the banking system. The Fund's goal is to create funding tools for the support and development of SMEs, medium-cap enterprises and startups and to facilitate access to funding sources. "TEPIX III" is included in the "Competition" Program of the National Plan for Regional Development 2023-2027 and it is co-funded by the European Fund for Regional Development.
Big deal for Greece – In which area will the new fuel cell plant be built?
CAR & MOTOR TEAM
02 JAN 2024
https://www.carandmotor.gr/nea/megalo-deal-ellada-ergostasio-kypselon-kaysimoy
The time for the implementation of the "green" hydrogen production plant in an area of our country is now counting down.
To one of the protagonists in his technology "green" hydrogen Our country will evolve, once the production unit of a new type of fuel cell HT-PEM is implemented on a plot of land in Kozani.
The project – under the name "Green HiPo" – will be carried out in the framework of a bilateral partnership between US-based Advent Technologies and Germany's BASF, with the relevant agreement to be signed in last summer.
In particular, the modern industrial plant to be built in Western Macedonia aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units for the production of electricity and green hydrogen, respectively.
Advent believes that the new type of HT-PEM fuel cells are a superior choice for aviation, heavy trucking, automotive and marine use. Green HiPo has a six-year implementation axis and is expected to create 650 jobs.
"This partnership will enable the combination of Advent's expertise in fuel cell systems with BASF's expertise in catalyst and membrane development, creating a strong synergy that will lead to new innovative solutions in the fuel cell industry," said Dr. Vasilis Gregoriou, President and CEO of Advent Technologies.
Green HiPo is an Important Project of Common European Interest (IPCEI), which, according to recent statements by Mr. Gregoriou, faced delays in 2023, but is now in the final stretch to begin to take shape.
We must not forget that the Ministry of Infrastructure and Transport, in addition to electromobility, focuses on the use of hydrogen as a transport fuel, as it is available and environmentally friendly, while it is estimated that it can cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.
The Ministry of Infrastructure and Transport has the decisive responsibility for the licensing and operation of fuel stations, which are necessary in order to advance hydrogen power in our country.
Regarding Advent, in 2023 it launched new – and forged existing ones – partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.
European Commission: Paid Greece the 3rd tranche of the TAA, amounting to €3.64 billion.
From Newsroom, 28 Dec 2023
https://www.powergame.gr/ikonomia/572958/komision-pliromi-364-dis-stin-ellada-sto-plaisio-tou-rrf/
The Commission has today disbursed payments to Greece and five other Member States under the Recovery and Resilience Facility (RRF). The European Commission has made the third payment to Greece, amounting to €3.64 billion. (€1.69 billion in non-repayable financial support and €1.95 billion in loans, excluding pre-financing).
On 16 May 2023 and 22 November 2023, Greece submitted to the Commission the third payment request for non-repayable support and the third payment request for loans, respectively, covering 39 milestones and four targets. Greece's comprehensive recovery and resilience plan will be financed by €35.95 billion. with €18.22 billion in non-repayable support. EUR 17.73 billion and loans euro.
European Commission: Level of payments in Germany, Italy, Portugal, Slovakia, Slovenia
Germany received the first payment, amounting to ECU 4 million. euro. The Commission has also made Italy the fourth payment of EUR 16.5 billion. € of non-repayable financial support and loans (excluding pre-financing).
At the same time, the Commission disbursed to Portugal the third and fourth combined payments for €2.46 billion. € non-repayable financial support and loans (excluding pre-financing). The Commission has made Slovakia its third payment of €662 million. EUR 225.91 million in grants for non-repayable financial support (excluding pre-financing), while the second payment was made to Slovenia for EUR 225.91 million. €310.09 million of non-repayable financial support (excluding pre-financing) and €310.09 million euro of repayable support.
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