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"In the works" the mega investment in hydrogen technologies by Advent Technologies in Kozani
07/04/24
"I do not hide that the reason why Advent is located in Kozani is the presence of the University of Western Macedonia, the potential that exists here and in the wider region, but also in Northern Greece" emphasized the president & CEO of Advent Technologies , Dr. Vassilis Grigoriou during his speech at the Hydrogen Summer ScH2ool, which is organized by the company in collaboration with the Bioeconomy and Environment Cluster of Western Macedonia (CluBE) and the University of Western Macedonia, within the European project Green Skills for Hydrogen.
This is the company whose, in September 2022, the EU approved an investment plan of 780 million euros (Green HiPo), in the context of the development of hydrogen technologies , for the construction of a hydrogen cell production plant in Kozani. Based on its investment plan, 650 jobs are expected to be created by the time the investment is completed. Mr. Grigoriou stated that "after two years, the company was given the opportunity to submit its investment proposal to an invitation issued by the Ministry of Finance in order to receive a subsidy of 24 million euros from the Just Transition Fund", which it did in compliance with it says "all deadlines".
He also added that "the company has sent all the information requested" and that according to its business plans "there is room until July 2024 for a positive or negative response in order to decide its next moves." He even announced that if the result is negative "the company will bring the issue to Brussels since the specific program is transnational, interdisciplinary and intercompany".
"We could have made our investment in France and Germany, where the company has construction activities one way or another, but we preferred to settle in Kozani," said Mr. Grigoriou, adding that "Advent's competitors, who at the same time submitted corresponding investment proposals EU projects such as France's McPhy and Germany's Sunfire have already received funding from their countries of 250 million euros and 150 million euros respectively."
"On the field of competition, the speed of decisions must serve the levels of our international operation" said Mr. Grigoriou explaining at the same time that "scenarios like 5 years for the construction of the factory and ten years to see some first result mean disaster" since technology and customer needs will have changed dramatically. Addressing students and young scientists who follow the developments in hydrogen technologies, Mr. Grigoriou noted that "the European vision is completely connected to H2 which can provide it with energy security and independence".
As part of the event, the company's equipment was presented, such as fuel cells that burn methanol and water to produce electricity and which are currently used in yachts, in support and energy storage systems, to replace fossil fuel generators, while for the first time, individual aircraft equipment was presented fuel cells used by the US military offering enormous energy autonomy in remote parts of the front. As he explained, the specific systems evolved after 20 years of research and testing that started from the company's facilities on the university campus in Patras where its first research laboratory was set up.
Source: RES-MPE
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Perka: Production in the Green HIPo should be exclusively from RES and not from fossil fuels
12 04 2024
The Member of Parliament of Florina and Secretary of K.O. of the New Left, Petis Perkas, submitted a question to the Minister of Environment and Energy regarding the "Green HIPo" hydrogen project.
Peti Perka emphasizes that the hydrogen that will be produced should come exclusively from Renewable Energy Sources (green hydrogen) and the use of fossil fuels for its production will be excluded. The wording in the specification issue presented in the 6th Written Procedure of the Monitoring Committee of the Just Development Transition Program (JTPP) 2021-27 does not exclude the use of fossil fuels for the same purpose.
It is necessary to clarify on the one hand what will be the destination of the electricity produced by the hydrogen cells and on the other hand the compatibility of the design with the National Energy and Climate Plan (ESEK). For example, if he means that the electricity produced by the hydrogen cells will be used in electric cars, then there is a question of very low efficiency in the use of green hydrogen for electrification, which is not recommended.
The path of implementation of the PDAM, up to the present phase, is not consistent with the national strategy for the development of energy storage infrastructure as reflected in the ESEK, according to which there is a balance between three energy storage technologies (batteries, pumped storage and hydrogen). So far, two programs concerning hydrogen and none of the other storage technologies have been presented.
Taking into account the above, Peti Perka concludes with four questions to the competent Minister.
question by P. Perkas: "The Green HiPo project (hydrogen) is positive with reasonable questions that need to be answered"
Question
To the Minister of Environment and Energy
Topic: "Green HiPo (Hydrogen) Project Positive with Reasonable Questions Needing Answered"
In the 6th Written Procedure of the Monitoring Committee of the Just Development Transition Program (JTPP) 2021-27, the Green HiPo project was presented, which is part of a Project of Common European Interest in the field of hydrogen, which is initially positive. However, there are issues to be discussed and clarified as pointed out by the green tank [1] .
The hydrogen that will be produced should come exclusively from Renewable Energy Sources (green hydrogen) and the use of fossil fuels for its production will be excluded. The wording in the presented specification does not exclude the use of fossil fuels for the same purpose.
It is necessary to clarify on the one hand what will be the destination of the electricity produced by the hydrogen cells and on the other hand the compatibility of the design with the National Energy and Climate Plan (ESEK). For example, if he means that the electricity produced by the hydrogen cells will be used in electric cars, then there is a question of very low efficiency in the use of green hydrogen for electrification, which is not recommended.
There is no update on the location of the project and of course the Special Town Planning Plans (STP) of the Depolitization Zones (ZAP) have not been approved. In any case, the tendency to concentrate potential investments in the capital of the Region of Western Macedonia does not go hand in hand with the balanced development of the lignite regions of Kozani and Florina.
The path of implementation of the PDAM, up to the present phase, is not consistent with the national strategy for the development of energy storage infrastructure as reflected in the ESEK, according to which there is a balance between three energy storage technologies (batteries, pumped storage and hydrogen). So far, two programs concerning hydrogen and none of the other storage technologies have been presented.
Taking into account the above, the competent Minister is asked:
Will the hydrogen that will be produced come exclusively from Renewable Energy Sources (green hydrogen) or will it also be produced from the use of fossil fuels?
What will be the fate of the electricity produced by the hydrogen cells? Will it be used for example in electric cars?
Where will the project be located? Is the balanced development of the lignite areas ensured in a fair way?
Is the implementation path of the PDAM, up to the present phase, consistent with the national strategy for the development of energy storage infrastructure as reflected in the ESEK?
The questioning Member of Parliament
Theopisti (Peti) Perka
[1] https://thegreentank.gr/wp-content/uploads/2024/02/20240206_Comments_Green_Tank_6h_grapth_diadikasia.pdf
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Big investment in Greece - The new "green" hydrogen production plant is moving forward
CAR & MOTOR TEAM
01 Mar 2024
The big project to create a "green" hydrogen plant in our country is progressing, which can play a decisive role in the decarbonization of transport.
The major project of Advent Technologies for the construction of a "green" hydrogen production unit in Kozani is slowly taking the lead in implementation , which will contribute decisively to the transition of our country to a more sustainable economic model.
This is the "Green HiPo" project , which as we have written, includes the development, design and manufacture of HT-PEM fuel cells and state-of-the-art electrolytes for the production of electricity and "green" hydrogen, respectively.
The "green" hydrogen and fuel cells that will be produced can - among other things - support the road transport? of the future, working as an auxiliary to electric mobility (BEVs).
green hydrogen
He heads to the factory
The factory is on track for implementation, following the decision of the Ministry of National Economy and Finance to proceed with the disbursement of a package of state aid amounting to 24 million euros from the Just Transition Fund (TTM) of Greece for the implementation of the Green HiPo project, as it announced The company.
The costs related to the project are eligible for reimbursement retroactively from June 15, 2022, the date of notification to the Directorate General for Competition of the European Union of Greece's participation in the IPCEI Hy2Tech program.
Advent will also seek to secure additional funding to top up the total €60 million approved under the IPCEI project budget.
Advent was one of only 8 small and medium-sized companies to receive validation within Europe under the 'IPCEI Hy2Tech' programme. It is pointed out that the direct participants of the project will work closely with more than 300 external partners, such as universities, research organizations and small and medium-sized enterprises across Europe.
The "Green HiPo" project will contribute to the economic development of Western Macedonia and Greece , while helping Europe achieve its current target of producing 10 million tons of renewable hydrogen by 2030. Furthermore, 650 direct jobs will be created and multiple indirects.
green hydrogen
Use of "green" hydrogen
It is noted that green hydrogen, according to the Ministry of Infrastructure and Transport, can cover approximately 1/3 of the energy consumption of the transport sector in Greece, including shipping.
As for the HT-PEM (High-Temperature Proton Exchange Membrane) cells that Advent Technologies will produce, they operate at high temperatures reaching up to 240 degrees Celsius.
They are a promising energy device, with advantages of high energy efficiency, high fuel/air impurity tolerance, simple plate design, and better heat and water management.
Advent believes that the new type of HT-PEM fuel cells are a superior choice for the electrification of aviation, heavy trucks, and ships.
Fuel cells use hydrogen to produce "clean" energy , which is used to drive an electric motor.
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Yupp, that would have been about 30 million shares (equivalent) before R/S if you are keeping track
Rinse and repeat
46,137,881 to 48,122,330 01/09/2024
Before R/S New O/S 692,068,218 08/09/2023 another 2,054,496 increase
So, approx 46,137,881 O/S w/ reverse split
O/S 690,013,722 07/09/2023 An increase 44,318,385 shares from last year May 2022
O/S 645,695,337 04/08/22
O/S 636,196,275 3/11/22
O/S 631,787,717 11/12/21
O/S 630,787,717 10/08/21
O/S 603,421,207 09/10/21
O/S 599,195,991 08/13/21
O/S 576,067,632 07/16/21
O/S 569,976,046 06/04/21
Increase of 9,499,062 from March 2022
Increase of 4,408,558 from Jan 2022
Increase of 1,000,000 from Oct 2021
Increase of 27,366,510 from Sept 2021
Increase of 4,225,216 from Aug 2021
Increase of 23,128,359 from July 2021
Increase of 6,091,586 from June 2021
increase of 4,799,999 May 2021
increase of 13,706,680 from April 2021
A/S is 1.2 billion and the O/S as of 04/09/2021 is 555,976,046.
Is this company toast yet? Looks like management ran this into the ground and bankruptcy or R/S in the future.
"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.
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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
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
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.
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It doesn't specify unfortunately. I will never understand how screwed up Advent, EU, and Greece are
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.
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Companies found each other through market dialogue - now they are developing a new solution together
The company Advent Technologies entered into a close dialogue with the material rental company Loxam after a market dialogue in Aalborg about emission-free work machines. Now the companies are collaborating on a new solution that can be an alternative to diesel generators.
Picture: Morten Sørensen, CEO of Advent Technologies.
By Jan Aagaard | Published 12-10-2023
The companies Advent Technologies and Loxam in Aalborg already knew a little about each other when, in the spring of 2023, they both participated in a regional market dialogue in Aalborg about emission-free work machines.
However, the meeting in Aalborg was the starting point for a new collaboration, which can open up new business opportunities for both companies.
The regional market dialogue was part of CO-PI's scaling process 'Together on emission-free work machines' , which aims to develop the demand for fossil and emission-free work machines and ensure sustainable solutions for the future.
Interest in market dialogue
Advent Technologies are specialists in fuel cells, including mobile plants that run on methanol and can supply electricity to, for example, construction sites as an alternative to diesel generators.
Loxam is Europe's largest equipment rental company and increasingly rents out electric machines.
Both companies therefore had an interest in participating in the market dialogue in Aalborg.
For the market dialogue, public builders engaged in dialogue with private suppliers about what they can deliver in emission-free work machines and what is needed to move the market in a more sustainable direction.
"We didn't know much about the process in advance, but for us the market dialogue meant that we got access to decision makers in a market that we have been interested in, but which has proven difficult to penetrate," says Morten Sørensen, CEO of Advent Technologies, Denmark.
"It is not that easy for a company like ours to get decision-makers in e.g. municipalities to talk, because they get lots of inquiries from companies with good ideas. At the market dialogue, we 'entered the door' in a different way and met great interest for what we can offer," he adds.
TOGETHER ABOUT EMISSION-FREE WORKING MACHINES
- There is great potential for CO2 reductions from work machines on construction sites. In Copenhagen Municipality's own geography, the work machines on construction projects alone are estimated to be in the region of 75,000 tonnes of CO2 per year.
- Copenhagen Municipality, Metroselskabet and Aalborg Municipality took the initiative in the spring of 2022 to increase the demand for emission-free work machines through a new method: A scaling process.
Fuel cells powered by methanol
In addition to the dialogue with the developers, the event in Aalborg also led to closer contact and dialogue between Loxam and Advent Technologies about how Advent's solution with fuel cells powered by methanol can be used as an alternative to diesel-powered generators.
According to the company, power supply based on Advent Technologies fuel cells powered by methanol results in 85-87 percent less CO2 emissions than generators powered by ordinary diesel oil.
This is because the methanol comes from biogas, which is produced from waste products from, for example, agriculture and households. In addition, the fuel cell technology has a significantly lower noise level than diesel generators.
Put together with a battery pack, the fuel cells can, for example, supply power to charge an electric work machine or electric tools.
Green Concert is knocking
While Loxam and Advent continued the dialogue after the event, at one point Loxam received a request from Grøn Koncert to supply mobile power to operate a larger bar in the concert area during the Grøn Koncert event in Aalborg.
This led Loxam and Advent Technologies to join forces on a new technological solution, which combines a battery pack from Loxam and a mobile power generator from Advent Technologies based on fuel cells and methanol.
"We knew from other industries that our solutions would be up to the task, but had never tested the technology in connection with social events," says Morten Hougaard Sørensen.
"However, it turned out to be easy for Grøn Koncert to use the solution and already after the first concert the system became the primary supply for, among other things, the center bar at Grøn Koncert."
Image: Loxam and Advent Technologies' technological solution, which combines a battery pack from Loxam and a mobile power generator from Advent Technologies based on fuel cells and methanol. It came into play at Grøn Koncert in the summer of 2023. Photo: Advent
Image: Loxam and Advent Technologies' technological solution, which combines a battery pack from Loxam and a mobile power generator from Advent Technologies based on fuel cells and methanol. It came into play at Grøn Koncert in the summer of 2023. Photo: Advent
New, integrated solution on the way
The successful collaboration to supply mobile power for Grøn Koncert has now led Advent Technologies and Loxam to expand the collaboration.
Loxam will thus become a pilot customer for a new 45 kW plant from Advent, which integrates a battery pack and fuel cells.
"We expect to have the facility ready in mid-November, after which Loxam will be responsible for renting it out. It can be used in all sorts of places where you need a mobile power supply – for example to drive tools and supply power to scavengers during construction work or on construction sites," says Morten Hougaard Sørensen.
Solve the problem together – public innovation in collaboration with private companies
Advent Technologies is already seeing interest in the product, and Morten Hougaard Sørensen expects that in 2024 you will receive "a number of orders from customers who would like to try this out - perhaps 10-20 units in total".
He points out that the reference from Grøn Koncert will be decisive for the further process:
"We have had to establish that the market for generators is relatively conservative. This means that if we do not have anywhere where we can show that our solution works, it is difficult to have a dialogue with potential customers. This is crucial to have references, and Green Concert is a good case for us."
New contacts at the builder's workshop
After the market dialogue in Aalborg, Advent Technologies has also participated in a client workshop on emission-free work machines, which CO-PI was responsible for at the Climate People's Meeting in Middelfart on 1 September 2023.
Also at this event, the company gained new contacts who show interest in the solution with fuel cells, which can be used, for example, to charge electric work machines.
"We have been in dialogue with both municipalities and contractors who attended the workshop and who specifically want to hear what we can deliver and at what price," says Morten Hougaard Sørensen.
IF YOU WANT TO KNOW MORE
Contact:
Morten Hougaard Sørensen
Adm. director, Advent Technologies A/S, Denmark
Tel. 40 68 00 63 · morten.soerensen@advent.energy
https://1-co--pi-dk.translate.goog/aktuelt/nyheder/2023/oktober/virksomheder-fandt-hinanden-ved-markedsdialog-nu-udvikler-de-sammen-ny-loesning/?_x_tr_sl=da&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_enc=1
Bell for the delay in signing the contract for the big hydrogen project by Vassilis Grigoriou
from
Yannis Kostarellas
09/20/23
The CEO of Advent Technologies, Dr. Vassilis Grigoriou, who spoke at the OT FORUM, held in the context of the 87th TIF.
"Hydrogen is here to stay"
Speaking about climate change and the contribution of hydrogen, Advent's CEO emphasized that “it is a reality and obviously we have to do something as quickly as possible. "Something new is needed and hydrogen, especially green hydrogen is one of the new technologies coming, one of those solutions."
However, according to him, there is also politics. "There are countries and continents that want change and those that don't want change. Our economy is based on fossil fuels. And since Europe does not produce energy, with few exceptions like France's nuclear. He wants hydrogen for energy sufficiency and security," he added, among other things
In this context, Mr. Grigoriou pointed out that "Europe has made the decision to make hydrogen a big player. He has said that I will give enough money to produce enough quantities for machinery and storage areas, etc. We behind this piece saw this opportunity. Europe has put forward some projects of common interest, it wants to invest in hydrogen, it does not want to lose this industry, while it has chosen the South for its production activity."
What is worth underlining - according to Mr. Grigoriou - hydrogen is here to exist.
"In Western Macedonia there is the critical mass for the project "
Mr. Grigoriou for the planned investment of 780m. euro stated that "we believed and we still believe that in Western Macedonia there is the critical mass for such a project. There are people who worked for PPC and there is the culture, there is the University, it is close to Thessaloniki and we could build something world-class with the help of the EU. through the country".
And he continued by emphasizing that "Every 2-3 years Advent makes great achievements. We started as a start-up and now we are a large company on a global level. We distinguished ourselves at Los Alamos. We have ongoing projects with NASA, the US Army and the European Space Agency. We want to bring some of the pieces we have worldwide back to Greece. Europe wants to pay for this particular project and pays two differences. One difference is because Advent is a small company to go to the next step and become a company of 1000-2000 employees (funding gap) and it is ready to pay a lot of money because in other circumstances no one would be able to do the project and the government is required state aid'.
There is a delay in signing the contract
For Green HiPo he emphasized that we received the country's approval and notification last July.
"In the big countries, the contracts have been put forward and advances have been paid. Unfortunately in Greece we have very long delays and I hope we are in the final stages so that the final decision can be made whether we will proceed here or go somewhere else in Europe".
He also underlined that "in Greece we want to bring big players" and as Europe estimates there will be an additional 8.8 billion private expenditures. We, unfortunately for us, have got the biggest project of 700 million in the smallest country. We are waiting to get the contract and we will make the investment. I believe everything will be fine. It should be noted that Europe is not a federal state, the intentions are there but there is a delay. I understand that, but the markets don't. The company is persistent but there is a lot of pressure. In the end we will see if everything was right," he concluded.
In fact, he pointed out that Greece invited the company for the implementation of the program and not the other way around.
https://xronos--kozanis-gr.translate.goog/kabanaki-gia-tin-kathysterisi-stin-ypografi-symvasis-gia-to-megalo-project-tou-ydrogonou-apo-ton-vasili-grigoriou/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
This prospectus relates to the offer and resale, from time to time, of up to 2,724,377 shares of common stock (the “Shares”) of American Battery Technology Company, par value $0.001 per share (the “Common Stock”), issuable upon the conversion of senior secured convertible notes (the “Notes”). On August 30, 2023, we sold and issued to the selling stockholders named herein (each, a “Selling Stockholder,” and collectively the “Selling Stockholders”) the Notes in the aggregate principal amount of $25,083,333.33. The Notes are convertible into shares of our Common Stock, subject to certain conditions and limitations. We sold the Notes in a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to a Securities Purchase Agreement, dated August 29, 2023 (the “Purchase Agreement”), with the Selling Stockholders. We are registering the resale of the Common Stock issuable upon conversion of the Notes as required by the Purchase Agreement.
https://www.sec.gov/Archives/edgar/data/1576873/000149315223032681/forms-3.htm
More dilution. I hate being right sometimes
Yes, scammed a lot of people unfortunately
So, they can dilute more than 30 million shares now. We shall see. Trend is your friend. I heard so many "investors" say they wouldn't R/S
2 million shares at .65 = $1.3 million before r/s
2 million shares at $9.54 = $19 million dollars
Before R/S New O/S 692,068,218 08/09/2023 another 2,054,496 increase
So, approx 46,137,881 O/S w/ reverse split
O/S 690,013,722 07/09/2023 An increase 44,318,385 shares from last year May 2022
O/S 645,695,337 04/08/22
O/S 636,196,275 3/11/22
O/S 631,787,717 11/12/21
O/S 630,787,717 10/08/21
O/S 603,421,207 09/10/21
O/S 599,195,991 08/13/21
O/S 576,067,632 07/16/21
O/S 569,976,046 06/04/21
Increase of 9,499,062 from March 2022
Increase of 4,408,558 from Jan 2022
Increase of 1,000,000 from Oct 2021
Increase of 27,366,510 from Sept 2021
Increase of 4,225,216 from Aug 2021
Increase of 23,128,359 from July 2021
Increase of 6,091,586 from June 2021
increase of 4,799,999 May 2021
increase of 13,706,680 from April 2021
A/S is 1.2 billion and the O/S as of 04/09/2021 is 555,976,046.
How about that... a reverse split.
Thessaloniki International Fair: The History of the Region’s Biggest Event. This year, the Thessaloniki International Exhibition Center will host the from September 9th to September 17th. Thousands of visitors from Greece and across the world flock to Greece’s second city to be entertained, trade, browse, or simply be part of the festive atmosphere.
Next weekend the visit to TIF: (Prime Minister Kyriakos Mitsotakis 15th-17th)
The visit of Kyriakos Mitsotakis to Thessaloniki in the framework of the 87th TIF is planned for next weekend, so that by then the framework of support measures for the flood victims has been finalized.
The prime minister's speech and press conference will take place that two days.
https://www-makthes-gr.translate.goog/sti-larisa-metavainei-simera-o-k-mitsotakis-allazoyn-ta-schedia-gia-tin-episkepsi-sti-deth-664266?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_hist=true
Briefing note on the meeting of Prime Minister Kyriakos Mitsotakis with business representatives from the Republic of Korea
Prime Minister Kyriakos Mitsotakis met in the afternoon with a business delegation from the Republic of Korea, at the Maximos Palace.
During the discussion with executives of leading Korean companies, the Prime Minister pointed out that the government's strategic goal is to strengthen Greece's economic relations and exchanges with the Republic of Korea, in the context of a wider opening of the Greek economy to Asia.
It was emphasized that there are many areas of common interest, such as the green transition, the decarbonization of maritime transport, the use of technology in civil protection, the further digitization of government services and the development of tourism.
In this context, it was pointed out that Greece can be a gateway to serve Europe's energy needs, especially as the adoption of new fuels such as hydrogen increases.
The possibility of attracting visitors from Korea to Greece and a direct air connection between the two countries was also noted, while taking advantage of the fact that Korea has one of the most productive entertainment industries in the world, while for its part our country offers a particularly attractive package of incentives to attract audiovisual producers.
The Prime Minister underlined that Greece is a country that is developing dynamically, at clearly faster rates than the eurozone average, attracts a large volume of direct foreign investment, has a highly skilled workforce and offers many opportunities in a number of sectors, where it has comparative advantages.
The two sides agreed to continue contacts to deepen their cooperation at a high level in the near future, while it was pointed out that this year the Republic of Korea will participate for the first time with a stand at the Thessaloniki International Exhibition.
On the Greek side, the Deputy Minister of Foreign Affairs for Economic Diplomacy and External Affairs Konstantinos Fragogiannis, the Director of the Diplomatic Office of the Prime Minister Ambassador Anna-Maria Boura, the Head of the Economic Office of the Prime Minister Alexis Patelis and the International Policy Advisor took part in the meeting and Public Diplomacy of Prime Minister Aristotelia Pelonis.
The Korean delegation consisted of the Chairman of the Korea Chamber of Commerce and Industry and Chairman of SK Group, Chey Taewon, the Executive Vice President for Innovation of SK Group, Yoosuk Kim, the Vice President and CEO of Hyundai Heavy Industries, Ka Sam Hyun, Hanwha Aerospace and Hanwha Foundation of Culture President Shin Hyun Woo, Hyundai Motor Europe Vice President Kim Yong Jin, Korea Chamber of Commerce and Industry Vice President Lee Seong Woo and Export-Import Bank Vice President and Chief Operating Officer of Korea, Kwon Woo Seog. The Ambassador of the Republic of Korea to Greece, Lee Jung Il, also took part in the meeting.
https://www.primeminister.gr/2023/09/04/32474#;
Maybe, but I don't see it. The one good thing is Hellenic Ministry of Development and Investment has been busy the last week or so.
Nothing about Green HiPo
Let us recall the topics in the live broadcast of the Economic Committee of 8-30-2023 are the following:
1. Approval of the minutes of the previous meeting
2. Approval of the 3rd Amendment (Amendment 3) of the Program of Projects financed by Cash Balances of Past Years of the Regional Unit of Florina for 2023 (Rapporteur: Deputy Governor of the Regional Unit of Florina)
3. Approval of the 4th Amendment (Amendment 4) of the Central Autonomous Resources Program (C.A.P.) of the Regional Unit of Florina for 2023 (Rapporteur: Deputy Governor of the Regional Unit of Florina)
4. Approval of the 1st Practical Tender for the project: "Asphalt pavements in the Itias Postal Code" (Rapporteur: Deputy Regional Governor of Florina Regional Unit - Head of the Technical Services Department)
5. Approval of the 1st Practical Tender for the project: "Road construction infrastructure to support entrepreneurship in P.E. Florina (Municipality of Amyntaio)" (Rapporteur: Deputy Regional Governor of Florina - Head of the Technical Services Department)
6. Approval of the Extension of the Deadline for the Work of the project: "Flood Protection - Technical Cleaning of the National - Provincial Road Network of Florina - Amyntaio 2020"
(Rapporteur: Deputy Regional Governor of the Florina Regional Unit – Head of the Technical Services Directorate)
7. Approval of the Electronic open public Tender for the selection of a Service contractor "Registration and Management of Spatial Data of the Services of the Regional Unit of Florina, in a Geographical Information System Environment" and the terms of the Declaration (Rapporteur: Deputy Regional Governor of the Regional Unit of Florina - Head of the Directorate of Administrative and Financial Services)
8. Approval of the refund of an Unduly Paid amount of the Florina Regional Unit (P.D.M.) (Rapporteur: Deputy Regional Governor of the Florina Regional Unit – Head of the Administrative and Financial Services Department)
9. Approval of the submission of a Proposal to the EAP 2017-2021 for the project entitled "Telecommunications Equipment Grant" Budget: €20,000.00 (including 24% VAT) (Rapporteur: Deputy Governor of the Kozani Regional Unit)
10. Approval of the submission of a Proposal to the EAP 2017-2021 for the project entitled: "Study of the voluntary reclamation of the Kozani Municipality Garden farm" Budget: €283,752.24 (Rapporteur: Deputy Regional Governor of the Kozani Regional Unit)
11. Approval of the 2nd Minutes of conducting an open - electronic process for the selection of a contractor for the construction of the project: "MAINTENANCE AND PROTECTION OF SISANI, MILOHORIO, MESOVOUNO AND PRAMORITSA DAMs" (Rapporteur: Deputy Governor of the Kozani Regional Unit - Head of the Technical Services Directorate)
12. Approval of the 1st Minutes for conducting an open – electronic process for the selection of a contractor for the construction of the project: "INTERNAL SEWAGE NETWORK OF THE EASTERN SETTLEMENT"
(Rapporteur: Deputy Governor of the Kozani Regional Unit – Head of the Technical Services Directorate)
13. Formation of a Committee for the Open procedure through the National System of Electronic Public Contracts of the project: "PROVISION OF SNOW CLEARING SERVICES FOR THE WINTER PERIOD 2023 - 2024 IN THE PROVINCIAL ROAD NETWORK OF THE REGIONAL UNIT OF KOZANI" Budget: €694,300.80 with VAT (Rapporteur: Deputy Governor of the Kozani Regional Unit – Head of the Technical Services Directorate)
14. Formation of a Committee for the Open process through the National System of Electronic Public Contracts of the project: "Pilot Energy Positive Building - The case of the Agricultural and Veterinary Center as an Experimental Laboratory in Western Macedonia" Budget: €530,000.00 including VAT. (Rapporteur: Deputy Governor of the Kozani Regional Unit – Head of the Technical Services Directorate)
15. Approval of expenditure for the co-organization of musical cultural events of the Association of Friends of Music "Velventine Fones" and the Regional Unit of Kozani, on September 10, 2023 (Rapporteur: Deputy Governor of the Regional Unit of Kozani)
16. Approval of expenditure for the participation of P.E. Kozani at the event of the Municipality of Kozani for the elderly, which will take place on September 10, 2023 (Speaker: Deputy Regional Governor of Kozani)
17. Approval of expenditure for the co-organization of the Educational Association of Alonakia "PONTOS" and the Regional Unity of Kozani in cultural events, on 7-9/9/2023 (Rapporteur: Deputy Governor of the Regional Unity of Kozani)
18. Approval of expenditure for the co-organization of the Eastern Cultural Association "The East" and the Regional Unity of Kozani in the festive events, 13-14/9/2023b
(Rapporteur: Deputy Regional Governor of Kozani)
19. Approval of the 10th amendment of the Central Autonomous Resources Program (CAP) 2023 of the Regional Unit of Kastoria (Rapporteur: Deputy Governor of the Regional Unit of Kastoria)
20. Approval of the 11th amendment of the Central Autonomous Resources Program (CAP) 2023 of the Regional Unit of Kastoria (Rapporteur: Deputy Governor of the Regional Unit of Kastoria)
21. Approval of 1st A.P.E., 1st P.T.K.M.N.E. and the 1st Supplementary Contract of the project: "Improvement of Lianotopi - Grammos road" contractor "Mr. Vasilios Dedes of Athanasios - Photios Demiris of Nikolaou" (Rapporteur: Deputy Governor of the Regional Unit of Kastoria - Head of the Technical Services Department)
22. Provision of Mandate and Power of Attorney to represent the Region of Western Macedonia (Rapporteur: Vice-Regional Governor of the Regional Unit of Kastoria – Head of the Directorate of Administrative and Financial Services)
23. Approval of P.E. expenses Kastoria (Rapporteur: Deputy Governor of the Regional Unit of Kastoria – Head of the Directorate of Administrative and Financial Services)
24. Approval of the Minutes II of the verification of the supporting documents of the temporary contractor of the project "COMPLETION OF ACCESS TO THE POROS BRIDGE"
(Rapporteur: Deputy Governor of the Regional Unit of Grevena – Head of the Technical Services Directorate)
25. Approval of specialization of expenditure appropriations for the year 2023 (Rapporteur: Deputy Governor of the Regional Unit of Grevena – Head of the Directorate of Administrative and Financial Services)
26. Approval of the draft Declaration of open tender procedure for the assignment of the service: "Lease of project machinery for the execution of road safety restoration works of the National Road Network" (Rapporteur: Head of the Technical Services Directorate)
27. Approval of the allocation of credit in the amount of thirteen thousand four hundred and eighty-six euros (€13,486.00), plus VAT, for the cleaning of fire protection zones in the area of D.D. Loukomi of the Municipality of Voi and for the repair and formation of a rural road of the Chrysavgi Community of the Municipality of Voi, for fire protection purposes (Rapporteur: Head of the Civil Protection Department)
28. Approval of the allocation of credit in the amount of fourteen thousand and five euros (€14,005.00), plus VAT, for the removal of debris, the repair and cleaning of the forest road network of the Public Forest of Voi in the location "Kapsalia" (Rapporteur: Head of the D/ of Civil Protection)
29. Appropriation of credit for the project "Extension of the Koromilia-Kolokynthos irrigation network to Mesopotamia" (Rapporteur: Head of the Planning and Development Department)
30. Approval of the Procedure III for the execution (Check of Documents of the Temporary Vendor) of the electronic open tender for the "PROCUREMENT OF PERSONAL PROTECTION EQUIPMENT (PPE) FOR THE NEEDS OF THE SERVICES OF THE REGION OF WEST MACEDONIA (Headquarters) and PE KOZANI of the PDM"
(Rapporteur: Head of the Financial Services Directorate)
31. Amending the budget of the Region of Western Macedonia 20th/2023 (Rapporteur: Head of the Directorate of Financial Services)
32. Approval of the allocation of credit concerning a premium for the project "REPAIR OF A SPECIAL PTO/DAS LABORATORY AT T.K.AG. CHRISTOFOROU" (Rapporteur: Head of the Financial Services Department)
33. Approval of the allocation of credit concerning a premium for the project "0.33 MW HYDROELECTRIC POWER PLANT AT THE SITE OF "SISANIOU DAM" OF DE ASKIO OF THE MUNICIPALITY OF VOIO OF KOZANI" (Rapporteur: Head of the Financial Services Department)
34. Approval of expenditure in favor of DEDIE for the relocation - variation of the distribution network of the project "IMPROVEMENT OF THE ROAD SECTION OF VOUNASAS-ELATIS ROAD WITHIN THE BOUNDARIES OF KOZANI (2018??04100009)" (Rapporteur: Head of the Directorate of Financial Services)
35. Approval of expenses of the Region of Western Macedonia (Rapporteur: Head of the Directorate of Financial Services)
https://www-pdm-gov-gr.translate.goog/apeftheias-metadosi-tis-synedriasis-tis-oikonomikis-epitropis-tis-perifereias-dytikis-makedonias-30-8-2023/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
It shows the strict rules about fighting corruption. Why wouldn't the EU have the funds? They wouldn't hand it over to Greece without vetting process.
EU has the funds
On May 3, 2023, the European Commission (the “Commission”) proposed a new directive[1] in the area of criminal law with the goal to harmonize corruption offenses, sanctions, related prevention and enforcement (the “Proposed Directive”). If adopted by the European Parliament and Council, the directive would significantly contribute to unifying and tightening rules across Europe. EU Member States would have to transpose that framework into national law within 18 months.[2] Since the Commission proposes “minimum rules concerning the definition of criminal offences and sanctions in the area of corruption, as well as measures to better prevent and fight corruption”[3], the Member States may go beyond the standards set out in the Proposed Directive and adopt even stricter rules in the area of corruption.
1. Key Takeaways
The Commission suggests minimum standards to harmonize the definitions and sanctions for active and passive bribery both in the private and public sectors, as well as of related offenses such as “misappropriation”, “trading in influence”, “abuse of functions”, “obstruction of justice”, and “enrichment from corruption offences”.
The Proposed Directive is based on a broad notion of public officials, not only covering EU officials, but also – across branches – functionaries of Member States, third country and international organizations and courts.
The proposal reflects that certain elements of gifts and hospitality are socially more accepted in the area of private enterprise compared with interactions with state functionaries.
If committed by a leading person, a legal person can be held liable for corruption offenses committed for its benefit.
The Commission resorts to its usual terminology by requiring Member States to adopt “effective, proportionate and dissuasive” sanctions, both for natural persons and legal entities. Penalties for human beings may include imprisonment, the sanctions for legal entities may entail fines of no less than 5% of the total worldwide turnover. Further consequences include debarment or disqualification from commercial activities.
Effective internal controls, ethics awareness, and compliance programs to prevent corruption are considered a mitigating factor, as well as the rapid and voluntary disclosure to the competent authorities.
Jurisdiction attaches, (1) if the offense is committed in whole or in part in the territory of a Member State; (2) if the offender is a national of or has his or her habitual residence in a Member State; or (3) if the offense is committed for the benefit of a legal person established in the territory of a Member State.
2. Individual Criminal Liability
At its core, the Proposed Directive provides definitions of bribery in the public sector and the private sector; both in the active and passive alternative.
a) Bribery in the Public Sector
Section 7 of the Proposed Directive defines bribery in the public sector as such:
Member States shall take the necessary measures to ensure that the following conduct is punishable as a criminal offense, when committed intentionally:
(a) the promise, offer or giving, directly or through an intermediary, of an advantage of any kind to a public official for that official or for a third party in order for the public official to act or refrain from acting in accordance with his duty or in the exercise of that official’s functions (active bribery);
(b) the request or receipt by a public official, directly or through an intermediary, of an advantage of any kind or the promise of such an advantage for that official or for a third party, in order for the public official to act or to refrain from acting in accordance with his duty or in the exercise of that official’s functions (passive bribery).
The Proposed Directive is based on a broad notion of public officials, including not only (European) “Union officials,” but also national officials of Member States and of third countries, as well as any other person assigned and exercising a public service function in Member States or third countries, for an international organization or for an international court.[4] The definition of national officials is said to not only include persons holding executive, administrative or judicial offices, but also legislative office[5] (an area in which some countries such as Germany may have had some deficiencies in terms of combatting corruption[6]).
However, the Proposed Directive also contains elements that may, if interpreted broadly, limit the scope of the offense considerably. By way of example, the “advantage” to the public official or third party needs a connection with some performance of the public official in return, given that it must be “in order for the public to act or refrain from acting in accordance with his duty or in the exercise of that official’s functions”. This is arguably more restrictive than some current national laws that criminalize the granting or accepting of benefits without a specific compensation in return.[7]
b) Bribery in the Private Sector
The EU Commission also seeks to introduce an concept of bribery in the private sector
Member States shall take the necessary measures to ensure that the following conduct shall be punishable as a criminal offense, when committed intentionally and in the course of economic, financial, business or commercial activities:
(a) the promise, offer or giving, directly or through an intermediary, an undue advantage of any kind to a person who in any capacity directs or works for a private-sector entity, for that person or for a third party, in order for that person to act or to refrain from acting, in breach of that person’s duties (active bribery);
(b) the request or receipt by a person, directly or through an intermediary, of an undue advantage of any kind or the promise of such an advantage, for that person or for a third party, while in any capacity directing or working for a private-sector entity, to act or to refrain from acting, in breach of that person’s duties (passive bribery).[8]
In principle, this offense appears to be similarly conceptualized as bribery in the public sector. However, a remarkable feature is that this offense requires an “undue advantage” as opposed to a mere “advantage”. By suggesting this qualification, the Commission seems to reflect that certain elements of gifts and hospitality are socially more accepted in the area of private enterprise compared with interactions with state functionaries. Interestingly, the Proposed Directive does not contain a definition of “advantage”, let alone of an “undue advantage”, which may open the door for a broad interpretation of that element.
c) Further Offenses and Substantive Stipulations
The Proposed Directive would also impact national criminal laws, in that its Articles 9 to 13 require Members States to introduce or refine further offenses which form part of the fight against corruption, i.e. “misappropriation”, “trading in influence”, “abuse of functions”, “obstruction of justice”, and “enrichment from corruption offences”.
Member States are also requested to ensure that they can punish these offenses in cases of incitement, as well as aiding and abetting.[9] The Proposed Directive does not require Member States to criminalize “attempts” of bribery and passive bribery,[10] but this is an area where Member States may go beyond the Proposed Directive.[11]
3. Sanctions
With respect to punishment, the Commission resorts to its usual terminology by requiring Member States to adopt “effective, proportionate and dissuasive” criminal penalties, but also provides rather detailed specifications for the ranges of punishment.[12] Pursuant to the Proposed Directive, bribery in the public sector, as well as obstruction of justice, need to be punishable by a maximum term of at least six years. Bribery in the private sector is apparently deemed less grave, as the Commission foresees a maximum term of at least five years. Further legal consequences envisioned by the Proposed Directive entail, among others, fines, removal and disqualification from public office or the exercise of commercial activities in the context of which the offense was committed, and exclusions from access to public funding.[13]
4. Jurisdiction
In essence, the Proposed Directive foresees jurisdiction of the Member States over corruption offenses if one of three conditions apply:
The offense is committed in whole or in part in the territory of a Member State;
The offender is a national of or has his or her habitual residence in a Member State; or
The offense is committed for the benefit of a legal person established in the territory of a Member State.[14]
This is arguably a similar framework to the version set out by the U.S. Foreign Corrupt Practices Act.[15] Practical enforcement would need to show whether extraterritorial enforcement of anti-corruption law by EU Member States or the European Public Prosecutor’s Office would gain a more significant role than in the past.
5. Corporate Liability / Relevancy of Compliance Programs and Internal Control Systems
The Proposed Directive prescribes that the Member States take necessary measures to ensure that legal entities can be “held liable” for any of such crimes.[16] This language is supposedly due to the fact that European legal orders vary significantly when it comes to “corporate crime”. Presumably against this background, the Proposed Directive takes a narrow approach, in that it requires that the offense be committed:
for the benefit of a legal person;
by a natural person within the legal person, acting either individually or as part of an organ of the legal person; and
by having a leading position within the legal person, based on at least one of the following: A power of representation of the legal person; the authority to take decisions on behalf of the legal person; or the authority to exercise control within the legal person.
If a more subordinate employee committed a relevant offense, legal persons must be held liable if the lack of supervision or control by a leading person has made possible the commission of a crime by a person under his or her authority.[17]
In terms of sanctions for legal persons, the Proposed Directive stipulates that they need to include criminal or non-criminal fines of a maximum limit of no less than 5% of the total worldwide turnover of the legal person, including related entities, in the business year preceding the decision imposing the fine.[18] Further sanctions include the exclusion from entitlement to public benefits or aid; the temporary or permanent exclusion from public procurement procedures; temporary or permanent disqualification of that legal person from the exercise of commercial activities; the withdrawal of permits or authorizations to pursue activities in the context of which the offense was committed; the possibility for public authorities to annul or rescind a contract with the legal entity in the context of which the offense was committed; the placing of that legal person under judicial supervision; the judicial winding-up of that legal person; or the temporary or permanent closure of establishments which have been used for committing the offense.[19]
Article 18 of the Proposed Directive includes examples of aggravating and mitigating circumstances. A very relevant mitigating circumstance applies to a legal entity if it has implemented effective internal controls, ethics awareness, and compliance programs to prevent corruption prior to or after the commission of the offense.[20] The Proposed Directive is not more detailed on the specific requirement in this regard. A legal person can benefit from a further, arguably controversial, mitigating factor if it rapidly and voluntarily discloses the offense to the competent authorities and takes remedial measures.[21] This incentive forms part of a general international trend to encourage legal entities to inform prosecuting authorities of criminal offenses committed in its corporate environment.[22]
6. Prevention, Enforcement and Monitoring
The Commission goes considerably beyond merely harmonizing the substantive law, but aims through a variety of means to lay the ground for a comprehensive fight against corruption. For instance, the Proposed Directive sets out several Member State obligations to prevent corruption (such as raising public awareness).[23] It also introduces “specialized bodies”, both in the prevention and repression of corruption, to be established by the Member States,[24] and makes further provisions for resources, training, and investigative tools,[25] as well as cooperation between Member States and EU institutions[26].
https://www.gibsondunn.com/eu-commission-proposes-harmonized-framework-to-combat-corruption/
That could be the case with that interpenetration. If Green HiPo funding doesn't come through this year, then yes, they will have to dilute to stay a float.
Vasilis Gregoriou
Thank you, Kevin.
Advent have significant opportunities for its high temperature PEM technology, advanced materials and fuel cell system products. Advent is a clear energy technology company, developing innovative products for key sectors that require clean energy. We look forward to growing the business and to give you a breadth of development. I would like to thank you all for joining us today.
Before we open the line to any questions from the company's analysis, I would like to address questions submitted by Lacie Midgley with Panmure Gordon, who is unable to join the call today. The first question is, can you provide an update on the Green HiPo project and expect the timing on evaluation, confirmation of final funding documents and subsequent releases of funding.
As I said a little bit in the script, we are very keen to officially launch the green HiPo, and we have demonstrated particular actions that says that we're moving in this direction. First of all, we schedule all the R&D and development work. Second, we have identified a suitable site.
We purchased the land, and we have commenced with planning. Third, very important, we have entered this very strategic agreements with BASF another option that we cannot mention right now. And we will announce, obviously, the details at the appropriate time that ensures that the minute we start - we have this giant with us to be able to manufacture the products with quality and at the right time.
In the meantime, as we said, we are complaint to the European Union because we feel that this is a big delay here from the state, and it's simply not acceptable by us. So I sent the letter to commissioner Breton, who initiated an internal discussion within the European Commission with DG growth and DG internal market industry and SME.
These are policy departments, the directional general. And there, what we got back is that despite that within the holiday month, the European union will work very close to the Greek authorities, to be able to inform us and us inform you the shareholders that the project we received the foreseen public funds. So I think where in the last stages. And there, as you know, we have very big delays with interaction with other European partners. Of course, we have suffered, we believe a big loss in our valuation because of all of that.
So this thing needs to be resolved as soon as possible. The Europeans understand that this is a project of common European interest. It's not Greece only, not Italy for - then oral let's say, it's not transfer McAfee. So I think the Europeans were push very hard on this. Now we received on August 4, a letter by the Deputy Minister of Economy and Finance from Greece, Mr. [indiscernible] and respond to my letter to him on July 25. And basically, the idea is, and I will go over later in a bit - the idea is that the Greek state is examining and planning ways to implement actions and to strengthen the initiatives that will contribute to the transition, the productive and growth model of the great economy towards climate neutrality.
Parameters for the plan and such actions include implemented projects at specific times, the viability of the completed proposal plans as well as compliance with regulatory obligations and guidelines regarding the management of European funds. The Greek state is kind of reviewing funding for IPCEI program and we'll provide further updates at the appropriate time. So the delay is solely with the Greek state, and we expect this to be resolved very, very soon.
You can imagine we do everything in our capacity to finish this. And we will keep you posted on the developments, which, as I said, I think that will be very strong. Second question is, again, from Lacie. Can you provide an update on the Hyundai JDA and next key milestones, including expected first half? As you know, the - as with other automotive manufacturers, Hyundai is an OEM.
And basically, they were developing in the fuel cell system in collaboration with the OEM. We have a joint development agreement now where the Advent MEA and actually our fuel cell expertise as well will be incorporated in an automotive agent with Hyundai. And Hyundai has shown great interest in the technology and basically behind on fair technology. And we - also there, we incorporate Hyundai technology as well. We use Hyundai catalyst for that particular program.
So the whole idea is to achieve the power targets that they are conducive for automotive in order for this to become an actual product. Now, as you know, we have three core hardware models on the market already.
So we have good experience from using them. And as I said in other calls as well, it's not only Hyundai that we work with, we have other large companies that we cannot name but we're working very hard - actively with all of them. The other question is how has the collaboration with Siemens Energy for maritime fuel cell solution progress?
Is licenses progressing to JDA or similar depending on successful technology testing? And there, the collaboration with Siemens, as you know, is on this very exciting section of maritime. We're very happy that our methanol vision because we have this for quite some time now, as you know, the ones that you follow us the methanol and eventually e-methanol that arrive from green hydrogen, we believe will be the key fuel in the path to net zero for maritime.
So not only [indiscernible] but also Alfa Laval, Maersk, they all work there, and we try to collaborate with [indiscernible], but we have the recent success with Siemens and Sanlorenzo, and we feel very proud about that. So again, the idea is that when you use high temperature PEM and e-methanol, we're talking about a similar system and an expensive one-stage reformation, whereas low temperature then requires 99.99% pure hydrogen.
The selling system now that we use, it's made in Denmark. And we're talking about 100 kilo, but we actually also can go to 250 kilo easing. So that's the status over there. I think there is the right technology and the right market, and it's a obligation, if you will, to grow this as fast as we can. Another question is how has conversation as part of the early stages of the BASF agreement progressed with regard to establishing the end-to-end supply chain in Europe.
I think we discussed that also in the script. Basically, the idea is that the BASF agreement is very significant for us because, one, it endorses our technology; and second, we fortify our supply chain. We are working on high temperature PEM with BASF for about 15 years now, as you know. BASF is a global leader in manufacturing and brands, electrodes, a lot of expertise with PVI. And as I said, we're very close and for me, would be a key parameter, this association in accelerating the Green HiPo Project.
Win-win situation for both parties and very secure deal, if you will, for the customer as well. Another thing I don't want to be left out of the conversation is the ability of BASF to manage precious metals in closed loop processing of this material. That's very important when we go from more pilot programs to throw large-scale manufacturing.
The next question is, does your current cash position and currently burn rate gives you sufficient headroom has been funding received for and to execute on the Green HiPo Project and other commitments?
I'm going to turn this to Kevin. So Kevin, could you please answer this?
Kevin Brackman
Yes, sure. Thank you, Vassili. So let me share some information on our liquidity situation and cash burn rate. So we finished the second quarter with right around $10 million of available cash on our balance sheet. As you know, over the past three months or so, we've put in place a couple of different equity facilities.
One is an equity line of credit with Lincoln Park Capital. The other is an ATM facility with H.C. Wainwright. Each of those facilities gives us the opportunity to access up to $50 million of capital over the next three years. And that's our - at our discretion on whether and when we utilize those facilities.
So we have those two facilities in place. As I mentioned in my comments this morning, we raised $3.4 million in the month of June, utilizing one of those two facilities. At the same time, we have also taken actions recently to reduce our costs and to reduce our spend rate.
So as I look forward to the second half of the year, I'm anticipating that our monthly spend for operating and capital expenses will probably range between $2.5 million and $3 million per month. And so the $3.4 million that we raised back in June is sufficient or even more than sufficient to cover what we expect to be our monthly spend rate in the second half of the year.
So that would continue to be our plan in the short term. It's to continue to use these facilities to raise the cash that we need to cover our operating expenses until such time that we receive funding from either Green HiPo or from other sources of capital. And with that, I will turn it back to Vassili.
Posting old articles. How much money are you losing? No comment on the great earnings?
"We’re delighted to have delivered our first quarterly Adjusted EBITDA profit as a public company,” said Clover Health CEO Andrew
Toy.
Clover Health Reports Strong Second Quarter 2023 Results; Highlights Improved Financial Performance and Guidance
Ranges
Insurance revenue grew 17% compared to Q2'22, and second quarter Insurance MCR improved to 77.2%, bringing first half MCR to
81.9%
Company reports Q2 Net Loss of $28.8 million, and Adjusted EBITDA profit of $10.0 million
Improved 2023 guidance includes Insurance MCR of 83% - 85%, and Adjusted EBITDA of ($70) million - ($120) million
FRANKLIN, Tenn. - August 8, 2023 – Clover Health Investments, Corp. (NASDAQ: CLOV) ("Clover," "Clover Health" or the
"Company"), a physician enablement company committed to bringing access to great healthcare to everyone on Medicare, today
reported financial results for the second quarter 2023. Management will host a conference call today at 5:00 p.m. ET to discuss its
operating results and other business highlights.
For the second quarter 2023, the Company reported revenue of $513.6 million and net loss of $28.8 million. Adjusted EBITDA in the
second quarter 2023 improved to a gain of $10.0 million compared to the second quarter 2022 loss of $83.9 million. Compared to the
second quarter 2022, Insurance revenue grew by 17% to $314.4 million, and MCR improved to 77.2% from 92.1%. As contemplated
in the Company's previously disclosed strategic shift for the Non-Insurance segment, Non-Insurance revenue declined by 67% to $193.5
million, and MCR improved to 99.6% from 106.0%.
"We’re delighted to have delivered our first quarterly Adjusted EBITDA profit as a public company,” said Clover Health CEO Andrew
Toy. “We have been strategically focused on demonstrating the strength of our model by maturing operations, driving efficiencies, and
continuing to invest in Clover Assistant R&D and our home care capabilities. We have multiple exciting initiatives in each of these
areas that we expect will allow us to maintain our momentum through the second half of the year and into 2024. We are reflecting that
expectation via significantly improved full year 2023 guidance for the Insurance segment and on a consolidated basis."
"Insurance MCR improved by more than 1,400 basis points and Non-Insurance MCR improved by more than 600 basis points,
demonstrating the strength of our strategy and our ability to make strides towards sustainable profitability,” said Clover Health CFO
Scott Leffler. “We are excited about our improved outlook for 2023, the favorable impact on our liquidity position, and are also
increasingly confident in the Company’s potential to deliver profitability on an Adjusted EBITDA basis for full year 2024 without the
necessity of raising additional capital."
https://investors.cloverhealth.com/static-files/3731b516-6961-45d8-aba6-7509a4b31791
A feeling huh. They will continue to dilute more shares and will R/S over $5 to attract Institutional Ownership. They don't care about retail.
https://fintel.io/so/us/abml
To get off the OTC they will need a reverse split IMO
Only? that s huge float
New O/S 690,013,722 07/09/2023 An increase 44,318,385 shares from last year May 2022
O/S 645,695,337 04/08/22
O/S 636,196,275 3/11/22
O/S 631,787,717 11/12/21
O/S 630,787,717 10/08/21
O/S 603,421,207 09/10/21
O/S 599,195,991 08/13/21
O/S 576,067,632 07/16/21
O/S 569,976,046 06/04/21
Increase of 9,499,062 from March 2022
Increase of 4,408,558 from Jan 2022
Increase of 1,000,000 from Oct 2021
Increase of 27,366,510 from Sept 2021
Increase of 4,225,216 from Aug 2021
Increase of 23,128,359 from July 2021
Increase of 6,091,586 from June 2021
increase of 4,799,999 May 2021
increase of 13,706,680 from April 2021
A/S is 1.2 billion and the O/S as of 04/09/2021 is 555,976,046.
If you don't want to read the filings that is fine. Very typical in wall st. I'll be fine with my average of $1.03
So many incorrect shit posting.
1) It was for tax obligations like an other stock RSU's
2) NASDAQ compliant today (10 days over $1)
3) there is no R/S, but there is a vote for one (NASDAQ compliant might make that useless now)
4) settled lawsuit = great
5) share dilution at $5.75 was the right call considering this dropped below a $1 and would have had to dilute more if they waited
1. Represents shares of Class A Common Stock that were automatically withheld to cover tax obligations upon the vesting, on July 25, 2023, of 25% of the original number of time-based restricted stock units ("RSUs") granted to the Reporting Person on July 25, 2022, and timely reported on a Form 4 filed on July 25, 2022. The remaining RSUs vest in twelve equal quarterly installments beginning on the date that is three months after July 25, 2023, in each case subject to the continued service of the Reporting Person on such vesting date.
https://www.sec.gov/Archives/edgar/data/1801170/000089534523000420/xslF345X05/form4.xml
Lignite with 30% in the energy mix in the middle of a heat wave
14:22 pm, Tuesday 25/07/2023 | Kozani
The contribution of lignite to the energy mix in the last ten days with the hot weather is 30%. RES while fluctuating at 42% from July 16 to 19 and then dropped to around 16.6% because the wind turbines were not working. Natural gas has the lion's share with a participation of 70%. At the same time we are the 4th most expensive country in Europe after Malta, Ireland and Poland with 127.28 euros/megawatt hour.
https://www-prlogos-gr.translate.goog/%ce%bf-%ce%bb%ce%b9%ce%b3%ce%bd%ce%af%cf%84%ce%b7%cf%82-%ce%bc%ce%b5-30-%cf%83%cf%84%ce%bf-%ce%b5%ce%bd%ce%b5%cf%81%ce%b3%ce%b5%ce%b9%ce%b1%ce%ba%cf%8c-%ce%bc%ce%b5%ce%af%ce%b3%ce%bc%ce%b1-%ce%b5/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc
Natural gas era in Western Macedonia: In March the "journey" of the new pipeline begins (photo)
Which cities will it pass through - The landscape is changing in the region - The prospects and opportunities - "Greece is energy secure"
Stefanos Mahtsiras
A new chapter in the long energy history of the West. Macedonia, which is "hurt" by de-lignitization, even if the energy crisis temporarily postponed it, opens in March as the works begin for the implementation by DESFA of the Western Macedonia pipeline, which will also be able to transport hydrogen.
"The pipeline will bring investments to the region, while in the future it will help other forms of green energy such as biomethane and hydrogen to come to Western Macedonia. Western Macedonia will be the first Region in Greece to have access to hydrogen. The pipeline is one of the first in Europe that can transport up to 100% hydrogen. Local communities will enjoy a multitude of economic and social benefits, societies are fully ensured in the era of transition after lignite", pointed out Maria Rita Galli, CEO of DESFA, in the framework of the Administrator's event in Kozani.
Mrs. Galli assured that Greece is energy secure by reducing its dependence on Russian natural gas, while now with the infrastructures that are being implemented, it will be able to export energy to other countries as well. At the same time, she appeared modestly optimistic about the course of natural gas prices, expressing the belief that "the market will balance although there will be ups and downs".
"Historical day for Western Macedonia, an important project is on track for implementation. The region continues to hold the scepter in the energy field, pioneering. We aspire to attract investments", noted the regional governor of Western Macedonia, Giorgos Kasapidis.
"It's good, even if it's late," said the mayor of Kozani, Lazaros Maloutas, about the arrival of natural gas in the region, making special mention of the prospects that are opening up.
According to the DESFA Development Program 2022-2031 plan, the pipeline is expected to be completed at the end of 2024, while its cost will reach 147 million euros. Its financing is fully guaranteed, from the Manager's own funds and the Cooperative Bond Loan, in the amount of 505 million euros, which has been concluded with the four systemic banks, for the financing of the ten-year Development Program of the ESFA 2021-2030.
It is recalled that the pipeline will have a total length of 147 kilometers, with its main section starting from Trikala, Imathia, and the national system's hermitage at the point, and ending at Ptolemaida, near the settlement of Komnenos in the Regional Unit of Kozani. At the same time, it will have four branches, so that the gas reaches all the urban centers of the Region.
The design of its layout was made with the aim of covering all the urban centers of the region. Thus, thanks to the main section and the four sub-branches, the pipeline gas will "reach" as far as Edessa, Skydra, Naoussa, Veria, Florina, Amyntaio, Ptolemaida and Kozani. At the same time, there will be provision (expectations) for future expansion, with the aim of supplying pipeline gas to the area of Kastoria.
The project also envisages the construction of a Heart Measurement Station to provide the district heating facilities for Kozani, Ptolemaida and Amyntaio, a particularly critical issue for the residents.
In the future, the arrival of gas in the area will also enable (after 2028) the new lignite unit "Ptolemaida 5" to operate with natural gas.
With an eye on the future
It is worth noting that the pipeline will be 100% compatible with the transport of hydrogen – in fact, it is the first similar infrastructure, and one of the few in Europe, that fully supports the movement of renewable gases.
In this context, it will constitute an important infrastructure that will frame the investment projects that are in the works, so that Western Macedonia remains one of the most important energy centers of the country, now with the production of "green" hydrogen.
Also, the project will be included in the "map" of the European Hydrogen Backbone (EHB), i.e. the plan of European Operators and companies to develop a pan-European network of pipelines for the transport of "green" hydrogen.
https://www-makthes-gr.translate.goog/epochi-fysikoy-aerioy-sti-dytiki-makedonia-ton-martio-xekina-to-taxidi-toy-neoy-agogoy-fot-631115?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc&_x_tr_hist=true
NYSERDA update:
Regional Clean Hydrogen Hubs Demand-side Support Notice of Intent. Responses are due by July 24, 2023, 5:00 p.m.
The Regional Clean Hydrogen Hubs program–or H2Hubs–includes up to $7 billion to establish six to 10 regional clean hydrogen hubs across America. As part of a larger $8 billion hydrogen hub program funded through the Bipartisan Infrastructure Law, the H2Hubs will be a central driver in helping communities across the country benefit from clean energy investments, good-paying jobs and improved energy security.
Clean hydrogen hubs will create networks of hydrogen producers, consumers, and local connective infrastructure to accelerate the use of hydrogen as a clean energy carrier that can deliver or store tremendous amounts of energy.
The production, processing, delivery, storage, and end-use of clean hydrogen, including innovative uses in the industrial sector, are crucial to DOE’s strategy for achieving President Biden’s goal of a 100 percent clean electrical grid by 2035 and net-zero carbon emissions by 2050.
Hydrogen energy has the power to slash emissions from multiple carbon-intensive sectors and open a world of economic opportunity to clean energy businesses and workers across the country. Getting hydrogen right would mean unlocking a new source of clean, dispatchable power, and a new method of energy storage. It would mean another pathway for decarbonizing heavy industry and transportation.
The Bipartisan Infrastructure Law included several requirements for H2Hubs, including feedstock diversity and end use diversity.
This program will develop H2Hubs that demonstrate the production, processing, delivery, storage and end-use of clean hydrogen, in support of the Biden Administration’s climate goals.
The H2Hubs will form the foundation of a national clean hydrogen network that will contribute substantially to decarbonizing multiple sectors of the economy and creating good paying jobs.
https://www.energy.gov/oced/regional-clean-hydrogen-hubs
G. Hatzimarkakis: Hydrogen will play a fundamental role in the energy future of Greece
July 10, 2023
"Hydrogen will play a fundamental role in the energy future of Greece". George Hatzimarkakis , Managing Director of the European Hydrogen Association "Hydrogen Europe" and former German MEP, emphasizes the above in a letter to the Greek Prime Minister, Kyriakos Mitsotakis , stressing at the same time that "Greece is on a growth trajectory".
After congratulating the Greek Prime Minister for this remarkable election result, Mr. Hatzimarkakis wishes him good success and the necessary luck for the next four years.
This overwhelming result points out that it keeps the country on the path of stability and decent development, a development that is so important for all Greek women and men inside and outside Greece after the turbulent years that hit the country very hard. Greece is back on the growth track but the ongoing challenges and multiple crises in Europe and worldwide will require bold and targeted actions.
The stable political majority emphasizes that the New Democracy won will create the necessary ground for the continuation and development of an efficient and structured energy policy, as energy is the main factor for stability in the daily life of citizens, industry and especially prices.
Regarding the energy future of the country, Mr. Hatzimarkakis points out that hydrogen will play a fundamental role. It will allow compensating for the intermittent period of a rapidly growing renewable energy sector in Greece. It will contribute to the replacement of fossil energy sources especially for energy production which is still based on lignite.
Then refer to phasing out lignite units much earlier than other European economies. The hydrogen sector is ready to support this process under the leadership of Mr. Mitsotakis.
Mr. Hatzimarkakis points out that Western Macedonia will be one of the hotspots of the transition to renewable energy sources, clean technologies and hydrogen. Under the Mitsotakis government, the largest IPCEI in European history was presented with the "Green Hippo" which simultaneously highlights the strong role of Greece in the hydrogen economy. It should make all Greek women and men proud as this forward-looking sector needs pioneers which the Greek industry certainly has to offer.
Finally, the former MEP emphasized that he is deeply convinced that, alongside tourism, the hydrogen sector will contribute massively to sustainable and lasting economic development. They are the two driving forces of the Greek economy as ecological tourism will be one of the strategic goals of the hydrogen sector in Greece.
In closing, he emphasized that the European Hydrogen Union will support the effort of Greece and the Greek Government for energy independence.
https://finupnews-gr.translate.goog/%CE%B3-%CF%87%CE%B1%CF%84%CE%B6%CE%B7%CE%BC%CE%B1%CF%81%CE%BA%CE%AC%CE%BA%CE%B7%CF%82-%CF%84%CE%BF-%CF%85%CE%B4%CF%81%CE%BF%CE%B3%CF%8C%CE%BD%CE%BF-%CE%B8%CE%B1-%CE%B4%CE%B9%CE%B1%CE%B4%CF%81%CE%B1/?_x_tr_sl=el&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc