Advent Technologies Holdings Inc (ADN)

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Western Macedonia: From lignite to hydrogen, with Advent Technologies' Green HiPo "vehicle"
Thanasis Tegos August 3, 2023
https://tharos.gr/dytiki-makedonia-apo-ton-ligniti-sto-ydrogono-me-ochima-to-green-hipo-tis-advent-technologies/

Interviews in "Tharros", on the occasion of the great investment in our region, of the "Green HiPo" of Advent Technologies (Advent), a company listed on the NASDAQ stock exchange in New York
On the occasion of the great investment in our region, the " Green HiPo " of Advent Technologies (Advent), a company listed on the NASDAQ stock exchange in New York , " Tharros " proceeded to interviews the Regional Governor of Western Macedonia Giorgos Kasapidis, the Deputy Minister of the Interior, Responsible for matters of Macedonia and Thrace, Stathis Konstantinidis, and the President and CEO of Advent Technologies , Dr. Vasilis Grigoriou.

With the plan of Advent Technologies in Kozani, approximately 650 jobs will be created within the next 6 years, by attracting scientists and utilizing the local potential and the University of Western Macedonia. The investment of "Green HiPo" can reach 780 million euros. Innovative fuel cell systems with a total capacity of 120MW and electrolysis units with a total capacity of 1.5GW will be produced in the area.

Advent's "Green HiPo" is one of five projects proposed by Greece for funding under the Important Projects of Common European Interest program of the Hydrogen Technologies and Systems value chain (IPCEI Hydrogen), and one of the first two to receive validation by the European Commission. The approval of the "Green HiPo" by the competent bodies proves the world-class innovative technology that Advent has and the confidence shown by both Greece and the EU in the company's ability to implement such an important project for the transition them to a clean energy future.

The purpose of "Green HiPo" is the construction and operation of an industrial unit, as well as Research and Development (R&D) facilities for the production of fuel cells and electrolysis units, in the area of ??Kozani. These products will be used to produce electricity and green hydrogen , respectively. Green hydrogen is the most environmentally friendly option, as it is produced from renewable sources such as solar and wind energy, through the process of electrolysis, which emits no harmful emissions. Mass production of green hydrogen is needed to decarbonize polluting industries such as steel, fertilizers and refineries, which are responsible for around 14% of global CO2 emissions.

The interviews in "Courage" about the great investment in our region, the "Green HiPo" of Advent Technologies (Advent)
Question to Mr. Stathis Konstantinidis, Deputy Minister of the Interior, Responsible for Macedonia and Thrace: How important is the implementation of projects like Advent's Green HiPo for the consolidation of Northern Greece as an energy center of clean forms of energy?

Western Macedonia: From Lignite To Hydrogen, With "Vehicle" Advent Technologies' Green Hipo

Our region is the energy lung of our country. That is why it is a very important investment, not only for the creation of jobs, but because such an investment also creates an ecosystem. We want Western Macedonia and Northern Greece to pioneer new technologies and renewable forms of energy. Therefore we want companies, which are active in cutting-edge technologies.

I consider this proposal to be one of them. This is a mature proposal. The Region of Western Macedonia and the Regional Governor Giorgos Kasapidis have invested a lot in hydrogen. There are other plans for our area. They are known to all of us and we hope they will play an important role.

Questions to Mr. Georgios Kasapidis, Regional Governor of Western Macedonia:
Why is Advent's Green HiPo project of pivotal importance for the region of Western Macedonia and how is it expected to contribute to the regeneration of the local economy?

The project is of pivotal importance. It concerns the largest investment in green hydrogen technology at this time in Europe and one of the largest in the world.

It is an investment costing around 800 million with over 650 well-paid jobs. It is an investment that is at the core of the European policy for it and is supported by a special framework of important programs of Europe. It is also very important because, from this investment we succeeded and attracted it with the same forces with the support of the prime minister himself, who is personally interested in investments in Western Macedonia. The project will create equivalent jobs to those that will be lost through de-lignitization. At the same time, the burden on the environment will be zero because these are investments that are green and the final products that will be produced will be sold throughout Europe and throughout the world.

What moves have been made with the aim of ensuring that this particular investment will go to Western Macedonia and not to some other region of Greece or Europe?

Western Macedonia has the highest investment incentives of any other Region in Greece, and among the highest in Europe. The Just Transition program foresees special funding for the education and training of workers on the new technologies and the new professions that will open up. This makes it possible for workers who are currently involved in conventional energy technologies to be retrained with funding from the program and to have their training paid for as long as it takes to acquire up-to-date knowledge and skills on these technologies that will secure them a job .

Question to Dr. Vassilis Grigoriou, President and CEO of Advent Technologies:
Why did you choose the region of Western Macedonia for this specific investment and how is Green HiPo expected to contribute to the fulfillment of Europe's ambitious goals?

Although we have industrial production units in two more EU countries, namely Germany and Denmark, we chose Western Macedonia for the implementation of Green HiPo, continuing to show in practice its faith in the dynamics of Greek society and economy. We hope that the project will attract highly qualified scientific and technical personnel. At the same time, the purpose of Advent is also to reverse the brain drain that Greece has been suffering from in recent years and to turn it into a brain gain, bringing back to the country, knowledge and potential that it lost in previous years.

Green HiPo will contribute to meeting the European Union's target of producing 10 million tonnes of renewable hydrogen in Europe by 2030. Through Green HiPo, we aim to contribute to Europe's transition from a carbon-based economy to a more "green" economic model and help our country at the same time.

There is no doubt that Greece has all the resources to act as a strategic hub for the European hydrogen and fuel cell industry. With the implementation of the project expected to start very soon, the entire Advent team will continue to work every day with the goal of turning Greece into an example of how a small country can be a producer of world-class innovation and competitive products.