Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

87th TIF – OT FORUM – Grigoriou (Advent): Europe has taken the decision to make hydrogen a big player
The importance of hydrogen for Europe's energy sufficiency and security was underlined by the company's CEO speaking at the OT FORUM
16.09.2023
https://www.ot.gr/2023/09/16/ot-forum/87i-deth-ot-forum-grigoriou-advent-i-eyropi-exei-parei-tin-apofasi-na-kanei-to-ydrogono-megalo-paikti

The importance of hydrogen for Europe's energy sufficiency and security was underlined by the CEO of Advent Technologies, Dr. Vasilis Gregoriou.

Initially, Mr. Grigoriou referred to the flood disasters in Thessaly, stressing that everyone's thoughts are with our fellow human beings. "It is a TIF very different from the previous ones," he noted.

Speaking about climate change and the contribution of hydrogen, Advent's CEO stressed that "it's a reality and obviously we need to do something as quickly as possible." Something new is needed and hydrogen, especially green hydrogen is one of the new technologies coming in, 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 a few exceptions such as France's nukes. He wants hydrogen for energy sufficiency and security," he added

In this context, Mr. Grigoriou pointed out that "Europe has taken 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 launched 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 productive activity."

What is worth underlining -according to Mr. Gregoriou- hydrogen is here to exist.

The Advent
Referring to the company Advent Technologies, Mr. Grigoriou said that "it started from some laboratories in Patras. He made some membranes, semiconductors, electrodes, etc. Then we got money from individuals, venture capital in Greece and then abroad and now we are involved in the field of fuel cells. Hydrogen is a sector, we believe in fuel, but also in materialization. We think of new technologies with great performance and life, so you make a product cheaper."

Waiting for the lining for hydrogen cells
Regarding the planned investment in Western Macedonia, Advent's CEO noted that "we are trying to grow and within the framework of the Important Projects of Common European Interest program of the value chain "Hydrogen Technologies and Systems" (IPCEI Hydrogen) we are trying to invest in Greece.

He said: "Every 2-3 years Advent makes great achievements. We started from a start-up and now we are a big company globally. We excelled in Los Alamos. We have ongoing projects with NASA, the US military and the European Space Agency. In Kozani we have plans, in Western Macedonia there is the human resources, we could run the project of global construction and operation of an industrial unit, as well as Research and Development (R&D) facilities for fuel cell production and electrolysis units, in the area of Kozani".

"Of course, in Greece we have long delays. It is a European project and all European aid is EUR 5.4 billion. In Greece we want to bring big players and as Europe estimates there will be an additional €8.8 billion. private expenditure. We have received the largest project of ECU 700 million. in the smallest country. We are waiting to get the contract and we will make the investment. I believe that 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 do not. The company is persistent. In the end we will see if everything was right," he concluded.