Advent Technologies Holdings Inc (ADN)

[KJAX]

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. [phone] · [e-mail]

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