Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

Advent of hydrogen in flights
Dimitris Delevegos
13.11.2023
https://www.ekathimerini.com/economy/1224670/advent-of-hydrogen-in-flights/amp/

When Advent won an international business competition in Athens in 2006, few would have predicted that the company – a spin-off of the Research & Technology Foundation and the University of Patras – would become the protagonist in hydrogen technology.

From 2010 the company expanded to the US by developing hydrogen technology based on materials and equipment that first appeared in the research laboratories in Patra.

Hydrogen is the fuel of the future, experts say. It does not emit carbon dioxide and can serve the goal of decarbonization as, unlike renewables, it does not depend on the intensity of wind potential and the degree of sunshine. Advent creates fuel cells that convert hydrogen into clean electricity and heat via chemical reactions. With aviation gradually shifting to the use of hydrogen, one of Advent’s recent partnerships is with aircraft manufacturer Airbus.

“Airbus is interested in leveraging Advent’s technology, which we believe is the most ideal option for accelerating the decarbonization of aviation. Our collaboration with the French group is expected to start in January 2024, while Airbus estimates that the first test flights will take place in 2026,” explains Advent co-founder, Chairman and CEO Vasilis Gregoriou.