Advent Technologies Holdings Inc (ADN)

[WeTheMarket]

Big deal for Greece – In which area will the new fuel cell plant be built?
CAR & MOTOR TEAM
02 JAN 2024
https://www.carandmotor.gr/nea/megalo-deal-ellada-ergostasio-kypselon-kaysimoy

The time for the implementation of the "green" hydrogen production plant in an area of our country is now counting down.

To one of the protagonists in his technology "green" hydrogen Our country will evolve, once the production unit of a new type of fuel cell HT-PEM is implemented on a plot of land in Kozani.

The project – under the name "Green HiPo" – will be carried out in the framework of a bilateral partnership between US-based Advent Technologies and Germany's BASF, with the relevant agreement to be signed in last summer.

In particular, the modern industrial plant to be built in Western Macedonia aims to develop high-temperature proton exchange membrane fuel cells and electrolysis units for the production of electricity and green hydrogen, respectively.

Advent believes that the new type of HT-PEM fuel cells are a superior choice for aviation, heavy trucking, automotive and marine use. Green HiPo has a six-year implementation axis and is expected to create 650 jobs.

"This partnership will enable the combination of Advent's expertise in fuel cell systems with BASF's expertise in catalyst and membrane development, creating a strong synergy that will lead to new innovative solutions in the fuel cell industry," said Dr. Vasilis Gregoriou, President and CEO of Advent Technologies.

Green HiPo is an Important Project of Common European Interest (IPCEI), which, according to recent statements by Mr. Gregoriou, faced delays in 2023, but is now in the final stretch to begin to take shape.

We must not forget that the Ministry of Infrastructure and Transport, in addition to electromobility, focuses on the use of hydrogen as a transport fuel, as it is available and environmentally friendly, while it is estimated that it can cover about 1/3 of the energy consumption of the transport sector in Greece, including shipping.

The Ministry of Infrastructure and Transport has the decisive responsibility for the licensing and operation of fuel stations, which are necessary in order to advance hydrogen power in our country.

Regarding Advent, in 2023 it launched new – and forged existing ones – partnerships with companies leading the clean energy transition, such as Airbus, Siemens Energy and Hyundai Motor Company.