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Advent Technologies Holdings, Inc. - ADN STOCK NEWS

Welcome to our dedicated page for Advent Technologies Holdings news (Ticker: ADN), a resource for investors and traders seeking the latest updates and insights on Advent Technologies Holdings stock.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) is a pioneering company excelling in the fuel cell and hydrogen technology sectors. Headquartered in Boston, Massachusetts, Advent develops, manufactures, and assembles complete fuel cell systems and critical components essential for the performance of hydrogen fuel cells and other energy systems. The company's innovations serve various industries including automotive, aviation, defense, power generation, and marine.

Advent specializes in high-temperature membrane electrode assembly (MEA) technology used in high-temperature PEM fuel cells and hydrogen cleanup devices. Their advanced materials and components facilitate clean energy solutions in specialized applications such as military battery rechargers, aerospace, telecom, remote power, and hydrogen generation. Additionally, the company offers solutions improving wind and solar energy storage through redox flow batteries, addressing the critical issue of matching production with demand in these sectors.

Recent achievements include the unveiling of the SereneP product line, which provides versatile power solutions for construction sites and EV charging applications, reducing CO2 emissions by up to 100% with eFuel use. Advent has also made significant strides in the home energy sector by creating highly efficient, platinum-free clean electricity and heat systems from natural gas, with over 100,000 systems sold.

Advent collaborates with industry leaders and institutions globally, including a recent joint development agreement with Siemens Energy. They aim to develop a 500kW HT-PEM fuel cell solution for maritime applications. Their commitment to innovation is further demonstrated by securing funding for the RiverCell 3 project and the Green HiPo IPCEI project, aiming to transition regions from coal-based economies to greener models.

Emphasizing sustainability, Advent’s HT-PEM fuel cells enable the use of various fuels at high temperatures and under extreme conditions, driving the future of clean energy. The company holds over 150 patents, showcasing its dedication to technological advancements and environmental responsibility.

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Advent Technologies (NASDAQ: ADN), a leader in fuel cell and hydrogen technology, announces its support for the Wounded Warrior Project. The company specializes in clean energy technology solutions, collaborating with key institutions including the U.S. Army, Department of Defense, Los Alamos National Laboratories, Brookhaven Labs, and NASA. Advent develops portable power solutions for military and civilian applications, including electronics and drones. The partnership aims to support warriors and their families in their recovery journey and workforce reintegration.

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Advent Technologies (NASDAQ: ADN) has secured a €115,437 grant for its H2VE proposal, which passed the evaluation process under the ERASMUS-EDU-2024-PEX-COVE program. The 48-month initiative aims to establish a hub of Centers of Vocational Excellence (CoVEs) in the Hydrogen Valley sector, focusing on hydrogen education.

The grant will support summer school programs, study visits, presentations, workshops, and networking events in the Western Macedonia Region. The Greek CoVE consortium includes Advent, UOWM, and CluBE, working together to advance Hydrogen Valleys in Greece.

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Advent Technologies (NASDAQ: ADN) announces the return of George Paloumpis as Chief of Operations at its Patras, Greece facility. Paloumpis, who previously served as Director of Manufacturing and spent almost 18 years with the company, brings significant experience to support the new management team's execution plans. The appointment is part of Advent's strategic initiative, dubbed 'Advent 2.0', focusing on the company's innovative fuel cell technology development.

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Advanced Energy Technologies S.A., a wholly-owned subsidiary of Advent Technologies Holdings (NASDAQ: ADN), has appointed three new members to its Board of Directors. The new directors are Konstantinos Ferderigos, Advent's Global IT Director and Greece Operations General Manager; Dimosthenis Dimopoulos, Head Lawyer of Dimosthenis Dimopoulos & Associates Law Office; and Vasilis Bournas, founder and CEO of B&S Consulting. Ferderigos brings expertise in IT, AI, and cybersecurity, Dimopoulos contributes 40 years of corporate and tax law experience, while Bournas adds financial consulting and business advisory expertise.

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Advent Technologies (NASDAQ: ADN) has secured a €34.5 million grant from the EU Innovation Fund for its RHyno Project. The grant was awarded to Advent's Greek subsidiary, Advanced Energy Technologies, SA, following approval for the full requested amount. The company will now proceed with preparing the grant agreement according to guidelines from the European Climate, Infrastructure and Environment Executive Agency (CINEA).

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Advent Technologies Holdings' Greek subsidiary, Advanced Energy Technologies SA, has secured a grant from the EU Innovation Fund for the RHyno Project. The fuel cell and hydrogen technology company has been invited to prepare the grant agreement, with signing expected in Q1 2025. Further details about the grant conditions will be disclosed by the company in the near future.

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Advent Technologies (NASDAQ: ADN) announced significant management changes, removing Chairman and CEO Vasilis Gregoriou and Chief Strategy Officer Chris Kaskavelis. Gary Herman has been appointed as Interim CEO, highlighting the company's untapped potential in clean energy solutions. The company also appointed Konstantinos Ferderigos as General Manager for Greek Operations and Dr. Steven Rock as the new Chief Strategy Officer. The restructuring aims to strengthen Advent's position in HT-PEM fuel cell technology and global decarbonization initiatives across multiple industries including aviation, automotive, marine, telecom, and military sectors.

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Advent Technologies Holdings, Inc. (NASDAQ: ADN) has announced significant breakthroughs in its Membrane Electrode Assembly (MEA) technology. The Advent MEA G2 technology, developed in collaboration with U.S. Department of Energy laboratories, has achieved:

1. 2.5x Power Density vs. Legacy MEAs, operating at 0.35W/cm2 compared to 0.14W/cm2.
2. Significant Potential for Lifetime Improvement, with 4x slower degradation and 25-fold improvement in start-up/shut-down stability.
3. Superior Heat Rejection and Management Properties, surpassing the U.S. DoE heat rejection goal with ΔQ/T of 1.1 kW/°C.

The technology enables the use of green eFuels and is being tested by strategic partners in the automotive and aerospace industries. Advent aims to enable OEMs to manufacture fuel cell systems using eFuels like eMethanol for a capex cost below $0.1/kWh.

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Advent Technologies Holdings, Inc. (NASDAQ: ADN) reported Q1 2024 financial results, highlighting:

  • Revenue of $3.5 million and income from grants of $1.4 million, totaling $4.9 million
  • Operating expenses decreased by $3.3 million year-over-year to $8.3 million
  • Net loss of $(9.4) million or $(3.62) per share
  • Unrestricted cash reserves of $0.8 million as of March 31, 2024

The company continued work on projects with Airbus, the U.S. Department of Defense, and major automotive manufacturers. Advent is focusing on developing and manufacturing its MEA technology for HT-PEM fuel cells, aiming to achieve 3x power density and lifetime performance improvements. The company is streamlining operations to reduce costs and seeking partnerships with OEMs to accelerate market adoption of its technology.

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Advent Technologies Holdings, Inc. (NASDAQ: ADN) reported Q2 2024 financial results, highlighting operational progress despite financial challenges. Key points include:

- Revenue of $0.8 million and grant income of $0.7 million, totaling $1.5 million
- Operating expenses decreased by $1.2 million year-over-year to $10.0 million
- Net loss of $(11.3) million or $(4.28) per share
- Unrestricted cash reserves of $0.7 million as of June 30, 2024

The company continued work on projects with Airbus, U.S. Department of Defense, and major automotive manufacturers. Advent is focusing on developing its MEA technology to improve performance and reduce costs. A 1-for-30 reverse stock split was implemented to regain Nasdaq compliance and attract investors.

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FAQ

What is the current stock price of Advent Technologies Holdings (ADN)?

The current stock price of Advent Technologies Holdings (ADN) is $4.39 as of December 23, 2024.

What is the market cap of Advent Technologies Holdings (ADN)?

The market cap of Advent Technologies Holdings (ADN) is approximately 11.7M.

What does Advent Technologies Holdings, Inc. specialize in?

Advent Technologies specializes in developing, manufacturing, and assembling complete fuel cell systems and critical components for hydrogen fuel cells and other energy systems.

What are some of the key applications of Advent's technology?

Advent's technology is utilized in military battery rechargers, aerospace, telecom, remote power, hydrogen generation, and improving wind and solar energy storage with redox flow batteries.

What recent products has Advent Technologies launched?

Advent recently introduced the SereneP product line, which provides portable power solutions for construction sites and EV charging applications, significantly reducing CO2 emissions.

How is Advent Technologies contributing to the home energy sector?

Advent has developed highly efficient, platinum-free clean electricity and heat systems from natural gas for home energy, with over 100,000 systems sold.

What notable collaborations has Advent engaged in?

Advent has partnered with Siemens Energy to develop a 500kW HT-PEM fuel cell solution for maritime applications, and it actively participates in projects like RiverCell 3 and Green HiPo IPCEI.

What are the environmental benefits of Advent's SereneP product line?

The SereneP product line offers up to 100% reduction in CO2 emissions with eFuel use, making it a highly eco-friendly power generation solution compared to traditional fossil fuel sources.

Where is Advent Technologies headquartered?

Advent Technologies is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines.

How many patents does Advent Technologies hold?

Advent Technologies holds over 150 patents, reflecting its commitment to innovation in fuel cell technology.

What recognition has Advent Technologies received for its projects?

Advent's Green HiPo project received funding approval from the Greek Ministry of Economy and Finance, and the RiverCell 3 project is partially funded by the German Federal Ministry for Digital and Transport.

What steps is Advent taking to comply with Nasdaq listing requirements?

Advent is executing a 1-for-30 reverse stock split to meet Nasdaq's $1.00 per share minimum bid price requirement and plans to file its Annual Report and quarterly reports to regain compliance with SEC reporting obligations.

Advent Technologies Holdings, Inc.

Nasdaq:ADN

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16.64%
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5.53%
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