Advent’s Methanol-Based Fuel Cell Unit Contributes to a New World Record set by ARM Engineering for Both Electric and Hydrogen-Powered Cars

Rhea-AI Summary

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced its role in a world record for the longest distance covered by a hydrogen vehicle without refueling and an electric vehicle without recharging. This achievement, part of a project by ARM Engineering, involved a Renault Zoe powered by Advent's H3 5000 methanol-based fuel cell. The vehicle traveled 2,055.68 km over 40 hours, surpassing the previous record of 1,360 km. Advent's fuel cell technology showcases advantages like a long operating life and low maintenance costs, highlighting the potential of hydrogen power in transportation.

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• Set a new world record for longest distance traveled by a hydrogen and electric vehicle.
• Demonstrated the efficiency and reliability of Advent's H3 5000 fuel cell unit.
• Highlights the growing potential of hydrogen technology in clean transportation.

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• None.

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent"), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce its contribution to the new world record for the longest distance ever covered by a hydrogen vehicle without refueling and an electric vehicle without recharging. The record was broken within the framework of an innovative project conducted by ARM Engineering, a French based research and development firm focused on providing innovative and sustainable solutions for the mobility market.

Advent’s H3 5000 methanol-based fuel cell unit in action (Photo: Business Wire)

ARM Engineering recently developed renewable synthetic methanol called G-H3, which has, among other features, the ability to power both thermal and electric vehicles, with the latter being powered by a fuel cell. Choosing Advent's methanol-based H3 5000 fuel cell unit as the power source for the electric Renault Zoe, ARM Engineering and its team of highly experienced drivers managed to cover a total of 2,055.68 km (1277.34 mi) over 40 hours while driving at approximately 50 km/h (31 mph), setting the new world records for the longest distance for a hydrogen-powered or an electric vehicle on a single charge or fueling.

The project took place at the Albi circuit in France over the course of three days. As part of the demonstration, five drivers from ARM Engineering drove the modified Renault Zoe non-stop from early morning until midnight, surpassing the previously achieved world record of 1,360 km (845 mi)—proving the reliability and efficiency of hydrogen-powered vehicles.

The H3 5000 fuel cell unit offers key advantages such as a long operating lifetime, low service and maintenance fees, robust functionality, and attractive total cost of ownership.

Dr. Emory De Castro, Advent's Chief Technology Officer, stated, "we are proud to participate in this unique project, and we would like to congratulate ARM Engineering for its well-deserved achievement. This new world record represents a great example of how fuel cells can produce clean and uninterrupted power while replacing the need for conventional fuels. Undeniably, the global hydrogen-powered fuel cell vehicle industry is accelerating at an unprecedented rate, and we at Advent Technologies very much look forward to continuing to be key enablers of this transition."

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220608005639/en/

Advent Technologies Holdings, Inc.

Michael Trontzos / Chris Kaskavelis

press@advent.energy

Source: Advent Technologies Inc.

FAQ

What is the significance of Advent Technologies' recent world record achievement?

Advent Technologies played a crucial role in setting a new world record for the longest distance covered by a hydrogen vehicle and an electric vehicle without recharging, showcasing the capabilities of its H3 5000 fuel cell.

What distance did the hydrogen vehicle travel in the record-setting event?

The hydrogen vehicle covered a distance of 2,055.68 km (1277.34 miles) over 40 hours.

What technology powered the record-setting vehicle?

The vehicle was powered by Advent's H3 5000 methanol-based fuel cell unit.

When and where was the world record for longest distance set?

The record was set over three days at the Albi circuit in France.

What are the advantages of Advent's H3 5000 fuel cell unit?

The H3 5000 offers a long operating lifetime, low service and maintenance fees, and robust functionality.