Advent Technologies Awarded Grant for H2VE Proposal

Rhea-AI Summary

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.

Positive

• Secured €115,437 in grant funding for hydrogen education initiatives

Negative

• None.

Insights

Market Research Analyst

This €115,437 grant for educational initiatives represents minimal financial impact for Advent Technologies, given its market cap and business scope. While the H2VE program demonstrates Advent's commitment to hydrogen technology education and workforce development, the grant's primary purpose for vocational training and networking events doesn't materially affect the company's core business operations or financial outlook. The 48-month program in Western Macedonia may help build local talent pipeline but lacks immediate revenue-generating potential or technological advancement that would interest investors.

LIVERMORE, Calif., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that its H2VE proposal has passed the evaluation process. Advent’s technical team of Anastasia Koutsomitopoulou, Olga Bereketidou, and Nora Gourdoupi made this achievement possible. This grant of €115,437 will be used towards summer school programs, study visits, presentations, workshops, and networking events in the Western Macedonia Region. The program will last 48 months and was submitted under the call, ERASMUS-EDU-2024-PEX-COVE (Centres of Vocational Excellence).

Konstantinos Ferderigos, Advent’s General Manager in Greece, commented, “We are very pleased with this grant award. Our team is committed to fostering its work in hydrogen as well as the next generation of scientists and engineers in this developing sector.” 

About H2VE

H2VE aims to co-create a hub of CoVEs in the Hydrogen Valley sector focused on hydrogen education. This hub will encompass regions with established or emerging Hydrogen Valleys, fostering reciprocal assistance among them in order to promote collaborative learning and sharing of best practices. The Greek CoVE consortium, consisting of Advent (SME), UOWM (VET provider) and CluBE (Industry Representative), will collaborate to advance Hydrogen Valleys in Greece.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation operating in the fuel cell, methanol, and hydrogen technology space. Advent focuses on developing and manufacturing the Membrane Electrode Assembly (MEA) and the fuel cell stack, the most critical component of the fuel cell. Advent is headquartered in California, USA, with offices in Greece, and holds more than 100 patents related to the HT-PEM fuel cell technology. Advent's fuel cells enable the use of green eFuels (eMethanol), renewable natural gas, or hydrogen on board. The HT-PEM fuel cells are highly efficient in terms of thermal management and highly resilient under extreme environmental conditions, offering an "Any Fuel. Anywhere." platform. Applications include stationary, portable, data center, off-grid power generation markets, and heavy-duty mobility (automotive, aviation, marine).

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 on August 13, 2024, 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.

Contacts

Advent Technologies Holdings, Inc.
press@advent.energy

FAQ

What is the value of the grant awarded to Advent Technologies (ADN) for H2VE?

Advent Technologies (ADN) was awarded a grant of €115,437 for the H2VE proposal.

How long will Advent Technologies' (ADN) H2VE program run?

The H2VE program will run for 48 months.

What is the purpose of Advent Technologies' (ADN) H2VE initiative?

The H2VE initiative aims to create a hub of Centers of Vocational Excellence (CoVEs) in the Hydrogen Valley sector, focusing on hydrogen education and fostering collaboration among regions with established or emerging Hydrogen Valleys.