Advent Technologies Hosted Virtual 2022 Investor Day Event

Rhea-AI Summary

Advent Technologies Holdings, Inc. (NASDAQ: ADN) held its 2022 Investor Day on July 7, detailing advancements in fuel cell technology and hydrogen projects. Key announcements included Euro 782.1 million funding from the Greek State for the Green HiPo Project aimed at decarbonizing power production. The company also discussed collaborations with major auto manufacturers like Hyundai and initiatives to boost electrolyser manufacturing in the EU. The webcast of the event is now available for on-demand viewing.

Positive

• Received Euro 782.1 million funding for Green HiPo Project to innovate fuel cell manufacturing.
• Entered technology agreements with global automotive manufacturers to advance fuel cell tech.
• Participated in EU initiatives to boost electrolyser manufacturing capacity.

Negative

• None.

The Company’s Investor Day proceedings detailed achievements to-date while providing outlook on product innovation and business development

BOSTON--(BUSINESS WIRE)-- Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology markets, has released the webcast today of its virtual 2022 Investor Day event that was held on July 7, 2022.

During the Investor Day’s proceedings, Advent Technologies’ C-suite executives and senior leaders discussed the Company’s recent innovative advancements of its fuel cell products and systems, hydrogen development projects, and commercial activities in markets across the U.S., Europe, and Asia.

The event encompassed a comprehensive projection of Advent’s strategic growth trajectory, its plans to scale product manufacturing capabilities globally, and how the Company plans to leverage its existing partnerships to evolve its product offerings. Presentations also included an in-depth review of Advent’s key market opportunities across commercial, technology, and operational fronts.

Prior to this event, Advent issued important announcements that were discussed during the course of its virtual 2022 Investor Day:

• Advent Technologies Receives Notification of Euro 782.1 Million Funding from the Greek State for IPCEI Green HiPo Project - June 16: Notification from the Greek State has been sent to the European Union (“EU”) under the IPCEI framework. Upon EU ratification, total funding of euro 782.1 million for Advent’s Green HiPo project will be made available over a period of six years. The scope of Green HiPo is to innovatively manufacture both fuel cell and electrolyser systems to rapidly decarbonize global power production.
• Advent Technologies enters into Technology Assessment Agreement with another Large Global Automotive Manufacturer - May 9: Announced signing of technology assessment agreement with another large global auto manufacturer to support efforts to advance innovative fuel cell technology as a sustainable and efficient option for achieving carbon neutrality.
• Advent Technologies among the Companies to Co-Sign Joint Declaration to Increase Electrolyser Manufacturing Capacities in the European Union - May 6: Announced participation in European Electrolyser Summit where Advent, along with leading European electrolyser manufacturers, co-signed a joint declaration to reach a 17.5 GW electrolyser manufacturing capacity in the EU by 2025, as well as to further increase that capacity by 2030 in line with projected demand for renewable and low-carbon hydrogen.
• Advent enters into Technology Assessment Agreement with Hyundai Motor Company - April 27: Announced signing of technology assessment agreement with Hyundai Motor Company to assess applications of Advent’s proprietary technology in supplying Hyundai’s high-temperature fuel cell needs.
• Advent Technologies Announces New Orders of HT-PEM MEAs by Safran Power Units – April 7: Announced new MEA orders from Safran Power Units, a leader in auxiliary power systems and turbojet engines. The MEAs are based on Advent’s proprietary HT-PEM technology.

More details regarding Advent’s first virtual Investor Day can be found on the Company’s dedicated website page. In addition, the full webcast is now available for on-demand viewing at https://event.on24.com/wcc/r/3815829/BDF38706A8E399AEE45E339A8CD026A2.

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/20220711005521/en/

Elisabeth Maragoula

Advent Technologies Holdings, Inc.

press@advent.energy

Mike Stolyar

Crenshaw Communications

press@advent.energy

Source: Advent Technologies Inc.

FAQ

What did Advent Technologies announce during their Investor Day on July 7, 2022?

Advent Technologies announced advancements in fuel cell technology, received Euro 782.1 million funding for the Green HiPo Project, and entered technology agreements with automotive manufacturers.

How much funding did Advent Technologies receive for the Green HiPo Project?

Advent Technologies received Euro 782.1 million funding from the Greek State for the Green HiPo Project.

Which companies did Advent Technologies sign technology agreements with?

Advent Technologies signed technology agreements with major global automotive manufacturers including Hyundai.

What is the purpose of the Green HiPo Project announced by Advent Technologies?

The Green HiPo Project aims to innovate the manufacturing of fuel cells and electrolyser systems to decarbonize global power production.

Where can I watch the Advent Technologies Investor Day webcast?

The webcast of Advent Technologies' Investor Day is available for on-demand viewing on their dedicated website.