Advent Technologies Reports Fivefold Increase in Bookings and Shipments of Materials for Redox Flow Batteries in Q1
Advent Technologies (NASDAQ: ADN) reported a remarkable 500% year-over-year increase in bookings and shipments of materials for redox flow batteries (RFBs) in Q1 2021. This surge reflects new supply agreements and Advent’s significant input into RFB systems. The company’s materials enhance the cost-effectiveness of utility-scale energy storage and are crucial for addressing renewable energy supply-demand imbalances. Advent is advancing its mass production capabilities and developing cost-efficient electrodes and membranes, critical for the renewable energy sector.
- 500% year-over-year increase in bookings and shipments of materials for RFBs.
- Establishment of new supply agreements.
- Contribution to commercial RFB systems is significant.
- Advanced production capabilities for cost-effective energy storage solutions.
- None.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today reported that bookings and shipments of their materials for redox flow batteries (RFBs) in the first quarter of 2021 rose by 500 percent year-over-year. Advent’s materials apply to renewable energy storage and production, including the membrane electrode assemblies used in high temperature fuel cells.
Dr. Emory DeCastro, Advent Technologies Chief Technology Officer, commented: “Advent’s materials solve critical problems for flow batteries by making utility-scale energy storage devices cost effective. Our tremendous year-over-year increase not only represents the start of new supply agreements, but it is also our most significant contribution into commercial redox flow battery systems to date. The ability to provide increasing quantities of customer-specific components also reinforces our strategy of using Advent manufacturing processes at third party production facilities.”
Advent Materials for Redox Flow Batteries
Advent produces membranes and electrodes for flow battery chemistries that will enable long-term storage of excess power during off-peak periods, and it will address the asymmetry between the demand and supply of solar and wind-generated power. Advent’s membranes for RFBs offer a longer lifetime at a lower cost than typical ion exchange membranes.
Currently, with mass-production capabilities, Advent is developing low cost, high quality electrodes for the leading RFBs chemistries. New membranes from Advent’s participation in the Advanced Research Projects Agency–Energy (“ARPA-E”) program show great potential to lower costs and increase selectivity for the vanadium RFBs. These membranes demonstrate how Advent is able to engineer properties into critical materials for customers.
Benefits of Redox Flow Batteries
RFBs are considered a vital bridging technology for intermittent power generation from renewable sources such as wind and solar. They offer a viable alternative to Lithium-ion batteries (LIBs) for stationary energy storage, especially for extended operation. Since LIBs store all their energy in one package, this leads to some serious safety concerns – especially for the outbreak of highly combustive fires that need highly specialized equipment to contain. On the other hand, RFBs keep the energy in separate tanks that are easy to isolate in the case of a mishap.
RFBs can address a variety of markets that are not appropriate for LIBs. For example, in the case of RFBs, if more energy (kWh) is needed, bigger tanks can be built; and if more power (kW) is needed, a larger stack can be used without changing the tank size.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents (issued and pending) for its fuel cell technology, Advent holds the IP for next-gen high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible ‘Any Fuel. Anywhere’ option for the automotive, maritime, aviation and power generation sectors. www.advent.energy
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