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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.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced that an article co-authored by Dr. Emory De Castro has been published in Joule, highlighting advancements in proton conductors for fuel cells used in heavy-duty vehicles. The article discusses the requirements for enhancing chemical stability, conductivity, and thermal stability of these materials under various conditions. De Castro emphasized the significance of Advent’s high-temperature proton exchange membrane technology for fulfilling energy needs across automotive and maritime sectors. The article aligns with Advent's mission of providing flexible fuel solutions.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) reported Q2 2021 financial results showcasing a 400% increase in revenue to $1 million, largely due to heightened customer demand and the acquisition of UltraCell. Gross profit rose to $0.33 million, while operating expenses were $7.2 million, leading to a net loss of $(3.14) million. Cash reserves stood at $116.11 million. The company announced plans to acquire Serenergy and fischer eco solutions, enhancing its footprint in the fuel cell market. Additionally, Advent is collaborating with the U.S. Department of Energy and participated in a major hydrogen project in Greece.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) will release its financial results for Q2 2021 on August 12, 2021, and host a conference call at 9:00 AM ET to discuss the results. Participants can access the call via specific phone numbers provided for both U.S. and international callers. Advent, a leader in fuel cell and hydrogen technologies, holds over 120 patents related to its innovative energy solutions, aiming to offer versatile applications across various sectors.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced that Dr. Vasilis Gregoriou, the Company's Chairman and CEO, will present at the Jefferies Virtual Industrials Conference on August 3, 2021, from 3:00 – 3:25 PM ET. The live webcast will be accessible through the Company’s Investor Relations page, with a replay available afterward. Advent is a leader in fuel cell and hydrogen technology, headquartered in Boston, with over 120 patents for its innovations, notably high-temperature proton exchange membranes enabling versatile fuel applications across various sectors.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) has launched the M-ZERØ™ product line, aimed at generating power in remote areas and reducing methane emissions from oil and gas wellheads. This innovation targets a significant environmental issue, as methane emissions from wellheads contribute to approximately 40 million tons of CO2 annually. The M-ZERØ™ fuel cells, capable of operating in extreme conditions, offer a cleaner alternative to conventional systems. Advent plans to deploy these systems in Canada and the U.S., with further expansion expected upon the acquisition of SerEnergy.
Advent Technologies has been nominated by the Greek Ministry of Development to participate in the Important Projects of Common European Interest (IPCEI) on Hydrogen, taking on the role of Coordinator for Technology Field 2 focused on fuel cells. The company will prepare a joint document outlining fuel cell requirements for mobility and stationary markets. Advent will lead the Green HiPo project, aimed at developing efficient high-temperature fuel cells, creating approximately 1,400 jobs, and supporting Greece's energy transition by decommissioning lignite plants by 2028.
Advent Technologies (NASDAQ: ADN) announced its participation in the DEFEA Defence Exhibition in Athens, Greece, from July 13-15, 2021. The company will showcase its portable fuel cell products, including the UltraCell XX55™, at the USA Pavilion, which features 32 leading U.S. defense firms. Advent's collaboration with the U.S. Department of Defense focuses on using methanol for portable charging solutions, reducing reliance on traditional fuels. UltraCell's innovative products, currently deployed by military agencies, highlight Advent's commitment to green technology and power solutions.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) has appointed Kevin Brackman as the new Chief Financial Officer, reporting to CEO Dr. Vasilis Gregoriou. Brackman brings extensive experience from Myers Industries and Ingersoll-Rand, focusing on financial reporting and internal controls. He aims to support Advent in its acquisitions of Serenergy and fischer eco solutions, enhancing its mission to promote green energy through innovative fuel cell technology. This change comes after the departure of former CFO Bill Hunter, who played a key role during Advent's public market debut.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) has joined ITS mobility, Germany's largest cluster for intelligent mobility. This membership enables Advent to leverage its high-temperature fuel cell technology, which allows vehicles to utilize various zero-emission fuels. ITS mobility comprises over 200 members, focusing on sustainable mobility innovations. CEO Dr. Vasilis Gregoriou expressed excitement about collaborating with industry experts to advance hydrogen and fuel cell technologies. The company, known for its patented HT-PEM technology, aims to contribute to the clean energy transition in the automotive sector.
Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced a definitive agreement to acquire the fuel cell systems businesses of fischer Group for EUR52 million in cash and stock. This acquisition includes Serenergy and fischer eco solutions GmbH, enhancing Advent's capabilities in high-temperature polymer electrolyte membrane (HT-PEM) fuel cells. With thousands of systems shipped globally, Serenergy focuses on the off-grid market, and FES contributes critical component production. The deal is expected to close in Q3 2021, aiming to accelerate Advent's revenue and market share in the alternative power sector.
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