Advent Technologies Holdings, Inc. - ADN STOCK NEWS

Advent Technologies reported Q2 2022 revenue of $2.2 million, a 122% year-over-year increase, alongside total income from grants of $0.2 million, summing to $2.4 million. The company incurred a net loss of $11.1 million or $0.22 per share, with cash reserves at $46.5 million. Key developments include notification for €782.1 million funding from the Greek State for the Green HiPo project, partnerships with Hyundai and Safran Power Units, and MOUs with Neptune Lines and Laskaridis Shipping to explore fuel cell applications.

Advent Technologies Holdings, Inc. has signed a Memorandum of Understanding (MoU) with DEPA Commercial S.A., aiming for a strategic collaboration on hydrogen projects in Greece. The MoU outlines a framework for further agreements, including the production of eco-friendly hydrogen fuel and the development of a high-efficiency Combined Heat and Power (CHP) system. This partnership is expected to enhance Greece's energy future and promote hydrogen technologies, contributing positively to the national economy and energy security.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) has fulfilled its first shipment order of the Honey Badger 50™, a compact portable fuel cell system, to the United States Department of Defense via the U.S. Army DEVCOM C5ISR Center. This system, designed for off-grid military and rescue applications, can generate up to 50W of power using biodegradable methanol, ensuring silent operations with clean emissions. With applications expected in various sectors, Advent aims to lead innovation in fuel cell technologies.

Advent Technologies Holdings (NASDAQ: ADN) is set to report its Q2 2022 financial results on August 9, 2022, following the fiscal quarter ended June 30, 2022. The company, known for its innovations in fuel cell and hydrogen technology, will host a conference call at 9:00 AM ET the same day to discuss the results. Interested participants can join via provided dial-ins.

The company emphasizes its extensive portfolio with over 150 patents, focusing on next-generation technologies for varied applications.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announces that Dr. Panoraia ‘Nora’ Gourdoupi has joined its board of directors. Dr. Gourdoupi, a long-time member of Advent since 2006, is currently the Senior Vice President of Corporate Business Development. She played a vital role in the approval of the Green HiPo project, which positions Advent as a leader in green energy technologies. Dr. Gourdoupi takes over the board position previously held by Dr. Christos Kaskavelis, who resigned but continues as the Chief Marketing Officer.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced the official ratification of its Green HiPo project by the European Commission as part of the IPCEI Hydrogen – Technology initiative. This project aims to develop hydrogen technology, receiving up to €5.4 billion in public funding, potentially unlocking €8.8 billion in private investments. Advent is one of eight SMEs included in the initiative, which involves cooperation with over 300 partners across Europe. The initiative is expected to enhance the hydrogen technology value chain and contribute to a greener future.

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.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) is hosting its 2022 Investor Day, highlighting advancements in fuel cell technology and hydrogen projects. The event includes a discussion on the Green HiPo Project, which has €782.1 million in funding from the Greek State for developing HT-PEM fuel cells. Advent's strategic partnerships with the U.S. Department of Energy and Department of Defense were also noted. The company aims to position itself as a leader in the hydrogen economy while showcasing innovations in its products and systems.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced a virtual Investor Day on July 7, 2022, at 9 a.m. EDT. Senior executives will present advancements in fuel cell technology and hydrogen projects across the U.S., Europe, and Asia. The event will include presentations and a Q&A session, accessible via webcast. CEO Dr. Vasilis Gregoriou emphasized the goal of providing insights into market developments in the hydrogen economy. Advent, based in Boston, holds over 150 patents for fuel cell technology and focuses on renewable energy solutions.