Advent Technologies Completes Fuel Cell Project for the European Space Agency
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced the successful completion of a research and development project commissioned under a programme of and funded by the European Space Agency (“ESA”), dedicated to the development of a closed-loop regenerative fuel cell system (“RFCS”) earlier this year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221205005299/en/
The project started in 2014, with Advent as the prime contractor. Subcontractors included the Centre for Research and Technology – Hellas, the Foundation for Research and Technology – Hellas, and the University of Patras. The project concluded with the successful delivery of the high-temperature proton exchange membrane (“HT-PEM”) stack to ESA.
During a highly successful testing phase, the RFCS demonstrated its ability to effectively meet the power demands for three lunar day and night cycles. Due to their high specific energy density, closed loop RFCS are gaining recognition as a promising technology for space applications that require large amounts of energy to be stored in order to survive long eclipse durations.
The RFCS that was developed for this project consisted of Advent’s advanced HT-PEM fuel cell stack, a high pressure-PEM electrolyser, and a storage system for reactants. The system was also equipped with Advent’s proprietary thermal-management sub-system, which can be seamlessly integrated into thermal management systems for spacecraft and readily adapted for other processes requiring high quality heat.
The fuel cell stack utilizes Advent’s current polybenzimidazole-based Membrane Electrode Assemblies (“MEAs”), the same MEAs used in both Advent’s existing product portfolio (including SereneU, Honey Badger 50™, and M-ZERØ™) and licensed in 3rd party products. In a space mission utilizing an RFCS, a high pressure-PEM electrolyser utilizes solar power to convert water into hydrogen and oxygen, which are then stored and later used to feed the fuel cell stack, generating electrical power while producing water and heat as a byproduct.
Dr. Emory De Castro, Chief Technology Officer of Advent Technologies Holdings, Inc., stated, “We are delighted with the successful completion of this highly innovative project with ESA, which demonstrates how well Advent’s proprietary technology can support satellites and other space missions, as well as a wide range of aerospace, marine, and terrestrial applications. We look forward to joining similar projects in the near future.”
Brandon Buergler, the ESA technical officer of the activity said: “The development of new energy storage technologies with higher specific energy than conventional Li-ion batteries is needed for enabling new space missions comprising for example the lunar night survival of a lunar lander’s critical elements.”
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/or 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 fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
About ESA
The European Space Agency is Europe’s gateway to space. Its mission is to shape the development of Europe’s space capability and ensure that investment in space continues to deliver benefits to the citizens of Europe and the world.
ESA is an international organisation with 22 Member States. By coordinating the financial and intellectual resources of its members, it can undertake programmes and activities far beyond the scope of any single European country.
https://www.esa.int/About_Us/Corporate_news/ESA_facts
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.
Disclaimer: The view expressed herein can in no way be taken to reflect the official opinion of the European Space Agency.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221205005299/en/
Contact information
Advent Technologies Holdings, Inc.
Elisabeth Maragoula/Michael Trontzos
press@advent.energy
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Daiichi Sankyo Shines a Light on Inequalities and Unmet Needs in Care as Part of Its Commitment to People With Cardiovascular Disease31.8.2024 17:00:00 CEST | Press release
Daiichi Sankyo Europe, (hereafter, Daiichi Sankyo) today announced its reinforced commitment to addressing key unmet needs and barriers in cardiovascular (CV) care, by shining a light on inequalities in treatment and outcomes experienced by various patient groups. The announcement follows the presentation of data from sub-analyses of the SANTORINI observational study and ETNA-AF (Edoxaban Treatment in routiNe clinical prActice in patients with nonvalvular Atrial Fibrillation) study programme, at the European Society of Cardiology (ESC) Congress 2024. Gender inequalities in CV disease treatment and LDL-C goal attainment Raised low-density lipoprotein cholesterol (LDL-C) is a key modifiable contributor to risk of cardiovascular major events. It has been shown that for every 1 mmol/L reduction in LDL-C, there is a 22% reduction in major cardiovascular events after 1 year.7,8 Female patients in Europe who are at high or very high CV risk were undertreated and less achieved guideline-recomm
Suzano completes purchase of 15% stake in Lenzing AG31.8.2024 00:40:00 CEST | Press release
Suzano, the world's largest pulp producer, today announces the completion of its acquisition of a 15% stake in Lenzing AG, the Vienna-listed leading global supplier of sustainable premium cellulosic fibres for the textile and non-wovens industry, from B&C Group. As announced in June this year, the transaction value is EUR 230 million (or EUR 39.70 per share). The agreement was subject to regulatory approval, which was granted without restrictions. The long-term partnership between Suzano and B&C Group establishes that Suzano has the right to hold two seats on Lenzing’s Board and the option to acquire an additional 15% stake from B&C Group until the end of 2028. Following the sale of the 15% stake, B&C Group now holds 37.25% of Lenzing’s share capital. Lenzing is a leading global supplier of premium wood-based cellulosic fibers (lyocell, modal, and viscose) for the production of clothing, home textiles, hygiene products, and non-woven materials. Beto Abreu, CEO of Suzano, said: “Lenzing
Ant International Collaborates with Brazilian Partners to Drive Financial Inclusion with Innovative Credit Tech Solutions30.8.2024 20:46:00 CEST | Press release
Ant International, a digital payment and financial technology leader, today announced its strategic initiative to provide AI-driven credit technology solutions designed to empower local partners and advance financial inclusions in Brazil. As a major milestone, Ant International has formed a strategic partnership with Dock, a leader in payments and banking technology in Latin America. This collaboration aims to enhance the credit management capability and infrastructure efficiency for Dock’s clients, which include financial institutions, retailers, fintech start-ups, etc. The shared vision is to make credit services more inclusive for market segments that are currently insufficiently served, such as micro, small and medium-sized enterprises (MSMEs). In the initial phase of the collaboration, Ant International’s AI-driven credit tech solutions, including an automated and intelligent risk management engine, will be explored for integration into Dock One platform. This initiative aims to s
Wipro Appoints Srikumar Rao as Global Head of Its Engineering Edge Business Line30.8.2024 16:20:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced the appointment of Srikumar Rao as Global Head of its Engineering Edge Business Line, effective from October 5, 2024. Srikumar succeeds Harmeet Chauhan, who is stepping down to pursue opportunities outside the organization. Srikumar will report to Srini Pallia. Srikumar has been with Wipro for 26 years and has grown with the organization, serving in various leadership roles. He was most recently the Chief Operating Officer (COO) of Wipro Engineering Edge (WEE) and Global Practice Head of Embedded Systems. His work has spanned several markets, selling and delivering specialized Engineering, Research, and Development (ER&D) services to Software & Internet, Semiconductor, Automotive, Manufacturing, and Communications clients. In his new role, Srikumar will continue to scale and strengthen Wipro’s engineering prowess. He will also be responsible for defining the vision
Alnylam Presents Detailed Results from the Positive HELIOS-B Phase 3 Study of Vutrisiran▼ in Patients with ATTR Amyloidosis with Cardiomyopathy at the European Society of Cardiology Congress30.8.2024 12:00:00 CEST | Press release
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced detailed results from the HELIOS-B Phase 3 study of vutrisiran, an investigational RNAi therapeutic in development for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM). The data were presented today in a Hot Line session at the European Society of Cardiology (ESC) Congress 2024, taking place August 30-September 2 in London, United Kingdom. Results from the HELIOS-B study were also simultaneously published in TheNew England Journal of Medicine. As previously reported, the HELIOS-B study met all 10 of its primary and secondary endpoints, across both the overall and monotherapy populations, with statistical significance. Enrolled patients were predominantly New York Heart Association (NYHA) Class I or II with wild-type disease and had been diagnosed by non-invasive methods, with substantial concurrent treatment with available standard of care treatments such as tafamidis and
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom