Business Wire

Advent Technologies and the Greek Natural Gas Company, DEPA Commercial, sign MoU to collaborate on Hydrogen Projects

Share

Advent Technologies Holdings, Inc., an innovation-driven leader in the fuel cell and hydrogen technology space, today announced the signing of a Memorandum of Understanding ("MoU") with DEPA Commercial S.A., the leading importer of pipeline gas and liquefied natural gas (“LNG”) in Greece to enter into a strategic collaboration on hydrogen projects of common interest.

The MoU sets out the framework for a forthcoming mutually binding agreement. The parties have preliminarily agreed to the following actions:

  • Collaborate on the production of environmentally friendly hydrogen as a fuel with the participation of other major industrial partners.
  • Co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90% and with multi-fuel operating capabilities (hydrogen, natural gas, efuels) that can address the key current, future, and on-grid, off-grid operation modes and business cases.
  • Create an innovation hub for the Greek hydrogen and fuel cell industry and develop synergies for promoting hydrogen and related technologies.

DEPA’s CEO, Dr. Konstantinos Xifaras, stated: “Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country. DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint. We look forward to working with Advent's team of experts, contributing to the diversification of the national energy mix and the security of the energy supply while simultaneously strengthening the national economy."

Dr. Vasilis Gregoriou, Advent’s Chairman and CEO added: "We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece's energy future. DEPA is a trusted partner with significant experience and a strong presence in the energy sector of South East Europe. We look forward to a long-term cooperation with DEPA in an effort to jointly accelerate Greece's transition to clean energy production and transport and to further strengthen our common presence on the global hydrogen map."

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 fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

About DEPA

DEPA, is the company that introduced natural gas to Greece and one of Greece’s major natural gas utilities, active in the supply, wholesale and trading of natural gas. Having entered into long-term pipeline natural gas and LNG supply contracts, DEPA supports the supply sufficiency and security of the country and at the same time it develops significant initiatives so that Greece can play an essential role as a hub of natural gas transit to Europe from countries with rich natural gas deposits. DEPA holds the position of Co-Chair of one of the six roundtables of the CLEAN HYDROGEN ALLIANCE, set-up by the European Commission and aiming at developing and directing investments to facilitate and implement the EU’s hydrogen strategy via the creation of dedicated “IMPORTANT PROJECTS OF COMMON EUROPEAN INTEREST (IPCEI)”. For more information, visit www.depa.gr

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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Elisabeth Maragoula/Michael Trontzos
Advent Technologies Holdings, Inc.
press@advent.energy

About Business Wire

Business Wire
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

New Study From Egon Zehnder and Kearney Debunks the Myth of a Workplace Generational Divide28.9.2022 16:00:00 CEST | Press release

Egon Zehnder, the world’s preeminent leadership advisory firm, in partnership with Kearney, a leading global management consulting firm, today released findings from a new survey with over 8,000 respondents from eight different countries dismissing the myth of a generation divide in the workplace and showing that despite what is often believed, Gen Z, Millennials, Gen X and Boomers are more alike than different when it comes to workplace matters. The survey, titled “Different Generations, Same Ideals: What Workers of All Ages Value in their Jobs,” analyzed the similarities and differences among generations and found that they share more commonalities, especially when it comes to personal well-being, work-life balance, and desired traits from leadership. The most notable difference between the generations is how each group defines and plans to achieve their career desires. Key Findings from the survey include: Personal well-being, stability, and work-life balance matter more than money

BYD Announces Pre-sale Prices of European Passenger Car Range28.9.2022 15:35:00 CEST | Press release

BYD announces the pre-sale prices of its new European passenger car range. The world’s leading manufacturer of new energy vehicles and power batteries immediately introduces three full-electric passenger vehicles which will be delivered to Norway, Sweden, Denmark, the Netherlands, Belgium, Luxembourg and Germany. Before the end of the year customers in France and the United Kingdom will also have access to BYD’s zero-emission vehicles. After that, more dealers will be appointed supporting BYD’s plans to cover all major markets in Europe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220928005587/en/ BYD Europe Product Premiere 2022 The pre-sale price for the BYD ATTO 3 is € 38,000. The BYD HAN and TANG pre-sale prices are € 72,000. These pre-sale prices apply to Germany as a reference for Europe and may differ from country to country. The three full-electric BYD vehicles are technologically advanced and well-suited to the e

Monrol Will Establish a Legal Entity and Manufacturing Facility in Germany28.9.2022 15:27:00 CEST | Press release

Following an ongoing assessment of its entire operation, Eczacıbaşı-Monrol Nuclear Products Co. (Monrol) has decided to establish a legal entity and manufacturing facility in Germany. The new facility will focus on the manufacture of SPECT products and radiopharmaceutical products for radioligand therapy(*) such as Gallium-68 generator and n.c.a Lutetium-177. Developed by Monrol R&D teams, these products are widely used in the production of radiopharmaceuticals for cancer patients. The facility will also have a dedicated division for state-of-the art cGMP Contract Development and Manufacturing Organization (CDMO) services. Monrol plans to make the site a center of excellence for both radiopharmaceutical production and scientific and industry collaborative efforts to create innovations. The facility is expected to be up and running by 2026 at an estimated cost of around 30 million euros. (*) Targeted radioligand therapy is an innovative approach to cancer treatment that is considered to

Fore Biotherapeutics Announces Fast Track Designation Granted by FDA to FORE8394 for the Treatment of Cancers Harboring BRAF Class 1 and Class 2 Alterations28.9.2022 15:00:00 CEST | Press release

Fore Biotherapeutics (Fore Bio), a precision oncology company dedicated to developing innovative treatments that provide a better outcome for cancer patients, today announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation (FTD) to FORE8934, its investigational, novel, small-molecule, orally available inhibitor for the treatment of patients with cancers harboring BRAF Class 1 (V600) and Class 2 (including fusions) alterations who have exhausted prior therapies. The FDA's Fast Track designation is designed to facilitate the development and expedite the review of drugs intended to treat serious conditions and fill an unmet medical need. A drug that receives Fast Track designation may become eligible for Accelerated Approval, Priority Review, or Rolling Review if relevant criteria are met. “The FDA's Fast Track Designation for FORE8394 underscores the urgent need faced by patients with advanced BRAF-muted cancers who have no other options,” said Stacie

Quectel Announces New SC680A LTE Smart Module to Drive Digital Transformation and Machine Vision AI Applications28.9.2022 15:00:00 CEST | Press release

Quectel Wireless Solutions, a global IoT solutions provider, today announces that it has released its new SC680A smart module which features broad connectivity options including LTE Cat 6, Wi-Fi 802.11ac and Bluetooth 5.0 with powerful system performance and rich multimedia functions. The SC680A smart module is targeted towards mid-tier IoT devices including POS and payment terminals, industrial handhelds for logistics and warehousing, in-vehicle infotainment and dashcam solutions as well as micro-mobility applications and small electric cars. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220928005031/en/ Quectel's new SC680A LTE smart module (Photo: Business Wire) “We are excited to introduce another highly integrated smart module which gives global customers more flexibility in their IoT device designs,” said Norbert Muhrer, President and CSO of Quectel. “It enables a variety of industrial and consumer IoT verticals with

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