Boston, MA – March 8th, 2022 Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“ or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that, on February 9 in Athens, Greece, its CEO and Chairman of the Board, Dr. Vasilis Gregoriou, participated in an event, organized by the German-Greek Chamber of Industry and Commerce, focusing on the prospects of the Greek–German economic and investment relations.
Featuring a thought provoking panel discussion entitled “The Green Deal at the center of Greek–German economic relations”, other key speakers included Kyriakos Mitsotakis, the Prime Minister of Greece, Dr. Volker Treier, Member of the Executive Board and Chief Executive of Foreign Trade of the Association of German Chambers of Commerce and Industry (DIHK), and Dr. Martin Brudermüller, President of the European Chemical Industry Council (Cefic) and Chairman of the Board of Executive Directors of BASF SE. The panel was coordinated by the Chairman of the Greek-German Chamber, Konstantinos Marangos. Wolfgang Schmidt, Head of the German Federal Chancellery and Federal Minister for Special Tasks, also addressed the event.
In the course of the event, Dr. Vasilis Gregoriou led a guided discussion with Dr. Martin Brudermüller and the Managing Director of BASF Hellas SA, Mr. Vassilis Gounaris. The three high level executives discussed the potential of Advent’s recently announced collaboration agreement with BASF, as well as how – through joining forces – the two companies will play a pivotal role in decarbonizing industries at a pace greatly exceeding any prior efforts.
Advent’s collaboration with BASF will develop advanced fuel cell membranes designed for long-term operations under extreme conditions and increase the manufacturing capacity for such cutting-edge membranes, developments necessary to accelerate decarbonization efforts. At the same time, BASF also intends to improve the long-term stability of its Celtec® membrane and increase its production capacity. This increased supply of the improved Celtec® membrane will in turn lead to improved Advent fuel cell systems and membrane electrode assembly (MEA) products incorporating the next generation technology.
BASF expects to provide key support to Advent’s large-scale Important Projects of Common European Interests (IPCEIs) White Dragon and Green HiPo (each currently pending approval by the European Commission). These two IPCEIs will be powered by Advent’s innovative fuel cell technology. The goal of both IPCEIs is to replace Greece’s largest coal-fired power plants with solar renewable energy parks supported by CO2-free hydrogen production (4.65GW), and fuel cell heat and power production (400MW).
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 190 patents issued and licensed for its 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 “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy
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/A filed with the Securities and Exchange Commission on May 20, 2021, 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.
Contacts
Advent Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
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