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.
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.
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.
Advent Technologies Holdings, Inc.
Elisabeth Maragoula/Michael Trontzos
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
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
Dentalis Animal Health appoints Advisory Board4.2.2023 15:09:00 CET | Press release
Dentalis Animal Health, a company specializing in Oral Health care for companion animals, has announced the appointment of its Advisory Board. Michael Kelly Michael Kelly is an Animal Health Pharmaceutical Industry veteran with broad international business experience. A graduate of Harvard Business School and Cornell University, Michael was hired by Ciba-Geigy to begin his post graduate career in Switzerland. Eventually ending up in the Novartis Animal Health US Division (following the Ciba-Sandoz merger) he rose to CFO and VP of North America. In 2009 Kelly joined Piedmont Animal Health (PAH), a drug development company, and served various roles including CFO, COO and President. During his tenure at PAH the organization received more FDA Companion Animal Drug approvals than any other Company in the Industry. Dr Stephanie Livermore Dr. Stephanie Livermore has been practicing companion animal medicine and surgery since her graduation from the University of Guelph in 2008. Dr. Livermore
Autel Brings MaxiCharger DC Compact to eCarExpo and Signs Partnership Agreement with Leading Charging Operator Eways4.2.2023 09:00:00 CET | Press release
Autel, a leading provider of automotive electronics and diagnostic equipment and tools, exhibited for the first time at eCarExpo, the largest electric vehicles fair in the Nordic countries, on February 3-5, 2023, in Friends Arena, Stockholm. Autel brought its portfolio of products featuring the recently launched electric vehicle charger the MaxiCharger DC Compact. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230204005001/en/ Autel signs partnership agreement with leading charging operator Eways (Photo: Business Wire) As Autel's newly launched DC charger for EVs, the MaxiCharger DC Compact is not only sleek and compact with a 21.5-inch LCD touchscreen, but also powerful enough to provide up to 47kW of power for the European version. Either placed on a pedestal, or set on wheels for ultimate portability, the MaxiCharger DC Compact is perfect for charging operators wanting to provide their customers with a quick charge option
U.S. FDA Approves Takeda’s TAKHZYRO ® (lanadelumab-flyo) to Prevent Hereditary Angioedema (HAE) Attacks in Children 2 Years of Age and Older4.2.2023 00:48:00 CET | Press release
Takeda (TSE:4502/NYSE:TAK) today announced that the U.S. Food and Drug Administration (FDA) has approved the supplemental Biologics License Application (sBLA) for the expanded use of TAKHZYRO® (lanadelumab-flyo) for prophylaxis to prevent attacks of hereditary angioedema (HAE) in pediatric patients 2 to <12 years of age.1 Prior to today’s approval, the only approved routine prophylaxis treatment options for children 6 to <12 years of age required dosing every three to four days,and children with HAE 2 to <6 years of age had no approved prophylaxis treatment, making TAKHZYRO the first prophylaxis treatment for this age group.1-5 The recommended dose is 150 mg/1 mL solution in a single-dose prefilled syringe every four weeks in patients 2 to <6 years of age and every two weeks in patients 6 to <12 years of age.1 HAE attacks can involve serious and debilitating swelling in the abdomen, face, feet, genitals, hands and throat.5,7 Potentially fatal upper airway angioedema has been reported i
SLB Completes Acquisition of Gyrodata Incorporated3.2.2023 22:05:00 CET | Press release
SLB (NYSE: SLB) today announced it has completed the acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions. This combination will improve wellbore quality and reduce drilling risk to unlock even the most remote and complex reservoirs. Integrating three-axis solid state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process—resulting in greater overall drilling efficiency. “I’m excited for this historic moment that will bring innovative solutions to the SLB Well Construction division and our industry,” said Jesus Lamas, president, Well Construction, SLB. “The technology-driven acquisition of Gyrodata is aligned with SL
Gallagher Re Joins ABIR and EY as 2023 Bermuda Risk Summit Headline Sponsors3.2.2023 16:17:00 CET | Press release
The Bermuda Business Development Agency (BDA) is pleased to announce that Gallagher Re has joined the Association of Bermuda Insurers and Reinsurers (ABIR) and EY as headline sponsors of the second annual Bermuda Risk Summit. Adam Schwebach, Executive Vice President, Gallagher Re, said, “Gallagher Re is proud to support the second Bermuda Risk Summit, an annual event that showcases the breadth and versatility of Bermuda’s globally significant risk market. This event serves as a timely opportunity to connect with industry leaders ahead of midyear renewals and we applaud the BDA for their efforts in making the Bermuda Risk Summit a success.” David Hart, BDA CEO, said, “We are just so excited to welcome Gallagher Re as our third and final headline sponsor, along with ABIR and EY. The theme of the 2023 Bermuda Risk Summit, being held from March 6-8, 2023, at the Hamilton Princess & Beach Club is ‘Innovation, Sustainability and Collaboration. We anticipate an even stronger attendance level