Business Wire

Advent Technologies signs Supply Agreement with the German State of Brandenburg for Fuel Cell Systems

Share

Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce the signing of a three-year agreement with the German State of Brandenburg for the supply of methanol-powered fuel cell systems, which will be installed in select critical communication sites in the region.

Advent's methanol-powered fuel cell systems will be used as a back-up power source for Brandenburg's BOS digital radio network, replacing the diesel-driven emergency power systems at several sites over the next three years. Germany's old public safety and security infrastructure relied on an outdated analogue radio system for communication. BOS is a digital, encrypted, and secure means of communication. The new BOS network allows first responders and other public safety officials to communicate easily and securely. The BOS network now covers 99.2% of German territory.

Advent's solution was selected as part of a tender launched by the German State of Brandenburg, which requested that fuel cell and hydrogen technology companies submit proposals for sustainable and reliable emergency power supply solutions. Prior to Advent's selection, the performance of the Company's methanol-powered fuel cells was tested at a site of the BOS digital radio network in Brandenburg, providing further proof of concept for the use of HT-PEM fuel cells as an efficient back-up power source for critical infrastructure applications. Advent's methanol-powered fuel cells deliver reliable power in an environmentally friendly way – reducing CO2 emissions and operating silently – while having a low impact on the surroundings. Methanol, as a carrier of hydrogen, allows simpler storage than pure hydrogen and enhances the safety of operations.

"We are thrilled that the German State of Brandenburg endorses Advent’s products for Brandenburg’s critical communication needs and are confident that Advent’s methanol-powered fuel cell systems will ensure the seamless operation of the entire BOS digital radio network in the region. This new partnership marks a major step towards the wider adoption of HT-PEM fuel cells as a back-up power source in critical infrastructure applications across Europe. We look forward to joining similar projects in the near future,” stated Advent Technologies GmbH Senior Vice President, Daniel Hennig.

"The Advent team is proud and excited to start this new collaboration with the German State of Brandenburg. Now, more than ever, the world needs zero-emission back-up power solutions to ensure a clean and uninterrupted energy supply. Today's agreement is another testament on how Advent’s methanol-powered fuel cells can play a major role in supporting critical infrastructure power requirements around the globe. We look forward to a long and successful collaboration with our new partner," added Dr. Vasilis Gregoriou, Advent Technologies Chief Executive Officer and Executive Chairman of the Board.

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.

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

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

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(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

Adversaries Continue Cyberattack Onslaught with Greater Precision and Innovative Attack Methods according to 1H2022 NETSCOUT DDoS Threat Intelligence Report27.9.2022 12:05:00 CEST | Press release

NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) today announced findings from its 1H2022 DDoS Threat Intelligence Report. The findings demonstrate how sophisticated cybercriminals have become at bypassing defenses with new DDoS attack vectors and successful methodologies. "By constantly innovating and adapting, attackers are designing new, more effective DDoS attack vectors or doubling down on existing effective methodologies," said Richard Hummel, threat intelligence lead, NETSCOUT. "In the first half of 2022, attackers conducted more pre-attack reconnaissance, exercised a new attack vector called TP240 PhoneHome, created a tsunami of TCP flooding attacks, and rapidly expanded high-powered botnets to plague network-connected resources. In addition, bad actors have openly embraced online aggression with high-profile DDoS attack campaigns related to geopolitical unrest, which have had global implications." Deployed in most of the world's ISPs, large data centers, and government and enterprise net

NielsenIQ BASES introduces BASES Creative Product AI, a new way to test, screen and optimize product formulations.27.9.2022 12:00:00 CEST | Press release

NielsenIQ BASES, the global leader in new product and innovation development, is pleased to announce a breakthrough in how products are tested, screened, and optimized using BASES Creative Product AI. BASES Creative Product AI was built using over 100 models and algorithms, creating an artificial intelligence engine that can predict performance and identify new ways to optimize products. The launch of BASES Creative Product AI is a significant step forward in the next generation of tools enabling clients to develop exciting new products for consumers. BASES Creative Product AI was trained using dedicated consumer testing in 35 countries, assessing over 11,000 in-market products to capture consumer liking, sensory profiles, and demographic data. NielsenIQ continues to train BASES Creative Product AI, with new products added to the AI engine weekly. “BASES Creative Product AI is the biggest advancement in product development in over 60 years,” said Chris Sinclair, Global Head of Product

EVER Pharma Launches the User-friendly D- mine ® Pump Generated Report “DATA- mine ® ” to Enhance the Therapy Management of Parkinson’s Patients on Apomorphine27.9.2022 11:30:00 CEST | Press release

After successfully launching the D-mine® Pump, a micro infusion device designed to provide precise continuous subcutaneous drug delivery for PD patients, the product family has been extended to include a comprehensive data history readout. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220915005029/en/ The user-friendly DATA-mine® REPORT (Graphic: Business Wire) EVER Pharma, a specialist in neurology and specialty pharmaceuticals, offers a complete therapy package for PD patients with Dacepton® (Dopaceptin®, Apomorphine hydrochloride), D-mine® Pump, D-mine® Pen and now the DATA-mine® REPORT, a tool to read out the data of the D-mine® Pump. Through this tool the D-mine® Pump history file can be easily transformed into a handy report in PDF format, on Windows or macOS devices allowing Healthcare Professionals to navigate through the various parameters of the infusion therapy like dosing, flow rates, and time settings in easy-t

Entrust Your Home's Hygiene to BioBellinda’s New Probiotic Formula27.9.2022 10:48:00 CEST | Press release

As the pandemic wore on, our hygiene sensitivity increased the time spent cleaning our homes, leading to ever greater use of cleaning materials that contain heavy chemical substances such as bleach and disinfectants. Research reveals that such products can destroy useful probiotics, or beneficial organisms, alongside bacteria, creating clean but unnaturally sterile living spaces. UK research suggests that cleaning products with probiotic properties reduce germs and viruses by up to 80%. Probiotic cleaning products prevent the proliferation of harmful bacteria, mould and viruses by 60%, while reducing infectious diseases by 52%. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220927005589/en/ Entrust your home's hygiene to BioBellinda’s new probiotic formula (Graphic: Business Wire) Explaining that our homes have both harmful and beneficial microorganisms just like the human body, BioBellinda R&D Specialist, Microbiologist Küb

Chicago O’Hare Replaces London Heathrow As No. 1 Most Connected Airport27.9.2022 10:00:00 CEST | Press release

OAG, the world’s leading data platform for the global travel industry, today released Megahubs 2022, the Top 50 most internationally connected airports in the world. Last updated in 2019, Megahubs provides fresh insight into how ongoing travel disruptions are affecting global connectivity. While London Heathrow (LHR) maintained its first-place ranking among European hubs, its global ranking dropped from #1 in 2019 to #22 this year. Paris Charles de Gaulle Airport (CDG) and Frankfurt Airport (FRA) experienced similar drops, falling out of the top 10 to #27 and #30. U.S. airports dominated the global Megahubs, with Chicago O’Hare (ORD; #1), Dallas/Fort Worth International Airport (DFW; #2) and Atlanta Hartsfield-Jackson International Airport (ATL; #3) finishing as the top three most connected airports in the world. Mexico City Juarez International Airport (MEX) is the highest ranked non-U.S. Megahub ranking #8, up 7 spots from its #15 ranking in 2019. “The global market has yet to fully