Advent Technologies Participates in the 2nd European Electrolyser Summit
June 27 2023 - 11:57AM
Business Wire
Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or
the "Company"), an innovation-driven leader in the fuel cell and
hydrogen technology sectors, participated in the 2nd European
Electrolyser Summit held in Brussels on June 26. Dr. Vasilis
Gregoriou, Advent’s Chairman and CEO, joined a group of 30 CEOs
representing the European electrolyser manufacturing sector in a
meeting with European Commissioner Thierry Breton. The primary
purpose of the meeting was to discuss and address the objectives
outlined in the Joint Declaration of the May 2022 EU Electrolyser
Summit.
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From left to right: Jorgo Chatzimarkakis
(CEO, Hydrogen Europe), Thierry Breton (European Commissioner for
the Internal Market), Dr. Vasilis Gregoriou (Chairman and CEO,
Advent Technologies)
The meeting, jointly organized by the European Commission and
Hydrogen Europe as part of the Electrolyser Partnership, brought
together approximately 44 companies actively involved in the
European electrolyser supply chain. This partnership, established
in September 2022 following the 1st Electrolyser Summit, witnessed
the signing of the Joint Declaration by 20 industry leaders,
including Advent, and Commissioner Breton.
Following the 2nd European Electrolyser Summit, the industry
remains steadfast in its commitment to achieving the ambitious
goals set out in the REPowerEU communication. The objective is to
accomplish 10 million tons (Mt) of domestic hydrogen production and
import 10Mt of hydrogen by 2030. As part of this commitment, the
industry is planning to significantly increase electrolyser
production in the EU, aiming to ramp-up capacity by a factor of
seven within three years. This will involve scaling-up from the
current 3GW production capacity to approximately 21 GW by 2025.
In a recently published document, the partnership members and
the European Commission provided an update on the progress that has
been made one year after the signing of the Joint Declaration. The
document highlights the industry's continued efforts to expand its
European footprint as the regulatory framework moves closer to
completion. Notable developments include the Renewable Energy
Directive, Delegated Acts on Additionality, and the Hydrogen
Bank.
Dr. Vasilis Gregoriou, Advent’s Chairman and CEO,
commented: "It was an honor to participate in the European
Electrolyser Summit, which showcases Europe's strong commitment to
energy independence and rapid decarbonization through the
scaling-up of electrolyser manufacturing. This summit is a
testament to our collective determination to accelerate the
transition towards a sustainable future. At Advent, we are 100%
committed to contributing to the EU's ambitious goals by
accelerating the implementation of the Green HiPo IPCEI project in
the Western Macedonia region of Greece. Our upcoming
state-of-the-art facility will serve as a hub for the production of
electrolysers and fuel cells, driving technological innovation, but
also fostering economic growth in the region. We are dedicated to
playing a significant role in propelling Europe's journey towards
energy independence and a greener tomorrow."
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,
suitable 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, 2023, 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.
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Advent Technologies Holdings, Inc. Elisabeth Maragoula / Michael
Trontzos press@advent.energy
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