Boston, MA – April xx, 2022 – 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 that its Chairman & CEO, Dr. Vasilis Gregoriou, represented the Company at the Delphi Economic Forum VII: New Realities, which took place between April 6-9, 2022, in the ancient town of Delphi, Greece.
Dr. Gregoriou participated as a speaker in the panel “Can Hydrogen empower the energy transition”, along with Alexandra Sdoukou (Secretary-General, Energy & Mineral Resources, Ministry of Environment & Energy), Nikos Tsafos (Chair, Energy & Geopolitics, Energy Security & Climate Change Program, CSIS, USA), and Maria Rita Galli (CEO, DESFA). The session was chaired by George Fintikakis (Editor in Chief, Liberal.gr).
The discussion covered a wide range of topics, including:
- European hydrogen strategy and plans to enable the faster penetration of hydrogen technologies across industries
- E.U.’s timeline for developing an institutional framework concerning the purchase, distribution, supply, marketing, and use of hydrogen by households and businesses
- The goals of the REPower E.U. plan and how it can accelerate the deployment of innovative hydrogen-based solutions and cost-competitive renewable electricity in industrial sectors
- Greece’s position on the global hydrogen map and progress updates on the Important Project of Common European Interest (“IPCEI”) White Dragon Project (currently pending E.U. approval). If approved, the project will prominently feature Advent’s innovative fuel cell technology
Dr. Gregoriou stressed the great potential that green hydrogen holds for ensuring an environmentally cleaner and sustainable future for the planet, highlighting its ability to achieve true net-zero emissions and provide low-cost renewable electricity to billions of people. Referring to the current surge and volatility in energy prices, Dr. Gregoriou stated that the production cost of hydrogen is now competitive with fossil fuels and will decrease further.
Regarding Greece’s energy future, Dr. Gregoriou expressed the belief that the local production of green hydrogen can fill the energy gap by enhancing environmental protection and ensuring energy self-sufficiency. He described how the country’s favorable weather conditions make it a perfect fit for the production of green hydrogen and discussed the role of eFuels in accelerating decarbonization across industries through the utilization of existing flexible distribution networks.
Following the Prime Minister Kyriakos Mitsotakis on the highly strategic importance of the White Dragon project – an innovative integrated green hydrogen project in Greece– Dr. Gregoriou outlined the significant steps that have been made in the last year. Both government and private sector energy companies have demonstrated their commitment to decarbonizing power production rapidly.
The Greek government approved the White Dragon project as part of the first wave of the IPCEI projects. The White Dragon project is currently pending E.U. approval and is set to replace Greece’s largest coal-fired plants with renewable solar energy parks, supported by green 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 100 patents issued and licensed for its fuel cell technology, Advent holds the I.P. 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.
Advent Technologies Holdings, Inc.
Michael Trontzos / Chris Kaskavelis