Advent Systems and Hyundai Motor Business enter into Know-how Assessment, Product sales and Development Agreement

BOSTON, April 06, 2022–(Business WIRE)–Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Corporation”), an innovation-driven chief in the gasoline cell and hydrogen technological know-how sectors, is pleased to announce the signing of a technological know-how evaluation, income, and enhancement arrangement with Hyundai Motor Firm (“Hyundai”), a leading multinational automotive producer giving a variety of world-class vehicles and mobility products and services in around 200 nations.

Advent and Hyundai goal to provide inexperienced vitality solutions to existing significant carbon purposes, working with gasoline mobile technological know-how. Below the arrangement, Hyundai will deliver catalysts to Introduction for analysis in its proprietary Membrane Electrode Assemblies (“MEAs”), when Arrival intends to aid Hyundai in fulfilling its gas cell venture demands, by way of:

  • Acquiring inks and structures using IFAT catalysts, which will then be evaluated by IFAT. Subsequent evaluation, Hyundai will decide whether IFAT or conventional catalysts will be used for this challenge.

  • Giving MEAs through the improvement/commercialization cycle (“Introduction MEAs”) for tests, analysis, and optimization underneath problems set by Hyundai.

  • Helping Hyundai with the use and technical specs of MEAs as properly as their implementation into Hyundai’s styles.

Adhering to the completion of the 1st phase of the venture, the providers will collaborate carefully to set out specific solution prerequisites, collaborative product or service goals, as effectively as milestones for accomplishing set up aims and designs for period 2, which shall also include things like Advent’s stack cooling technologies.

The new Introduction MEAs to be examined by Hyundai are presently becoming designed inside of the framework of L’Innovator, Advent’s joint improvement application with the U.S. Office of Energy’s Los Alamos Nationwide Laboratory, Brookhaven Countrywide Laboratory, and Countrywide Renewable Electricity Laboratory. MEAs are the most vital parts of a gasoline mobile as they greatly define the efficiency, life time, weight, and price of the finish technique.

Introduction MEAs run at a significant temperature (80oC to 240oC) compared to the incumbent small temperature PEM technologies, which is limited to an operating temperature of down below 100oC. The means to function at a substantial temperature confers considerable positive aspects such as the productive warmth removing in heavy-obligation mobility apps, creating Advent’s higher temperature PEM an perfect technological innovation for vans, aviation, and marine programs. Advent’s MEAs can run efficiently with fuels this sort of as impure hydrogen which can be reformed on-board from methanol, purely natural fuel, and other renewable fuels. Advent’s MEAs are also resilient to extreme temperature versions, humidity, and air top quality ailments.

Dr. Emory De Castro, Advent’s Main Technological innovation Officer, said, “We are fired up and happy to be a part of forces with Hyundai, aiming to significantly contribute to their mission and to jointly take part in the pivotal purpose to transition world culture to clear vitality, hence building hydrogen an economically practical energy supply. MEAs form the coronary heart of the fuel mobile and they are also a crucial component for other electrochemistry programs, these kinds of as CO2-totally free hydrogen creation, and, electricity storage. We hope our proprietary MEAs will ideal serve Hyundai’s small business needs and glimpse forward to a lengthy and very productive collaboration, sharing our extended-standing experience to assist Hyundai in bringing its foreseeable future mobility strategy to existence.”

About Advent Technologies Holdings, Inc.

Introduction Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles total gasoline cell units, and the critical components for fuel cells in the renewable strength sector. Arrival is headquartered in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines. With a lot more than 100 patents issued for its gas cell engineering, Arrival retains the IP for upcoming-technology HT-PEM that permits numerous fuels to operate at large temperatures and under excessive disorders – offering a flexible “Any Gas. Any where.” selection for the automotive, aviation, defense, oil and gasoline, maritime, and power era sectors. For additional information and facts, stop by www.introduction.power.

Cautionary Observe Concerning Forward-Wanting Statements

This push launch involves ahead-hunting statements. These forward-wanting statements usually can be identified by the use of terms these kinds of as “anticipate,” “anticipate,” “plan,” “could,” “may well,” “will,” “consider,” “estimate,” “forecast,” “aim,” “project,” and other phrases of comparable indicating. Every single ahead-hunting statement contained in this push launch is subject matter to hazards and uncertainties that could bring about genuine success to differ materially from individuals expressed or implied by these types of statement. Relevant challenges and uncertainties include things like, amid others, the Company’s skill to keep the listing of the Company’s popular stock on Nasdaq potential money performance community securities’ prospective liquidity and investing influence from the result of any recognised and not known litigation capacity to forecast and maintain an sufficient fee of earnings progress and properly strategy its expenditures anticipations relating to future expenditures future combine of profits and result on gross margins attraction and retention of experienced administrators, officers, workers and important personnel skill to compete properly in a competitive marketplace potential to shield and enhance Advent’s corporate name and brand name anticipations about its associations and actions with know-how partners and other 3rd events effects from future regulatory, judicial and legislative modifications to the market capacity to identify and receive complementary technologies or services and combine all those into the Company’s small business upcoming preparations with, or investments in, other entities or associations and extreme opposition and aggressive pressure from other businesses globally in the industries in which the Company will function and the dangers identified below the heading “Danger Components” in Advent’s Annual Report on Variety 10-K/A filed with the Securities and Exchange Fee on May perhaps 20, 2021, as nicely as the other information and facts submitted with the SEC. Traders are cautioned not to place considerable reliance on the forward-wanting statements contained in this push release. You are inspired to browse Advent’s filings with the SEC, readily available at www.sec.gov, for a discussion of these and other hazards and uncertainties. The ahead-wanting statements in this press release converse only as of the date of this document, and the Business undertakes no obligation to update or revise any of these statements. Advent’s business is topic to sizeable hazards and uncertainties, such as all those referenced previously mentioned. Traders, potential investors, and some others ought to give watchful thought to these hazards and uncertainties.

Check out source variation on businesswire.com: https://www.businesswire.com/information/dwelling/20220406005641/en/

Contacts

Advent Systems Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
[email protected]