Advent Technologies Commissions Arxicon as Master Planner for RHyno Project
Rhea-AI Summary
Advent Technologies (NASDAQ: ADN) has engaged Arxicon as master planner for the RHyno Project, a facility program that officially commenced on April 1, 2025 and is funded by the EU Innovation Fund. The project covers development and construction of megawatt-scale manufacturing for fuel cells, electrolysers, and Membrane Electrode Assembly (MEA) components.
Key facts: the non-dilutive grant portion awarded to Advent is €34.5 million; Arxicon will provide managerial, architectural and engineering planning for a manufacturing hub in Kozani, Greece; RHyno targets higher power density, longer lifespan, and reduced weight/volume.
Positive
- €34.5M non-dilutive EU Innovation Fund grant
- RHyno officially commenced on April 1, 2025
- Entry into electrolyser sector alongside fuel cells
- Arxicon appointed as master planner for Kozani, Greece manufacturing hub
Negative
- None.
News Market Reaction 13 Alerts
On the day this news was published, ADN declined 8.77%, reflecting a notable negative market reaction. Argus tracked a trough of -16.0% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $975K from the company's valuation, bringing the market cap to $10M at that time.
Data tracked by StockTitan Argus on the day of publication.
LIVERMORE, Calif., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Advent Technologies Holdings, Inc. (NASDAQ: ADN), through its wholly owned subsidiary Advent Technologies S.A., is pleased to announce its official collaboration with Arxicon, a leading Greek engineering and project management firm, for the development of its master plan for the RHyno Project.
The RHyno Project officially commenced on April 1, 2025, and is funded by the EU Innovation Fund. It involves the development and construction of the facility and key infrastructure for manufacturing innovative fuel cells, electrolysers, and their critical components, including Advent’s cutting-edge Membrane Electrode Assembly (MEA) technology, at megawatt scale. RHyno aims to revolutionize clean energy systems by enhancing power density and lifespan, while significantly reducing weight and volume through a streamlined balance of plant. The project will reinforce Advent’s leadership in the fuel cell market and mark its strategic entry into the rapidly evolving electrolyser sector. The total non-dilutive grant portion of the funding to be awarded to Advent for RHyno is
Gary Herman, CEO of Advent Technologies, commented, “We are thrilled to work with Arxicon and have the benefit of its extensive experience and proven track record in delivering complex infrastructure projects across continents. Together, we aim to accelerate the deployment of next-generation hydrogen technologies and contribute meaningfully to Europe’s clean energy transition.”
Savas Ioakimides, CEO, Board of Principals and Founding Partner of Arxicon, added, “We are immensely proud to bring our specialized engineering and consulting expertise to the RHyno Project and partnering with Advent on this landmark initiative. Our role is to provide the managerial, architectural and engineering backbone for this state-of-the-art, efficient and sustainable manufacturing hub in Kozani Greece. We believe this collaboration is a pivotal moment for Greece in taking the lead in Europe’s hydrogen economy, securing its energy independence toward a fully sustainable Type I status.”
Konstantinos Ferderigos, Advent’s General Manager for Greece, commented, “We are excited to join forces with Arxicon on the RHyno Project, a milestone initiative for Greece and Europe’s clean energy future. The project will further Europe’s goal of energy independence and showcase Greece’s growing role in the global clean tech landscape.”
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 Livermore, CA, with offices in Germany, Athens, Kozani and Patras, Greece. With more than 70 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 our website at www.advent.energy
About Arxicon
Arxicon has operated in three continents, together with its partners, joint ventures, and consortiums, providing a full range of services in more than fifteen countries. With over
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 June 6, 2025, 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.
press@advent.energy
FAQ
What did Advent Technologies (ADN) announce about the RHyno Project on October 27, 2025?
When did the RHyno Project begin and what will it produce for ADN (ADN)?
How does the Arxicon partnership affect Advent Technologies (ADN) operations in Greece?
What is the funding structure announced for RHyno and how much is non-dilutive for ADN (ADN)?
What strategic market impact does the RHyno Project have for Advent (ADN)?
