Advent Technologies Moves Forward with €34.5 Million RHyno Project Funded by EU Innovation Fund

Rhea-AI Summary

Advent Technologies (NASDAQ: ADN) is advancing its €34.5 million RHyno Project, funded by the EU Innovation Fund. The company has submitted five deliverables to CINEA since the project's commencement on April 1st, 2025, and is preparing its first Progress Report for September 2025.

The RHyno Project focuses on developing and manufacturing innovative fuel cells, electrolysers, and Membrane Electrode Assembly technology at megawatt scale. Currently in its predesign phase, the project aims to enhance power density and lifespan while reducing system weight and volume. The initiative represents a strategic move for Advent to strengthen its fuel cell market position and enter the electrolyser market.

Positive

• Secured €34.5 million in non-dilutive grant funding from EU Innovation Fund
• Project enables strategic entry into the growing electrolyser market
• Development of innovative technology for enhanced power density and reduced system size
• Project progressing on schedule with 5 deliverables submitted

Negative

• None.

Insights

Clean Energy Funding Specialist

Advent secures €34.5M EU grant for hydrogen tech manufacturing, boosting their revenue outlook and expanding into electrolysers without diluting equity.

Advent Technologies' RHyno Project represents a significant financial catalyst through its secured €34.5 million in non-dilutive EU Innovation Fund grant funding. The critical aspect here is the non-dilutive nature of this capital - shareholders maintain their ownership percentages while the company receives substantial development resources.

The project's scope is strategically comprehensive, focusing on manufacturing infrastructure for both fuel cells and electrolysers at megawatt scale. This signals a calculated market expansion for Advent, particularly their planned entry into the electrolyser market, which represents a natural adjacent growth opportunity leveraging their existing technology expertise in fuel cells.

Progress indicators appear positive with five deliverables already submitted since the April 2025 commencement. The predesign phase and permitting processes are underway, with a master plan draft expected this month. These administrative milestones, while early-stage, demonstrate procedural momentum in project execution.

For investors, this project addresses two critical areas: it provides significant working capital without equity dilution while simultaneously expanding Advent's total addressable market through diversification into electrolysers. This could potentially transform Advent from a focused fuel cell player into a more comprehensive hydrogen technology provider, enhancing their competitive positioning in the broader clean energy sector.

ATHENS, Greece, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, announce today that its wholly owned Greek subsidiary, Advanced Energy Technologies S.A. has submitted five (5) required deliverables to the European Climate, Infrastructure and Environment Executive Agency (CINEA) -since April 1^st 2025 when the RHyno Project officially commenced- and is preparing to submit the first Progress Report in September, covering the initial six months of the €34.5 million RHyno Project.

Dr. Nora Gourdoupi, PhD, Advent’s Senior Vice President for Business Development stated: “At present, Advent is actively engaged in the predesign phase of the facilities, including all necessary procedures for obtaining the required permits. A first draft of the master plan is expected to be completed by the end of September. Additionally, the Advent RHyno Project website has been live since July 2025, providing current updates and information about the project.”

The Advent Renewable Hydrogen Innovative Technologies (RHyno) project involves the establishment of key infrastructure for developing and manufacturing innovative fuel cells, electrolysers, and their key components including Advent’s ground-breaking Membrane Electrode Assembly technology at a megawatt (MW) scale. RHyno aims to pioneer the use of innovative materials to enhance power density and lifespan while significantly reducing the weight and volume of power systems through a streamlined balance of plant. The RHyno project intends to reinforce Advent’s position in the fuel cell market and at the same time, make a strategic entry into the highly evolving electrolyser market. 

The RHyno project officially commenced on April 1st, 2025, and is currently in its sixth month of implementation. Funded by the EU Innovation Fund, the project will provide Advent with a total of €34,534,318 in non-dilutive grant funding over its duration.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is an innovation driven technology company in the fuel cell and hydrogen technology space. The Company’s vision is to accelerate electrification through advanced materials, components, and next-generation fuel cell technology. Our technology applies to electrification (fuel cells) and energy storage (flow batteries, hydrogen production) markets, which we commercialize through partnerships with Tier1s, OEMs, and System Integrators. Advent is headquartered in Livermore, CA, with offices in Athens, Patras and Kozani Greece. With approximately 150 patents issued, pending, and/or licensed for fuel cell technology, Advent also 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.

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 is the total funding amount for Advent Technologies' (ADN) RHyno Project?

The RHyno Project is funded by the EU Innovation Fund with a total of €34,534,318 in non-dilutive grant funding.

When did Advent Technologies' RHyno Project officially start?

The RHyno Project officially commenced on April 1st, 2025 and is currently in its sixth month of implementation.

What is the main purpose of Advent Technologies' RHyno Project?

The project aims to develop and manufacture innovative fuel cells, electrolysers, and Membrane Electrode Assembly technology at megawatt scale, while enhancing power density and reducing system size.

How many deliverables has Advent Technologies (ADN) submitted for the RHyno Project?

Advent Technologies has submitted five deliverables to the European Climate, Infrastructure and Environment Executive Agency (CINEA) since April 1st, 2025.

What is the current status of Advent Technologies' RHyno Project?

The project is currently in the predesign phase of facilities, with the first draft of the master plan expected by the end of September 2025.