Advent Technologies Holdng Inc Stock Price, News & Analysis

Advent Technologies Holdings, Inc. (NASDAQ: ADN) expressed its support for President Biden's American Jobs Plan, emphasizing its commitment to clean energy and the goal of achieving 100% clean power by 2035. The company is optimistic about the proposed $174 billion investment in the EV market. Advent produces fuel cells that convert hydrogen and renewable fuels into electricity, essential for decarbonizing various sectors. The company is pursuing initiatives such as a new manufacturing facility and collaborations with the U.S. Department of Energy to enhance fuel cell technology.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced that CMO Chris Kaskavelis will speak at the Saudi Energy Meet Virtual Expo on April 8, 2021. The Summit focuses on the future of energy post-COVID-19, highlighting renewable energy goals. Kaskavelis will present Advent’s patented high-temp membrane technology for fuel cells, suitable for various industries including automotive and aviation, emphasizing its robust and cost-effective characteristics in extreme conditions. Registration details for the event are available online.

Advent Technologies Holdings (NASDAQ: ADN) and its subsidiary UltraCell announced that the UltraCell 50 W Reformed Methanol Fuel Cell Power System, known as the 'Honey Badger', has been selected for a demonstration program by the U.S. Department of Defense. This initiative aims to support the U.S. Army's goal of a technology-enabled force by 2028. The Honey Badger is designed for mobility and can operate indoors without harmful emissions, addressing concerns about disposable batteries and traditional generators. The system is set for rapid design improvements over two years based on soldier feedback.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) reported its full-year financial results for 2020, revealing a 42.3% increase in revenue to $882,652, primarily due to rising demand for its Membrane Electrode Assemblies (MEAs). However, total revenues, including grants, fell by 10.8% to $1,089,480. The gross profit saw a significant rise of 65.6% to $368,834, while net loss stood at $4,184,840 with a diluted EPS of ($0.09). Advent projects net cash use between $15 million-$30 million and expenses between $25 million-$40 million for 2021.

Advent Technologies (NASDAQ: ADN) has secured an eight-year lease for 21,401 square feet at Hood Park, Charlestown, MA. This facility will focus on developing high-temperature polymer electrolyte membrane (HT-PEM) fuel cell technology, pivotal for automotive, aviation, and off-grid applications. The facility will feature advanced coating machines, analytical facilities, and numerous fuel cell test stations. CEO Dr. Vasilis Gregoriou highlighted the significant industry interest in HT-PEM technology, aiming for joint development agreements with major OEMs. The new site marks an expansion of Advent’s operations in the Northeast.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) has signed a joint development agreement with the US Department of Energy's Los Alamos, Brookhaven, and National Renewable Energy Laboratories. This CRADA focuses on developing high-temperature proton exchange membrane (HT-PEM) fuel cell technology that allows various fuels, enhancing manufacturing in the sector. The partnership aims to accelerate clean energy solutions for hard-to-decarbonize sectors, with anticipated commercialization of the technology in 2021 and mass production by 2023. The collaboration leverages advanced research facilities to innovate sustainable fuel solutions.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) has entered a joint development agreement with the US Department of Energy's laboratories to advance high-temperature proton exchange membrane (HT-PEM) fuel cell technology. This collaboration aims to innovate fuel cell materials, enabling operations with renewable fuels and reducing infrastructure costs. CEO Vasilis Gregoriou affirmed the company’s intent to bring products to market by early 2022 and achieve mass production by 2023. The partnership leverages extensive research capabilities and aims to enhance fuel cell efficiency while significantly decreasing platinum requirements.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced that Chairman and CEO Dr. Vasilis Gregoriou will virtually ring the Nasdaq Opening Bell on February 26, 2021, to celebrate the company's recent public listing. The event will start at 9:15 AM ET and can be watched live online. Dr. Gregoriou expressed gratitude to employees for their contributions and emphasized the company’s mission to advance advanced materials and fuel cell technology, marking this virtual ceremony as a significant milestone in Advent's growth journey.

Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced its participation in two upcoming conferences aimed at promoting innovation in fuel cell and hydrogen technology.

Conference Details:

• BTIG Energy Transition EV Day: February 23, 2021, at 9:30 AM ET
• 2nd World Hydrogen Summit: March 10, 2021, at 3:15 AM ET

Advent focuses on accelerating electrification through advanced materials and next-generation fuel cell technology, aiming to transform the energy landscape.