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Advent Technologies Holdings, Inc. (NASDAQ: ADN) announces a new $2.8 million contract with the U.S. Department of Defense for the development of the HB50 portable fuel cell system. This contract is in addition to the previous $2.2 million contract announced in September 2023. The HB50 system, fueled by biodegradable methanol, is designed to power communication devices, surveillance systems, and laptops for defense applications. Advent Technologies aims to set new industry standards in fuel cell efficiency, longevity, and power density with this innovative technology.
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Advent Technologies Holdings, Inc. (ADN) has been granted an additional 180-day compliance period by Nasdaq to regain compliance with the minimum bid price rule. The company must meet the $1.00 bid price per share requirement by May 20, 2024, to avoid potential delisting.
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Advent Technologies Holdings, Inc. (NASDAQ: ADN) has received an update from the Greek State regarding the implementation of the Green HiPo IPCEI Hy2Tech project. The Greek State has confirmed its continued commitment to the project, providing a current budget of EUR 60 million, with 40% of that funding as a grant from Greece’s Just Transition Fund. This initial grant will kickstart the successful implementation of the Green HiPo Project, contributing to Europe’s decarbonization and energy independence objectives.
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Advent Technologies Holdings, Inc. (NASDAQ: ADN) announced operational highlights, financial results, and business updates. The company signed a term sheet with Airbus for a joint project using HT-PEM fuel cells in aviation, secured a new supply contract with the U.S. Department of Defense worth $2.2 million, and received a $1.3 million order from a fuel cell integrator in Asia. Advent also unveiled its Serene Power Systems at the 2023 Monaco Yacht Show and continued discussions with the Greek State for state aid funding of its Green HiPo project. The Q3 2023 financial highlights include $1.3 million in revenue and a net loss of $(11.8) million. The company's unrestricted cash reserves were $3.7 million as of September 30, 2023.
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Advent Technologies Holdings, Inc. (NASDAQ: ADN) will release its Q3 2023 financial results on November 14, 2023, and host a conference call the same day at 9:00 AM ET to discuss the results.
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Advent Technologies Holdings, Inc. has partnered with Airbus for a joint benchmarking project on an optimized Ion Pair™ Membrane Electrode Assembly for hydrogen fuel cells. The multi-million dollar collaboration will last for two years and aims to accelerate the development of Advent's MEA. The project will primarily focus on the needs for future hydrogen-fueled planes and has the potential to reduce the weight and volume of powertrain systems.
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Advent Technologies actively participated in the Clean Transition Dialogue on Hydrogen organized by the European Commission. The event focused on the role of hydrogen in Europe's energy independence. Advent's CEO briefed President von der Leyen on the progress of projects endorsed by the EU. The Green HiPo project, which received funding of up to EUR 782.1 million, aims to produce power and green hydrogen through fuel cell and electrolyser systems. Advent Technologies is expected to lead in electrifying commercial ships, trucks, and aircraft.
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Advent Technologies and Technohull collaborate on innovative electric vessel with eMethanol-powered fuel cell systems
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8.93%
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Advent Technologies unveils Serene Power Systems, a clean power solution for marine applications, combining fuel cells and compact battery units. Systems operate on methanol or eMethanol, offering clean and efficient power alternatives. Serene Power Systems can reach up to 85% efficiency and operate in diverse environmental conditions. Advent plans to introduce 100% green eMethanol.
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Advent Technologies secures $2.2 million contract with the U.S. Department of Defense to optimize its portable fuel cell system
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Advent Technologies Holdings, Inc.
Nasdaq:ADN
ADN Rankings
ADN Stock Data
8.32M
52.09M
16.95%
9.47%
3.52%
Optical Instrument and Lens Manufacturing
Manufacturing
United States of America
BOSTON
About ADN
advent technologies is a world leader in the development of high-temperature membrane electrode assembly (mea) technology for use in high-temperature pem fuel cells and hydrogen clean up devices. our materials and components are used to enable clean energy solutions in: • specialty fuel cell applications: military battery rechargers, aerospace, telecom, remote power, hydrogen generation. • drastically improve wind and solar energy storage (redox flow batteries). this is the #1 problem to solve to match production with demand for these sectors. we have also collaborated to deliver solutions in the very important fields of: • home energy: very efficient (>90%) clean electricity and heat from natural gas. over 100,000 of these systems sold. but they are expensive due to platinum. we have managed to make them platinum free. • car/transportation: charge your car in 5 minutes with h2 from natural gas, go 300 miles. it takes hours for an electric car. unlike an electric car fuel cells are tru