Advent Technologies Holdng Stock Price, News & Analysis

Advent Technologies Holdings, Inc. (ADN) is a U.S. corporation focused on fuel cell and hydrogen technology. According to the company’s own descriptions in recent disclosures and news releases, Advent develops, manufactures, and assembles complete fuel cell systems and also supplies customers with critical components for fuel cells in the renewable energy sector. The company is headquartered in Livermore, California, with offices in Athens, Patras and Kozani in Greece, and, in some disclosures, Germany. Its work centers on high-temperature proton exchange membrane (HT-PEM) fuel cell technology and related components.

Advent reports that it holds the intellectual property for next-generation HT-PEM technology. This technology enables various fuels to function at high temperatures and under extreme conditions. The company states that these characteristics make its technology suitable for use in the automotive, aviation, defense, oil and gas, marine, power generation, and energy storage sectors. Advent’s patents and licenses cover materials and components that are used in fuel cells and in applications such as flow batteries and hydrogen production.

Core technology and products

A central element of Advent’s business is its proprietary Membrane Electrode Assembly (MEA) technology, including its Ion Pair™ MEA. Company materials describe this as a next-generation component for HT-PEM fuel cells that is designed to increase power density, extend lifetime, and reduce space and weight requirements for power systems. Advent supplies MEAs to customers such as fuel cell system manufacturers and transportation power companies, and integrates MEAs into its own fuel cell systems.

Advent indicates that its technology is applied both to electrification (through fuel cells) and to energy storage (through flow batteries and hydrogen production). Its fuel cell systems and components are positioned for use in off-grid and backup power, transportation and propulsion, portable power, and other applications where high-temperature operation and compact, efficient thermal management are important.

Applications and end markets

Based on the company’s published descriptions, Advent targets multiple high-performance sectors:

• Aviation and aerospace: Advent collaborates with aerospace companies, including Airbus and Stralis Aircraft, on HT-PEM fuel cell technology for hydrogen-electric propulsion and electric flight. The company highlights that operating at higher temperatures allows aircraft powertrains to be cooled with smaller, lighter radiators, which can reduce weight and aerodynamic drag.
• Defense and security: Advent has developed portable fuel cell power units, such as the Honey Badger 50™ (HB50), under contracts with the U.S. Department of Defense and the U.S. Army. The company describes these systems as portable fuel cell products intended to support demanding mission requirements for defense and homeland security users.
• Marine and maritime: Advent presents its HT-PEM components as relevant for marine applications, including onboard ship power. The company has discussed its technology in the context of international efforts to reduce greenhouse gas emissions from ships.
• Transportation and mobility: Advent states that its technology is suitable for automotive and heavy-duty mobility applications, and it has reported orders from a European transportation power company for MEAs.
• Off-grid and backup power: Through supply agreements with companies such as Siqens GmbH, Advent’s MEAs are integrated into fuel cell systems used for off-grid and backup power, including telecommunications, emergency power, and remote infrastructure.
• Space sector: Advent reports work with the European Space Agency on a closed-loop regenerative HT-PEM fuel cell system intended to provide power when solar-based systems are insufficient, such as on the dark side of planetary orbits.

Research, intellectual property, and partnerships

Advent emphasizes its patent portfolio and licensing arrangements as a key asset. In various company descriptions, Advent notes that it has more than 70, and in some cases approximately 150, patents issued, pending, and/or licensed for fuel cell technology. The company holds exclusive licenses from Los Alamos National Laboratory for the Ion Pair™ MEA technology in sectors such as aviation and maritime, and it has reported using this technology in both portable power and aerospace projects.

The company also participates in large-scale funded projects. For example, Advent’s Greek subsidiary is leading the RHyno Project, funded by the EU Innovation Fund. According to Advent’s disclosures, RHyno involves developing and constructing facilities and infrastructure for manufacturing innovative fuel cells, electrolysers, and their key components, including Advent’s MEA technology, at megawatt scale. The project aims to enhance power density and lifespan of systems while reducing weight and volume through a streamlined balance of plant, and to support Advent’s entry into the electrolyser market.

Corporate structure and capital markets

Advent Technologies Holdings, Inc. is the public holding company for the Advent group of entities, including its Greek subsidiary Advanced Energy Technologies S.A. and Advent Technologies S.A. The company’s common stock has traded under the symbol ADN and its public warrants under ADNWW. SEC filings show that Advent has used instruments such as equity purchase agreements and convertible promissory notes to raise capital, including transactions with Hudson Global Ventures LLC.

In October 2025, The Nasdaq Stock Market LLC notified Advent that it would commence proceedings to delist and suspend trading in the company’s common stock and warrants due to non-compliance with Nasdaq Listing Rule 5550(b)(1). An 8-K filing states that trading on Nasdaq was scheduled to be suspended as of October 30, 2025, and that Nasdaq would apply to the U.S. Securities and Exchange Commission to delist the securities upon completion of applicable procedures. The same filing notes that the common stock and public warrants are expected to continue trading on the OTC market under the symbols “ADN” and “ADNWW.”

Regulatory and governance disclosures

Advent’s SEC filings include proxy statements, current reports, and registration statements that describe its governance, shareholder matters, and financing arrangements. The company’s definitive proxy statement for its 2025 annual meeting outlines proposals related to director elections, auditor ratification, stock issuance under an equity purchase agreement, amendments to an incentive plan, and advisory votes on executive compensation and the frequency of such votes.

Other 8-K filings detail Advent’s entry into and repayment of loans, issuance of pre-funded warrants, and responses to Nasdaq listing notices. A Form 12b-25 (NT 10-Q) explains that the company required additional time to complete the final review of its financial statements and other disclosures for a quarterly report.

Business context

Across its disclosures and news releases, Advent describes itself as an innovation-driven technology company in the fuel cell and hydrogen technology space. Its stated vision is to accelerate electrification through advanced materials, components, and next-generation fuel cell technology, and to commercialize this technology through partnerships with Tier 1 suppliers, original equipment manufacturers (OEMs), and system integrators. The company positions its HT-PEM technology and MEA components as enabling clean power solutions in demanding environments and sectors where high energy density, compact systems, and challenging operating conditions are important.

Status of the ADN ticker

Based on the company’s 8-K filings, Nasdaq has determined to delist Advent’s common stock and warrants from its exchange and to suspend trading there, with trading suspension effective as of October 30, 2025. The same filings state that the securities are expected to trade on the OTC market under the same symbols. These filings do not state that the company has ceased operations; they describe a change in listing venue and ongoing corporate and financing activities.