Advent Technologies - Efficient Fuel Cells of the Future

Advent manufactures HT-PEM fuel cells that convert hydrogen and other renewable fuels into electricity.

Founded: 2018, Patras, Greece.
Headquarters located in: Boston, Massachusetts

Advent has created highly efficient fuel cells that operate in extreme temperatures, humidity, and air quality. More importantly, Advent’s fuel cells are multi-fuel capable (hydrogen, e-methanol, e-fuels, natural gas), which means they work with hydrogen as it comes in many different forms, eliminating the need for complex hydrogen infrastructure.

Currently over 190 granted, licensed, or pending patents.
Over 100 patents have been granted for Advent’s fuel cell technology, and it owns the IP rights for next-generation HT-PEM, which allows different fuels to operate at high temperatures and in extreme conditions – providing a flexible “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors.

Products:
Fuel cells: Specifically HT-PEM fuel cells that use hydrogen, renewable fuels (eFuels, e-methanol), DME (dimethyl ether), biofuels, methanol, ethanol, ammonia, natural gas, and other liquid or gaseous hydrogen carriers to produce electricity and heat. When methanol is used, the fuel cell is called a reformed methanol fuel cell.

Fuel cell MEAs: Membrane Electrode Assembly (MEA), which is a crucial electrochemical element of a fuel cell. MEAs largely determine the fuel cell’s power, efficiency, lifetime, weight, size, overall performance, and ultimately the price of the fuel cell.

Flow battery membranes: membranes and custom electrodes for redox flow batteries.

Organic photovoltaics: The company also offers electron-donating conjugated polymers for organic solar cells.

Electrolysis membranes: licensed and developing technology that can be used in high-temperature steam electrolysis (for hydrogen production from renewable energy sources).

Events and collaborations can be found here:

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Car Enthusiast’s Dream: Hyundai N Hydrogen Hybrid Concept Delivers Over 500 kW to the Rear Wheels Autofanien unelma: Hyundai N Vision 74

And Nissan is also testing Advent’s cells.

https://www.sec.gov/Archives/edgar/data/0001744494/000114036120025063/brhc10014146_s-4.htm

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Advent recently received good news regarding funding from the Greek government for its “IPCEI” (Important Project of Common European Interest) hydrogen technology, the Green HiPo program. Following EU ratification, a total of €782.1 million in funding will be available for Advent’s Green HiPo project over six years, according to the following schedule:

The goal of Green HiPo is to innovatively manufacture fuel cell systems and electrolysis systems during an initial six-year period. The production of these systems is intended to take place in Greece, in the region of Western Macedonia.

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Great that you opened a separate thread for Advent!

The recent Investor Day slides contain a lot of information about the company and the entire hydrogen sector; a recommended read for those interested in the company:

Advent Technologies Inc. - Events & Presentations

Indeed, with the Greek project, the goal is to build up to 1.6 GW of electrolysis + fuel cells on top of that. It is thus a giant project. The growth target is also very aggressive: $300 million by 2025. A very interesting one to follow.

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Just got an announcement that Advent Technologies received official ratification from the European Union for the “Green HiPo” IPCEI project.
So, the funding is now secured :+1:

https://www.businesswire.com/news/home/20220718005442/en/Advent-Technologies-Receives-Official-Ratification-From-the-European-Union-for-the-Green-HiPo-IPCEI-Project

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I haven’t been following Adventia very closely. My buy order was at $1, but it didn’t quite reach that before things really started to happen :blush:

However, the company seems to be doing quite well, and now that proper funding is secured for at least five years, this might be a hidden gem in the otherwise crappy SPAC sector at current prices. Good that we got a thread started for this.

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Found an article from November 3, 2020. Advent has also developed HT-PEM cells with Toyota.

https://www.greencarcongress.com/2020/11/20201103-advent.html

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I was also planning to buy at $1… Well, now I’m in at a slightly higher price.
At the moment, at least, it seems the price isn’t too expensive for this company.
I last followed the company about a year ago and started again when it rose from $1.3.

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Let’s combine the news. So, would ADN be involved in all of those? :man_shrugging:

Rolls-Royce and Hyundai Motor Group announce plans to collaborate on bringing all-electric propulsion and hydrogen fuel cell technology to the Advanced Air Mobility (AAM) market.

https://www.hyundaimotorgroup.com/news/CONT0000000000043760
.
Hyundai Motor Group and Safran signed a Memorandum of Understanding to explore and identify potential opportunities in the Advanced Air Mobility (AAM) sector.

https://www.safran-group.com/pressroom/hyundai-motor-group-and-safran-signed-memorandum-understanding-advanced-air-mobility-development-2022-07-19

ADN is collaborating with both Hyundai and Safran.

https://www.advent.energy/2022/04/07/advent-technologies-announces-new-orders-of-ht-pem-meas-by-safran-power-units/

https://www.advent.energy/2022/04/06/advent-technologies-and-hyundai-motor/

And I recall that Iveco will be using Hyundai’s fuel cell systems in European buses in the future.

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Updating this once in a while.

Good news about Advent’s honey badger and delivery to the army.

https://finance.yahoo.com/news/advent-technologies-launches-honey-badger-130000128.html

And the second quarter results will be out on August 9th.

https://finance.yahoo.com/news/advent-technologies-announces-date-second-130000305.html

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This news has not been posted here.

“The longest distance a hydrogen-powered vehicle has ever driven without refueling and an electric vehicle without charging.”
Published on June 8, 2022

https://www.advent.energy/2022/06/08/advents-methanol-based-fuel-cell-unit/

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Investor day video.

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Now, I found an interesting article. So, could the mystery car brand be Toyota, which is yet to be announced?

Direct quote from the text:

“On Wednesday, July 6, members of Advent’s global sales team welcomed representatives from Toyota Tsusho to our company’s facilities in Aalborg, Denmark. The purpose of the meeting was to discuss how Advent’s fuel cell products can contribute to Toyota Tsusho’s efforts to replace diesel generators in Japan and other markets. As part of their visit, Toyota Tsusho Corporation toured Advent’s modern facilities and held insightful discussions exploring opportunities for future collaboration.”

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New collaboration today with DEPA Commercial SA, a leading importer of pipeline natural gas and liquefied natural gas (“LNG”) in Greece. They are starting a strategic cooperation on hydrogen projects of common interest.

https://finance.yahoo.com/news/advent-technologies-greek-natural-gas-130000169.html

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Advent’s Q2.
No immediate disappointment came from it.

  • Second-quarter revenue of $2.2 million, plus grant income of $0.2 million, totaling $2.4 million. This is an increase of $1.1 million from the corresponding period last year, representing a 124% growth.
  • Second-quarter net loss of $11.1 million, or $0.22 per share. (The expectation was apparently - $0.24)
  • The company has $46.5 million in cash and cash equivalents as of June 30, 2022.

https://finance.yahoo.com/news/advent-technologies-reports-q2-2022-110000817.html

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New collaboration.

“Leveraging Advent’s current and next-generation fuel cell technology, Advent and DANNAR are partnering to develop a fuel cell range extension for DANNAR’s mobile equipment and to create an extensive mobile charging station. The project aims to enable DANNAR to transform its customers’ fleets by replacing many single-use work vehicles with a multi-functional, emissions-free electric, configurable platform. This single platform could serve many daily maintenance, seasonal, and emergency needs. The companies also plan to explore potential commercialization opportunities with third parties.”

https://www.stockilluminati.com/adn/display.php?url=http%3A%2F%2Fwww.businesswire.com%2Fnews%2Fhome%2F20220811005398%2Fen%2FAdvent-Technologies-Signs-Memorandum-of-Understanding-with-DANNAR-to-Develop-Fuel-Cell-Range-Extension-and-Mobile-Charging-Station%2F%3Ffeedref%3DJjAwJuNHiystnCoBq_hl-Q-tiwWZwkcswR1UZtV7eGe24xL9TZOyQUMS3J72mJlQ7fxFuNFTHSunhvli30RlBNXya2izy9YOgHlBiZQk2LOzmn6JePCpHPCiYGaEx4DL1Rq8pNwkf3AarimpDzQGuQ%3D%3D

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Advent Technologies Announces Successful Delivery of Portable Fuel Cell Products to the Hellenic Army.

“Advent’s fuel cell technology powers a highly advanced portable battery charger.”

“military units can quickly and efficiently use the portable fuel cell to power off-grid radios, surveillance equipment and other mobile electronic military devices”

The portable fuel cell provides up to 50W of continuous power and up to 85W of peak power.

https://finance.yahoo.com/news/advent-technologies-announces-successful-delivery-130800659.html

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“Advent Technologies Among Key Partners Signing Multi-State MOU in Support of U.S. Northeast Clean Hydrogen Hub”

Funding of up to $8 billion available for participants.

https://finance.yahoo.com/news/advent-technologies-among-key-partners-130000218.html

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Good news. MOU to Saudi Arabia.

https://ir.advent.energy/news/news-details/2022/Advent-Technologies-signs-MoU-with-Saudi-based-Company-Hydrogen-Systems-Inc.-to-Distribute-Fuel-Cells-and-Hydrogen-Products-in-the-Middle-East/default.aspx

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Things are moving forward :+1:

“Advent Technologies Signs Fuel Cell Systems Supply Agreement with the German State of Brandenburg.”

https://finance.yahoo.com/news/advent-technologies-signs-supply-agreement-130000762.html

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