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

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BOSTON–(BUSINESS WIRE)–August 17, 2022–

Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-focused leader in fuel cell and hydrogen technology, is pleased to announce the successful delivery of portable fuel cell products from Advent to the Z Amphibious Raider (“Z’MAK”) Squadron of the Hellenic Army.

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Advent’s fuel cell technology powers a highly sophisticated and incredibly portable battery charger designed to meet rugged off-grid power needs in performance-demanding environments, such as those routinely faced by Z’MAK and other military divisions. The portable fuel cell can be used quickly and efficiently by remote military units to power off-grid radio, surveillance equipment and other mobile electronic military equipment while operating in even the harshest combat conditions. Advent’s portable fuel cell uses the company’s proprietary methanol reforming technology to deliver optimum performance alongside a significant reduction in size and weight.

Lightweight and compact, the portable fuel cell fits into soldier’s plate carrier systems and backpacks, maximizing efficiency and portability in a full range of military operations. Portable fuel cell delivers up to 50W of continuous power and up to 85W of peak power, ensuring a reliable charging experience to a wide variety of high-powered electronic devices regularly used by Z’MAK during deployment .

Advent’s portable fuel cell operates silently and can operate non-grid non-stop for up to two weeks on a single hot-swappable fuel tank. The portable fuel cells were successfully deployed as part of the large-scale Joint National Exercise PARMENION.

Dr. Vasilis Gregoriou, President and CEO of Advent, said: “We are delighted with our continued collaboration with the Hellenic Army and are grateful for their confidence in our products. The ability of Advent’s products to effectively meet the growing operational needs of major defense applications has been proven in the field, and it demonstrates that our “Any Fuel. Everywhere.” strategy is more relevant than ever. At Advent Technologies, we all look forward to continuing this collaboration with the Hellenic Army, playing our part in their challenging mission to protect Greek national interests and ensure the integrity of the waters. Greek territories, mainland and islands.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is an American company that develops, manufactures and assembles complete fuel cell systems and supplies its customers with essential components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany and the Philippines. With over 150 issued, pending, and/or licensed patents for fuel cell technology, Advent owns the intellectual property for the next generation of HT-PEMs that enable various fuels to operate at elevated temperatures and under harsh conditions. extremes – providing a flexible fuel option for automotive, aviation, defence, oil & gas, marine and power generation. For more information, visit www.advent.energy.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of words such as “anticipate”, “expect”, “plan”, “could”, “could”, “will”, “believe”, “estimate”, ” provide “. “, “objective”, “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; the liquidity and potential exchanges of government securities; the impact of the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and plan expenses appropriately; expectations regarding future expenditures; future revenue mix and effect on gross margins; attracting and retaining qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s reputation and brand; expectations regarding its relationships and actions with technology partners and other third parties; the impact of future regulatory, judicial and legislative changes on the industry; ability to locate and acquire complementary technologies or services and integrate them into the Company’s activities; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies around the world in the industries in which the Company will operate; and risks identified under “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2022, and other information filed with the SEC. Investors are cautioned not to place significant reliance on any forward-looking statements contained in this press release. We encourage you 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 contained 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 mentioned above. Investors, potential investors and others should pay particular attention to these risks and uncertainties.

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CONTACT: Advent Technologies Holdings, Inc.

Elisabeth Maragoula / Michael Trontzos

press@advent.energy

KEYWORD: MASSACHUSETTS EUROPE UNITED STATES GREECE NORTH AMERICA

KEYWORD INDUSTRY: OTHER DEFENSE OTHER ENERGY MATERIALS ENVIRONMENTAL PROBLEMS ALTERNATIVE ENERGY ENERGY TECHNOLOGY DEFENSE ENVIRONMENT ENGINEERING MANUFACTURING MILITARY

SOURCE: Advent Technologies Inc.

Copyright BusinessWire 2022.

PUBLISHED: 08/17/2022 09:08 AM/DISC: 08/17/2022 09:08 AM

http://www.businesswire.com/news/home/20220817005422/en

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