Hyundai Motor Company and Advent Technologies Celebrate Commencement of Technology Assessment
27 April 2022 - 11:00PM
Business Wire
An Executive
from Hyundai Traveled to Advent’s Headquarters in Boston to
Participate in an In-Person Signing Ceremony
Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or
the “Company”), an innovation-driven leader in the fuel cell and
hydrogen technology sectors, is pleased to announce that, on
Tuesday, April 19, 2022, it hosted executives from Hyundai Motor
Company (“Hyundai”), a leading multinational manufacturer with
operations in over 200 countries, to formally celebrate the
companies’ recently announced collaboration, under which Advent and
Hyundai will work together to assess applications of Advent’s
proprietary technology in supplying Hyundai’s high-temperature fuel
cell needs.
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Dr. Vasilis Gregoriou, Advent's Chairman
and Chief Executive Officer (left), and Dr. Jong Kook Lee,
Hyundai's Executive Director (right), during the signing ceremony
in Advent's Headquarters in Boston (Photo: Business Wire)
More specifically, Hyundai’s Executive Director, Dr. Jong Kook
Lee, traveled to Advent’s headquarters in Boston at 200 Clarendon
Street, to participate in an in-person ceremonial signing of the
agreement with Advent’s Chairman and Chief Executive Officer, Dr.
Vasilis Gregoriou. This ceremonial signing marked the first such
event in which Advent has partaken with Hyundai.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive
Officer, stated, “We are excited to work with Hyundai as they
pursue a decarbonization strategy involving high-temperature fuel
cells. Bringing green energy solutions to carbon-intensive
applications is imperative for achieving climate goals, a fact that
both Advent and Hyundai understand. We recognize the importance of
this agreement by choosing to begin this cooperative relationship
with an in-person, ceremonial signing ritual and underscore the
close relationship that the companies plan to share over the course
of the agreement, with the goal of advancing high-temperature fuel
cell development.”
Dr. Jong Kook Lee, Hyundai’s Executive Director, said, “Hyundai
is delighted to take these steps with Advent to develop best in
class high-temperature fuel cells. We look forward to working with
Advent through this testing and development phase in the hope that
it will unlock a key step for more widespread adoption of fuel cell
technology in high-temperature applications. With this agreement,
Hyundai takes an important step forward with a new partner and
leader in the HT-PEM space.”
“With Advent’s unparalleled HT-PEM technology and experience in
fuel cell production and Hyundai’s broad experience, we believe
this agreement will be a significant step towards potentially
breakthrough high-temperature fuel cell developments. We are eager
to begin work with a partner as enthusiastic about the promise of
fuel cells as Advent is,” Dr. Gregoriou added.
About Advent Technologies Holdings,
Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that
develops, manufactures, and assembles fuel cell systems and the
critical components for fuel cells and other advanced energy
systems. Advent is headquartered in Boston, Massachusetts, with
locations in California, Denmark, Germany, Greece, and the
Philippines. With 150-plus patents issued, pending, or licensed for
its fuel cell technology, Advent holds the IP for next-generation
HT-PEM that enable various fuels to function at high temperatures
under extreme conditions – offering a flexible “Any Fuel.
Anywhere.” option for the automotive, maritime, aviation, and
power generation sectors. For more information, visit
www.advent.energy.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” “plan,” “could,” “may,”
“will,” “believe,” “estimate,” “forecast,” “goal,” “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, future financial
performance; public securities’ potential liquidity and trading;
impact from the outcome of any known and unknown litigation;
ability to forecast and maintain an adequate rate of revenue growth
and appropriately plan its expenses; expectations regarding future
expenditures; future mix of revenue and effect on gross margins;
attraction and retention of qualified directors, officers,
employees and key personnel; ability to compete effectively in a
competitive industry; ability to protect and enhance corporate
reputations and brand; expectations concerning relationships and
actions with technology partners and other third parties; impact
from future regulatory, judicial and legislative changes to the
industry; future arrangements with, or investments in, other
entities or associations; and intense competition and competitive
pressure from other companies worldwide; and the risks identified
under the heading “Risk Factors” in Advent’s Annual Report on Form
10-K filed with the Securities and Exchange Commission, as well as
the other information each has files with the SEC. We caution
investors not to place considerable reliance on the forward-looking
statements contained in this press release. You are encouraged to
read the filings with the SEC, available at www.sec.gov, for a
discussion of these and other risks and uncertainties. The
forward-looking statements in this press release speak only as of
the date of this document, with no obligation to update or revise
any of these statements. Investors, potential investors, and others
should give careful consideration to these risks and
uncertainties.
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version on businesswire.com: https://www.businesswire.com/news/home/20220427005518/en/
Advent Technologies Holdings, Inc. Michael Trontzos / Chris
Kaskavelis press@advent.energy
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