BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent“) today announced its membership in ITS mobility, the largest competence cluster for intelligent mobility in Germany. The U.S. corporation develops cutting-edge technologies allowing for an “Any Fuel. Anywhere.” option in which Advent’s high-temperature fuel cells are not limited to exclusively using hydrogen as a fuel source as they can convert hydrogen carriers and other e-fuels to electricity.
Advent plays an active role in the automotive sector through its patented high-temperature polymer electrolyte membrane (HT-PEM) technology. This allows electric vehicles (EVs), from smaller vehicles requiring a charge of 15 kW or less to larger vehicles requiring above 30 kW, to continuously recharge their batteries and refuel on a variety of zero-emissions liquid fuels.
ITS mobility is a multi-branched, active network connecting business, economic and science experts in projects and through professional events on intelligent mobility concepts designed to create safer and more efficient traffic and transportation. With more than 200 members and over 20 years of experience, ITS mobility promotes dialogue between the mobility industry and research community. The association’s focus includes automated and connected driving, sustainable mobility concepts, intelligent infrastructures, new drive technologies and energy sources, open data infrastructure, mobility-as-a service (MaaS), artificial intelligence, new materials, eCall, and positioning and navigation.
Dr. Vasilis Gregoriou, Advent Technologies Chairman and Chief Executive Officer, said, “We are thrilled to be a member of ITS mobility and actively contributing to this leading German network for the mobility industry and researchers. We look forward to collaborating with ITS mobility and our fellow members to help the hydrogen and fuel cell industries thrive while remaining committed to playing our role in the clean energy transition through the advancement of innovative, effective solutions.”
Thomas Krause, Chairman of the Board of ITS mobility, added: “We are excited to have Advent Technologies as a member of ITS mobility. Their knowledge and experience as an innovator in the fuel cell and hydrogen technology space will be a valuable asset to our competence cluster.”
ITS mobility is a member of the go-cluster program, the cluster political excellence measure of the Federal Ministry for Economic Affairs and Energy. ITS has been awarded the silver label for Cluster Management Excellence by the European Secretariat for Cluster Analysis (ESCA).
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (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, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; 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 our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file 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 our 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, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.