Published by Todd Bush on February 26, 2024
February 26, 2024 07:00 AM Eastern Standard Time
BOSTON--(BUSINESS WIRE)--Advent Technologies, an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that its wholly owned subsidiary, Advanced Energy Technologies S.A., has received the formal invitation from the Greek Ministry of Economy and Finance to immediately submit the requested documentation for its Green HiPo Important Project of Common European Interest (“IPCEI”) project.
>> In Other News: Capstone Green Energy Announces Appointment of John Miller to The Board of Directors
After Advent submits the requested documentation, the Greek Ministry of Economy and Finance is expected to proceed with the disbursement of a €24 million state aid package from Greece’s Just Transition Fund (JTF) for the implementation of the Green HiPo project. Expenses related to the project are eligible for reimbursement retroactive to June 15, 2022, the date of notification to the European Union’s Directorate-General for Competition of Greece’s participation in the IPCEI Hy2Tech program. Advent will also look to secure additional funding to round out the full €60 million which was authorized under the IPCEI’s project budget.
Advent was one of only eight small and medium-sized entities (“SMEs”) to have received ratification within Europe under the “IPCEI Hy2Tech” program. The project's direct participants will cooperate closely through numerous planned collaborations with more than 300 external partners, such as universities, research organizations and SMEs across Europe.
The Green HiPo project involves the development, design, and manufacture of state-of-the-art HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will be instrumental in the region's transition to a greener economic model. A new state-of-the-art facility in Kozani, Greece will be home to fuel cell and electrolyser production. It will contribute to the economic development of the region and help Europe achieve its current target of 10 million tons of renewable hydrogen production by 2030.
Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, commented: "The long anticipated invitation or “call” for the Green HiPo project from the Greek State has finally arrived. Green HiPo, alongside other initiatives slated for implementation in Western Macedonia, represents a very real opportunity for the region to transition from a coal-dependent economy to a more environmentally friendly economic model. We are excited to continue working with our partners across Europe to move forward towards energy security and independence, with hydrogen technologies playing a crucial role."
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical 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 more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🏭 Svante Launches World's First Commercial Gigafactory for Carbon Capture & Removal Filters ✈️ Alder Renewables and Bioénergie AECN Announce Project Avance: Unlocking Sustain...
Inside This Issue ✈️ United Bets on Photosynthesis and Limestone to Fuel Net-Zero Flight Path 📈 EIA: US SAF Production Takes Off as New Capacity Comes Online 🌲 Alder, Bioénergie AECN Unlock SAF Pr...
Inside This Issue 🌏 A Bold Transpacific Alliance: ExxonMobil and Marubeni Power a Cleaner Future with Low-Carbon Ammonia 💰 Aker Carbon Capture Has Decided to Sell Its 20 Percent Ownership Interest...
Project Avance will deploy Alder Renewables' proprietary technology to convert bio-oil currently produced at the Port-Cartier Bioénergie AECN plant which is a joint venture between sawmill operator...
Svante Launches World's First Commercial Gigafactory for Carbon Capture & Removal Filters
VANCOUVER, British Columbia--(BUSINESS WIRE)--Svante Technologies Inc. (Svante), a global leader in carbon capture and removal technologies, has officially completed the commissioning of its new Ce...
2025 Biogas Americas Tradeshow Breaks Records
The American Biogas Council (ABC) has announced another record-breaking year for its annual flagship BIOGAS AMERICAS trade event. Held April 28–30, 2025, in Denver, Colorado (CO), the fourth consec...
Canada’s Bold Path to Net-Zero: How the Pathways Alliance Is Reshaping Oilsands and Carbon Capture
A united front for a cleaner future In Canada’s race to reach net-zero emissions by 2050, few initiatives carry as much weight—or as much promise—as the $16.5 billion carbon capture and storage (C...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.