Advent Technologies and Alfa Laval partner in the marine fuel cell development project

BOSTON, January 11, 2023–(BUSINESS WIRE)–Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-focused leader in the fuel cell and hydrogen technology industry, is pleased to announce its future partnership with Alfa Laval, a global supplier of heat transfer , separation and fluid handling products, in a project to explore the applications of methanol-fueled high-temperature proton exchange membrane fuel cells ( HT-PEM) from Advent in the marine industry.

Funded by the Danish Energy Technology Development and Demonstration Program (“EUDP”), the project is a joint effort between Advent, Alfa Laval and a group of Danish shipowners. The project will focus on testing Advent methanol-powered HT-PEM fuel cells as an auxiliary marine power source. During the project, the fuel cell system will undergo a risk assessment by a leading international classification society.

In parallel, the project aims to integrate the next generation of fuel cells from Advent. These fuel cells will be based on Advent’s next generation membrane electrode assembly, developed as part of The Innovator, the Company’s joint development program with Los Alamos National Laboratory at the US Department of Energy, Brookhaven National Laboratory and National Renewable Energy Laboratory. In an effort to meet the ever-increasing power needs of the marine industry, Advent’s next-generation fuel cells are expected to show significant increases in life, efficiency and power output.

Advent’s technology enables its fuel cells to operate at high temperatures between 160°C and 220°C and serve as a reliable source of on-demand power in a variety of applications and industries, including the transmission, generation of electricity and the movement of heavy vehicles. The Company’s HT-PEM technology can use cheap and abundant hydrogen fuels, such as methanol,e-methanol and biomethanol. Methanol in particular has generated great interest as a future fuel for the marine industry, and Advent’s HT-PEM fuel cells work perfectly with methanol, using an integrated reformer.

Mr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies: “The Advent team is committed to accelerating the decarbonization of the maritime industry. Our Serene fuel cell runs on methanol — a clean alternative to fossil fuels — which is safer to handle than hydrogen gas and easy to deploy on site. Over the past few months, we have received significant interest from the marine industry in our methanol fuel cells. This gives us optimism about the future and our contribution to the sector’s net zero emissions goal by 2050. We look forward to realizing this highly innovative EUDP-funded project and continuing our collaboration with Alfa Laval. »

Jeroen van Riel, Alfa Laval Business Development Manager for Marine Energy Solutions: “We are pleased to see the outcome of this good collaboration with Advent, an experienced partner with innovative fuel cell products already deployed in the field. We believe that HT-PEM technology has great potential at sea and we look forward to further exploring various Advent technologies as the maritime industry moves towards decarbonization. »

Morten Hougaard Sørensen, Senior Vice President of Advent Technologies: “We would like to thank Alfa Laval for their commitment to partner with our extensive expertise and proprietary technology to advance a marine fuel cell solution. The Advent team envisions methanol, biomethanol and e-methanol as the shipping fuels of the future. We are pleased that Alfa Laval agrees with this view. We hope that this project will be the beginning of a long and productive collaboration that will lead to a faster transition to a clean energy transmission sector. »

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 key components for fuel cells in the renewable energy sector. Advent is based in Boston, Massachusetts, and has offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending and/or licensed for fuel cell technology, Advent owns the intellectual property rights for next-generation HT-PEMs that enable others’ t different fuel cells to operate at high temperatures and in extreme conditions, providing a flexible fuel option for the automotive, aviation, defense, oil and gas, marine and power generation industries. For more information, please visit www.advent.energy.

About Alfa Laval

Alfa Laval is a world leader in heat transfer, centrifugal separation and fluid handling. The company is active in the fields of energy, marine and food and water, offering its expertise, products and services to a wide range of sectors in approximately 100 countries. The company is committed to optimizing processes, creating responsible growth and driving progress to help customers achieve their business and sustainability goals.

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contacts

Advent Technologies Holdings, Inc.
Elisabeth Maragoula/Michael Trontzos
press@advent.energy

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