Advent Technologies Holdings, Inc., an innovation-driven leader in the fuel cell and hydrogen technology space, iannounced that the European Climate, Infrastructure and Environment Executive Agency (CINEA) and Advent’s wholly owned Greek subsidiary, Advanced Energy Technologies S.A. have each signed the grant agreement for the Company’s monumental RHyno Project. This EU Innovation Fund grant will provide Advent with €34,534,318 in non-dilutive funding over the lifetime of the project, with funding to be received incrementally contingent upon completion of certain performance milestones.
The Advent Renewable Hydrogen Innovative Technologies (RHyno) project involves the establishment of infrastructure for developing innovative fuel cells, electrolysers, and their key components including Advent ground-breaking Membrane Electrode Assembly technology at a megawatt (MW) scale. RHyno aims to pioneer the use of innovative materials to enhance power density and lifespan while significantly reducing the weight and volume of power systems through a streamlined balance of plant.
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Press release https://tinyurl.com/ms35vtdz
