BOSTON, August 11, 2022--(BUSINESS WIRE)--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 the signing of a Memorandum of Understanding ("MoU") with DD Dannar, LLC. ("DANNAR"), an industry leader in battery and renewable energy production, storage, and software systems.
Utilizing Advent’s existing and next-generation fuel cell technology, Advent and DANNAR will collaborate to develop a fuel cell range extension for DANNAR’s mobile electric equipment and create a large-scale mobile charging station. The goal of the project is to enable DANNAR to transform its customers’ fleet stock by replacing many single-use work vehicles with a multi-functional, zero-emission electric, configurable platform. This single platform could serve a host of daily maintenance, seasonal, and emergency response needs. The companies also intend to explore potential commercialization opportunities with third parties.
Advent’s next-generation fuel cell technology addresses the global need for a dynamic, fuel-flexible power cell resilient enough to replace the diesel generator and the internal combustion engine. Based on Advent’s next-generation MEA – currently being developed within the framework of L’Innovator, the Company’s joint development program with the U.S. Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and National Renewable Energy Laboratory – and with a unique engineering architecture, Advent’s next-generation fuel cell technology is positioned to provide the clean energy solution for the mobility and power generation markets.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, noted: "We are excited to collaborate with DANNAR, to help them maximize the integration of intelligent technology to transform mobile and resilient power systems. DANNAR is building and supporting the intersection where clean, zero-emission energy and high-performance off-road machinery meet. We strongly believe that our existing and next-generation fuel cell technology can play a pivotal role in helping DANNAR significantly extend the operational range of their solutions and build the clean-power heavy-duty equipment of the future. We look forward to a long and prosperous partnership."
Mr. Gary Dannar, Founder and Chief Executive Officer of DANNAR, added: "Building stronger, cleaner, safer, and more resilient first responder teams are at the core of DANNAR’s strategy. Mobile Power Stations® provide off-grid export power along with power for heavy-duty equipment responding to planned operational and unexpected emergencies. In partnering with Advent, one of the leading and most innovative companies in the fuel cell and hydrogen technology markets, a vast range of industry electric fleet managers will have greater flexibility for their respective responses. Power and charging needs are growing at an unprecedented rate, and we are confident that this collaboration will contribute greatly to our goal of significantly reducing emissions by bringing efficient and highly differentiated clean energy options for mobility."
About Advent Technologies Holdings, Inc.
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 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 – offering a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.
Headquartered in Muncie, Indiana, DD DANNAR, LLC (DANNAR) is on a mission to help municipalities and the armed forces perform both daily operations and emergency response with the cleanest, most versatile, and powerful equipment on the market. DANNAR manufactures the all-electric Mobile Power Station (MPS), the first zero-emission modular platform that functions as both a multi-purpose on- and off-road work vehicle as well as a grid-scale auxiliary power supply. More information on the MPS and DANNAR is available at https://www.dannar.us.com.
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 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 Advent’s corporate reputation and brand; expectations concerning its relationships and actions with 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 Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 31, 2022, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s 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 the Company undertakes no obligation to update or revise any of these statements. Advent’s 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220811005398/en/
Advent Technologies Holdings, Inc. Elisabeth Maragoula / Michael Trontzos press@advent.energy
The major stock market indexes relinquished morning gains in afternoon trading on Friday, dropping to lows for the day. Market players hit the exits on news that Russia will suspend natural gas pipeline shipments to Germany. The Nasdaq changed course, now down 0.5%. The S&P 500 has shed 0.2% while the Dow Jones Industrial Average has dropped 0.2%. The Russell...
‘Rich Dad Poor Dad’ sees a window to get rich. He might be right.
Follow Buffett’s lead. And collect big dividends too.
Cathie Wood's ARK Invest cut its stake in Nvidia ahead of the graphic chipmaker's results last month. Now it's snapped up the stock which has dropped to a 52-week low.
Chinese stocks have come under pressure for various reasons over the past year and a half or so; a slowing economy has been one cause while domestic tussles with the regulators haven’t helped either, particularly for those in the tech sector. Another element keeping sentiment low and impacting performance has been the fear of de-listing for U.S.-listed Chinese stocks. This is on account of Chinese companies not meeting U.S. auditing standards. But the prospects of de-listing might be less likely
(Bloomberg) -- Stocks are falling and bond yields are rising, but markets still don’t seem convinced the Federal Reserve will pursue plans to keep increasing interest rates until inflation is under control, said Sonal Desai, chief investment officer for fixed income at Franklin Templeton Cos. “The Fed lacks credibility,” Desai said on Bloomberg Television’s “Wall Street Week” on Friday. “Markets don’t believe that the Fed is going to do what the Fed keeps saying it’s going to do.”The S&P 500 clo
Orchid Island Capital Corp. (NYSE: ORC) is a finance company that acquires, invests in and offers financing from U.S. residential mortgage-backed securities (MBS). The Florida mortgage real estate investment trust (REIT) initiated an IPO in March 2013 at a price of $14.50. Its monthly dividend of $0.135 returned an approximate annual yield of 11%. However, in the last few years, the stock price has floundered, and ORC has reduced its dividend payment several times. Orchid’s price had recently be
Finally, investors have a good reason for why the U.S. stock market will suffer above-average volatility and below-average performance this month: It’s the Fed. Relatively few advisers are focusing on this outcome — at least among the more than 100 I regularly monitor.
In this article, we will discuss some of the best stocks to buy according to Dave Smith, Chief Investment Officer at investment management company Rockland Trust. If you want to explore similar stocks, you can also look at Long-Term Analyst: Buy These 5 Stocks. David Smith has been in the financial services industry for over […]
Investors initially cheered the payrolls report, but then the market sold off on fears of big rate hikes. Is it time to worry about quantitative tightening?
Ready to go bottom fishing again? Any good angler can tell you that there’s plenty of good eating just waiting at the bottom of the creek, or the pond, or the lake. The same concept also holds for stocks – investors can always find some quality equities down at the market bottoms. Stocks get down there for a multitude of reasons, and the reasons aren’t always related to any fundamental flaw in the company or its share trading policies. Sometimes, it’s some idiosyncratic business move, or over-re
The S&P 500 broke below 4,000 this week, for the first time since the end of July. It has investors wondering: Does this mark the low point of a roller coaster ride? Stocks rose all last year, fell from January to June, rallied from July to mid-August, and now are falling again. According to Wells Fargo strategist Paul Christopher, it’s evidence that the stock rally is sputtering to a halt. Christopher writes that “Cracks in financial market liquidity are appearing,” and says of the S&P 500, “3,
Shat should investors do now if they are considering making a bet on the infamously volatile sector.
(Bloomberg) -- Investors bracing for a recession jolt accelerated their retreat from stocks after the Federal Reserve warned it won’t be easily deterred in its fight against inflation, Bank of America Corp. strategists say.Most Read from BloombergAmazon Closes, Abandons Plans for Dozens of US WarehousesGazprom Won’t Reopen Gas Pipeline in Energy Shock to EuropeStocks Suffer Third Weekly Loss on Rate-Hike Woes: Markets WrapLukoil Chairman Ravil Maganov Dies After Falling From Hospital WindowGloba
Electric vehicle (EV) charging network company ChargePoint Holdings (NYSE: CHPT) gave investors a mixed fiscal 2023 second-quarter earnings report earlier this week. ChargePoint exceeded the high end of its prior guidance for revenue. The company had told investors to expect revenue of between $96 million and $106 million for the period, and it achieved $108.3 million in sales.
In this article we are going to share the list of hedge funds’ 10 best media and entertainment stocks to buy. You can skip our discussion and see the 5 Best Media Stocks To Buy here. Media and entertainment stocks have been hammered this year and this may be a good time to dip our […]
The stock plummeted after the U.S. government imposed new licensing requirements for advanced chip sales. Jefferies believes the contraction presents a buying opportunity.
Recently, Zacks.com users have been paying close attention to Energy Transfer LP (ET). This makes it worthwhile to examine what the stock has in store.
Dan Niles, a money manager who has been bearish on the stock market, is even more pessimistic now. But he does see some opportunities, including in shares of Walmart and Amazon.com.
The bond market has entered its first bear market in more than 30 years — and possibly much longer. A bear market is usually defined as a loss of at least 20% from its previous peak. The bond market downturn has come due to rampant inflation in the western world, and the efforts by central banks to tame it.