November 28, 2023

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Advent Technologies and Hyundai Motor Business enter into Technological innovation Evaluation, Sales and Development Settlement

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BOSTON, April 06, 2022–(Small business WIRE)–Advent Systems Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-pushed chief in the gasoline mobile and hydrogen engineering sectors, is happy to announce the signing of a know-how assessment, profits, and advancement agreement with Hyundai Motor Corporation (“Hyundai”), a leading multinational automotive manufacturer providing a array of entire world-class vehicles and mobility providers in in excess of 200 international locations.

Arrival and Hyundai aim to deliver inexperienced energy options to existing significant carbon applications, employing gas cell technological know-how. Beneath the agreement, Hyundai will supply catalysts to Introduction for analysis in its proprietary Membrane Electrode Assemblies (“MEAs”), while Arrival intends to assistance Hyundai in fulfilling its gas mobile project requires, through:

  • Acquiring inks and buildings applying IFAT catalysts, which will then be evaluated by IFAT. Subsequent evaluation, Hyundai will establish irrespective of whether IFAT or conventional catalysts will be utilized for this job.

  • Giving MEAs all over the development/commercialization cycle (“Advent MEAs”) for tests, analysis, and optimization beneath ailments set by Hyundai.

  • Assisting Hyundai with the use and requirements of MEAs as nicely as their implementation into Hyundai’s patterns.

Adhering to the completion of the initially period of the project, the organizations will collaborate closely to established out certain products specifications, collaborative product objectives, as well as milestones for acquiring proven targets and ideas for period 2, which shall also incorporate Advent’s stack cooling technology.

The new Arrival MEAs to be examined by Hyundai are currently being produced inside the framework of L’Innovator, Advent’s joint enhancement system with the U.S. Section of Energy’s Los Alamos Countrywide Laboratory, Brookhaven National Laboratory, and National Renewable Electrical power Laboratory. MEAs are the most significant factors of a gas cell as they enormously define the overall performance, life time, fat, and price of the conclude program.

Advent MEAs run at a large temperature (80oC to 240oC) in contrast to the incumbent very low temperature PEM engineering, which is limited to an working temperature of below 100oC. The skill to operate at a high temperature confers major advantages these kinds of as the efficient warmth removing in weighty-duty mobility apps, producing Advent’s significant temperature PEM an best know-how for vans, aviation, and maritime purposes. Advent’s MEAs can function efficiently with fuels such as impure hydrogen which can be reformed on-board from methanol, purely natural gasoline, and other renewable fuels. Advent’s MEAs are also resilient to severe temperature versions, humidity, and air excellent situations.

Dr. Emory De Castro, Advent’s Chief Technologies Officer, said, “We are enthusiastic and very pleased to sign up for forces with Hyundai, aiming to significantly contribute to their mission and to jointly take part in the pivotal job to changeover worldwide culture to clean vitality, consequently building hydrogen an economically feasible vitality resource. MEAs type the heart of the gas mobile and they are also a vital ingredient for other electrochemistry purposes, such as CO2-absolutely free hydrogen production, and, electricity storage. We hope our proprietary MEAs will very best serve Hyundai’s enterprise requires and search ahead to a extended and highly successful collaboration, sharing our very long-standing knowledge to assist Hyundai in bringing its potential mobility approach to lifetime.”

About Advent Systems Holdings, Inc.

Introduction Systems Holdings, Inc. is a U.S. company that develops, manufactures, and assembles full fuel mobile methods, and the important parts for fuel cells in the renewable vitality sector. Introduction is headquartered in Boston, Massachusetts, with places of work in California, Greece, Denmark, Germany, and the Philippines. With more than 100 patents issued for its gas mobile technologies, Arrival retains the IP for future-generation HT-PEM that allows several fuels to function at superior temperatures and underneath extraordinary conditions – providing a versatile “Any Gasoline. Anyplace.” possibility for the automotive, aviation, protection, oil and gas, maritime, and electricity era sectors. For a lot more details, go to www.introduction.power.

Cautionary Note Relating to Forward-Looking Statements

This push release contains ahead-hunting statements. These ahead-searching statements normally can be discovered by the use of terms these as “foresee,” “anticipate,” “strategy,” “could,” “may well,” “will,” “think,” “estimate,” “forecast,” “target,” “undertaking,” and other terms of very similar which means. Each individual forward-looking assertion contained in this press launch is subject to hazards and uncertainties that could trigger real benefits to vary materially from these expressed or implied by this kind of assertion. Applicable threats and uncertainties include things like, amid some others, the Company’s capability to maintain the listing of the Company’s common stock on Nasdaq foreseeable future economic performance general public securities’ opportunity liquidity and trading impact from the end result of any recognised and mysterious litigation capacity to forecast and keep an adequate rate of income expansion and appropriately prepare its fees anticipations concerning long term expenditures potential blend of income and effect on gross margins attraction and retention of qualified directors, officers, staff members and vital personnel capacity to compete proficiently in a competitive marketplace means to secure and boost Advent’s company name and manufacturer anticipations about its relationships and steps with technological know-how associates and other 3rd parties impression from upcoming regulatory, judicial and legislative improvements to the field capability to track down and purchase complementary technologies or services and integrate individuals into the Company’s small business long term arrangements with, or investments in, other entities or associations and intensive opposition and competitive stress from other companies worldwide in the industries in which the Organization will operate and the risks identified beneath the heading “Chance Aspects” in Advent’s Annual Report on Type 10-K/A filed with the Securities and Trade Fee on Could 20, 2021, as well as the other info filed with the SEC. Investors are cautioned not to location sizeable reliance on the ahead-looking statements contained in this push release. You are encouraged to browse Advent’s filings with the SEC, readily available at, for a discussion of these and other threats and uncertainties. The ahead-on the lookout statements in this push release discuss only as of the date of this doc, and the Business undertakes no obligation to update or revise any of these statements. Advent’s organization is topic to substantial risks and uncertainties, such as people referenced above. Buyers, prospective buyers, and others need to give thorough consideration to these dangers and uncertainties.

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Arrival Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
[email protected]

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