Advent Technologies and DEPA Commercial sign MoU for hydrogen projects

Advent Technologies announced the signing of a Memorandum of Understanding (MoU) with DEPA Commercial S.A., the largest importer of pipeline gas and liquefied natural gas (LNG) in Greece, to collaborate strategically on hydrogen projects of mutual interest.

The MOU lays the groundwork for a future mutually enforceable agreement. The following activities have been tentatively agreed upon by the parties:

• With the assistance of other key industrial partners, collaborate on the generation of ecologically friendly hydrogen as a fuel.
• Co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90 percent and multi-fuel operating capabilities (hydrogen, natural gas, efuels) that can address the most important current, future, on-grid, and off-grid operation modes and business cases.
• Develop synergies for the promotion of hydrogen and associated technologies and establish a center of innovation for the Greek hydrogen and fuel cell industries.

DEPA’s CEO, Dr. Konstantinos Xifaras, stated: “Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country. DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint. We look forward to working with Advent’s team of experts, contributing to the diversification of the national energy mix and the security of the energy supply while simultaneously strengthening the national economy.”

Dr. Vasilis Gregoriou, Advent’s Chairman and CEO added: “We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece’s energy future. DEPA is a trusted partner with significant experience and a strong presence in the energy sector of South East Europe. We look forward to a long-term cooperation with DEPA in an effort to jointly accelerate Greece’s transition to clean energy production and transport and to further strengthen our common presence on the global hydrogen map.”