Advent Technologies, a leader in the fuel cell and hydrogen technology space, has signed new contracts for the delivery of electrochemistry components with manufacturers of clean power generation and energy storage solutions.
The contracts, worth a total of $2.2 million, were signed in the fourth quarter of 2021. Electrochemistry components were first delivered by Advent in the fourth quarter of 2021, and deliveries are expected to continue through September 2022. Customers from North America account for the vast majority of new business.
Dr. Vasilis Gregoriou, Advent’s Chairman and Chief Executive Officer, said, “We are excited to continue on a high-growth path and expand customer relationships across the USA, Europe, and Asia. Advent is recognized as a company with game-changing technology and our philosophy is to deliver high-quality products to companies as dedicated to a clean energy future as we are. We look forward to helping our customers reach their goals, and we hope that their trust leads to Advent expanding its repeat business with satisfied clients.”
Electrodes, membranes, and membrane electrode assemblies (“MEAs”) are all part of Advent’s electrochemistry components business. Fuel cells, electrolyzers, and long-term energy storage all require these components (flow batteries). The lifetime, efficiency, weight, and, ultimately, a significant portion of the cost of the end electrochemistry products are determined by the performance of these components. In the field of electrochemical components, Advent is constantly innovating.
With synthesis and manufacturing capabilities in Europe, Advent’s electrochemistry materials R&D is based in Boston, Massachusetts. Advent is expanding its manufacturing capabilities by building a new facility on the Hood Park campus in Charlestown, Massachusetts, that will focus on the development and manufacturing of next-generation fuel cell components.
Advent’s Chief Technology Officer Dr. Emory DeCastro added: “2021 was a year of successful growth, and demonstrated great success in Advent’s first year as a public company. The Company had 100% acceptance of our products by our customers in the electrochemistry component business, with zero returns for quality issues. Our new Hood Park facility will allow us to scale-up and deliver on the increasing global demand for electrochemical components in the clean energy space.”
