Advent receives initial order for HT-PEM technology from energy firm

LIVERMORE, Calif. - Advent Technologies Holdings, Inc. (NASDAQ:ADN), whose stock has surged over 56% in the past year, has received an initial order for its Ion Pair High Temperature Proton Exchange Membrane (HT-PEM) electrode assemblies from a major energy sector company, according to a press release statement issued Monday. According to InvestingPro data, analysts expect significant sales growth for the company in the current year.

The customer is described as having more than 50,000 employees across over 100 countries, with technology used in generating a significant portion of global electricity. The company name was not disclosed in the announcement.

Advent’s HT-PEM technology allows various fuels to function at high temperatures and under extreme conditions, potentially serving multiple sectors including automotive, aviation, defense, oil and gas, marine, and power generation.

"We are thrilled to be working with this global energy leader," said Gary Herman, CEO of Advent Technologies. "Our Ion Pair HT-PEM technology is poised to revolutionize how people think about fuel cell technology." While the company’s stock has shown strong momentum with a 16% gain in the past week, InvestingPro analysis indicates the company is currently burning through cash rapidly.

Dr. Emory De Castro, Advent’s Chief Technology Officer, noted that the company is working to commercialize the Los Alamos Ion Pair technology, highlighting its "higher power density and simplified packaging system."

Advent Technologies, headquartered in Livermore, California, with additional offices in Greece, develops and manufactures fuel cell systems and components for the renewable energy sector. The company reports holding approximately 150 patents issued, pending, or licensed for fuel cell technology.

The financial terms of the order were not disclosed in the announcement. With revenue growth forecast at 64% for the current fiscal year, this development could be significant for the company’s future performance. For deeper insights into ADN’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers over 15 additional exclusive ProTips and detailed metrics for this stock.

In other recent news, Advent Technologies Holdings, Inc. announced it has regained compliance with Nasdaq’s listing requirements after entering into a settlement agreement with F.E.R. fischer Edelstahlrohre GmbH. This resolution involves a payment plan, potentially reducing the settlement amount if paid by June 30, 2026. Advent Technologies had faced a delisting determination from Nasdaq but was advised it was in conditional compliance as of April 16, 2025, contingent on reflecting the required equity adjustment in its upcoming quarterly report.

In addition to resolving compliance issues, Advent Technologies has entered into a collaboration with an unnamed U.S.-based semiconductor firm to develop electrochemical gas sensors using its Ion Pair membrane technology. This partnership focuses on leveraging Advent’s High Temperature Proton Exchange Membrane Technology, which is crucial for miniaturized gas sensors. Furthermore, Advent Technologies is supplying its membrane electrode assembly technology to Stralis Aircraft for their hydrogen electric Beechcraft Bonanza aircraft, enhancing efficiency through reduced weight and drag. These recent developments highlight Advent Technologies’ ongoing efforts to innovate and expand its technological applications.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.