Advent Technologies Among the Companies to Co-Sign Joint Declaration to Increase Electrolyser Manufacturing Capacities in the European Union
BOSTON, Might 06, 2022–(BUSINESS WIRE)–Introduction Systems Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Business”), an innovation-pushed leader in the gas cell and hydrogen technological know-how sectors, is happy to announce that, on Thursday, May 5, 2022, its Chairman and CEO, Dr. Vasilis Gregoriou, participated in the European Electrolyser Summit in Brussels. This function was organized by the European Fee in cooperation with Hydrogen Europe and took put less than the auspices of the European Clean up Hydrogen Alliance.
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European Commissioner for the Internal Sector Mr. Thierry Breton (remaining) and Dr. Vasilis Gregoriou (suitable) through the European Electrolyser Summit. (Photo: Business Wire)
Commissioner for the Internal Industry Thierry Breton, CEO of Hydrogen Europe Jorgo Chatzimarkakis, and 20 CEOs and executives symbolizing firms including Introduction, Bosch, Convion, Cummins, De Nora, Elogen, Enapter, Genvia, Green Hydrogen Techniques, Helbio, H2B2, HyStar, John Cockerill, McPhy, Nel Hydrogen, Siemens Strength, SOLIDpower, Sunfire, Thyssenkrupp nucera and Topsoe, met and signed a Joint Declaration, creating a crystal clear purpose of paving the way toward acquiring the aims of the REPowerEU’s proposed Hydrogen Accelerator, which sets out a technique to double the former EU renewable hydrogen target to 10 million tons of yearly domestic generation and an more 10 million tons of once-a-year hydrogen imports.
Under the Joint Declaration, Europe’s main electrolyser manufacturers agreed to boost their production capability in an effort to have, by 2025, a put together annual electrolyser manufacturing ability in Europe of 17.5 GW, as very well as to even more maximize that capability by 2030 in line with projected desire for renewable and low-carbon hydrogen.
Moreover, the Joint Declaration attributes the three subsequent pillars:
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Regulatory framework: Guaranteeing a supportive regulatory framework by ample permitting procedures and a motivation to stand up for the formidable targets included in the revision of the Renewable Energy Directive and the Substitute Fuels Infrastructure Regulation Proposal.
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Entry to finance: Facilitating enough entry to finance by revamping the Innovation Fund to be inclusive of revolutionary zero and lower-carbon machines producing these types of as electrolysers. In addition, accessing condition support to de-danger investments and putting in spot Carbon Contracts for Variation to further more incentivize the big-scale deployment of clean hydrogen systems.
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Provide chain integration: Integrating source chains by growing Study and Development and guaranteeing the availability of essential components and supplies at the necessary scale.
Dr. Vasilis Gregoriou, Advent’s Chairman and Main Government Officer, mentioned: “Now marked an vital milestone for guaranteeing Europe’s long-expression electricity self-sufficiency and significantly reducing its reliance on fossil fuels. To reach the objectives outlined in the Joint Declaration that we signed today, the European electrolyser manufacturing sector requires to boost collaboration to ramp up electrolyser output to about 25 GW per yr with an put in electrolyser capability of 90-100 GW. We all understand this as a obstacle but also as a major industrial prospect that can positively lead to Europe’s transition to clean up electrical power at a significantly more rapidly fee than ever in advance of. Advent is extremely honored to be element of this joint commitment, and we are delighted to see the Fee supporting the industry’s aim to increase electrolyser manufacturing. All of us at Arrival Systems appear forward to sharing our very long-standing expertise and participating in a crucial purpose in the scale-up of electrolyser producing capability, aiming to secure vitality self-sufficiency and support Europe satisfy the expanding demand from customers for renewable hydrogen.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles gasoline mobile systems and the vital factors for gasoline cells and other state-of-the-art electricity techniques. Advent is headquartered in Boston, Massachusetts, with spots in California, Denmark, Germany, Greece, and the Philippines. With 150-furthermore patents issued, pending, or licensed for its fuel mobile technology, Introduction holds the IP for upcoming-generation HT-PEM that enable various fuels to functionality at large temperatures below extreme ailments – presenting a flexible “Any Gasoline. Anyplace.” solution for the automotive, maritime, aviation, and electricity era sectors. For far more details, take a look at www.arrival.energy.
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om the result of any known and not known litigation capacity to forecast and maintain an satisfactory fee of income growth and properly strategy its expenses anticipations pertaining to foreseeable future expenditures potential blend of income and impact on gross margins attraction and retention of competent administrators, officers, staff and important staff ability to contend properly in a competitive market ability to safeguard and boost company reputations and brand name anticipations about relationships and actions with engineering partners and other third functions effects from long term regulatory, judicial and legislative alterations to the marketplace long term arrangements with, or investments in, other entities or associations and extreme level of competition and competitive pressure from other corporations throughout the world and the pitfalls identified under the heading “Possibility Factors” in Advent’s Yearly Report on Form 10-K filed with the Securities and Exchange Fee, as properly as the other information just about every has information with the SEC. We caution buyers not to position substantial reliance on the forward-looking statements contained in this push release. You are encouraged to examine the filings with the SEC, obtainable at www.sec.gov, for a discussion of these and other hazards and uncertainties. The ahead-searching statements in this push release talk only as of the date of this document, with no obligation to update or revise any of these statements. Investors, prospective buyers, and other people should really give careful thought to these threats and uncertainties.
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Contacts
Arrival Systems Holdings, Inc.
Michael Trontzos / Chris Kaskavelis
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