Advent Technologies Moves Forward with €34.5 Million RHyno Project Funded by EU Innovation Fund
ATHENS, Greece, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology space, announce today that its wholly owned Greek subsidiary, Advanced Energy Technologies S.A. has submitted five (5) required deliverables to the European Climate, Infrastructure and Environment Executive Agency (CINEA) -since April 1st 2025 when the RHyno Project officially commenced- and is preparing to submit the first Progress Report in September, covering the initial six months of the €34.5 million RHyno Project.
Dr. Nora Gourdoupi, PhD, Advent’s Senior Vice President for Business Development stated: “At present, Advent is actively engaged in the predesign phase of the facilities, including all necessary procedures for obtaining the required permits. A first draft of the master plan is expected to be completed by the end of September. Additionally, the Advent RHyno Project website has been live since July 2025, providing current updates and information about the project.”
The Advent Renewable Hydrogen Innovative Technologies (RHyno) project involves the establishment of key infrastructure for developing and manufacturing innovative fuel cells, electrolysers, and their key components including Advent’s ground-breaking Membrane Electrode Assembly technology at a megawatt (MW) scale. RHyno aims to pioneer the use of innovative materials to enhance power density and lifespan while significantly reducing the weight and volume of power systems through a streamlined balance of plant. The RHyno project intends to reinforce Advent’s position in the fuel cell market and at the same time, make a strategic entry into the highly evolving electrolyser market.
The RHyno project officially commenced on April 1st, 2025, and is currently in its sixth month of implementation. Funded by the EU Innovation Fund, the project will provide Advent with a total of €34,534,318 in non-dilutive grant funding over its duration.
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is an innovation driven technology company in the fuel cell and hydrogen technology space. The Company’s vision is to accelerate electrification through advanced materials, components, and next-generation fuel cell technology. Our technology applies to electrification (fuel cells) and energy storage (flow batteries, hydrogen production) markets, which we commercialize through partnerships with Tier1s, OEMs, and System Integrators. Advent is headquartered in Livermore, CA, with offices in Athens, Patras and Kozani Greece. With approximately 150 patents issued, pending, and/or licensed for fuel cell technology, Advent also holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information visit our website at www.advent.energy.
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Advent Technologies Holdings, Inc.
press@advent.energy
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