Hyundai Motor Business and Advent Systems Indication Joint Enhancement Settlement Following Thriving Gasoline Cell Technology Assessment

Hyundai Motor Enterprise and Arrival Technologies indication joint enhancement settlement next productive gasoline mobile engineering assessment.

Hyundai Motor Enterprise declared a profitable technology evaluation with Advent Technologies Holdings, Inc. (“Advent”), an innovation-pushed chief in the fuel cell and hydrogen technology sectors. The assessment evaluated Advent’s proprietary Membrane Electrode Assembly (“MEA”) technological know-how for supplying Hyundai’s large-temperature gasoline cell desires, and following its achievements, the two organizations have entered into a Joint Growth Arrangement (“JDA”).

The signing ceremony took position on March 22, 2023, at Advent’s headquarters in Charlestown, Massachusetts, and included senior executives from both of those companies. Less than the arrangement, Hyundai and Advent will operate alongside one another to more develop HMC-Introduction Ion Pair™ MEA, establish industrial criteria for MEA offer, and appraise Advent’s advanced gasoline cell technologies for Hyundai’s large-responsibility and/or stationary application.

Additionally, the get-togethers will introduce highly developed cooling technologies for mobility Large-Temperature Proton Exchange Membrane (HT-PEM) fuel cell stacks. Arrival will operate carefully as Hyundai evaluates these stack cooling systems and make sure ideal efficiency underneath diverse working problems.

This partnership builds on a commitment from each corporations to create sustainable energy remedies for carbon-intensive applications. Hyundai aims to accelerate the institution of a hydrogen-based mostly society dependent on its vision, Progress for Humanity, and this JDA aligns with that vision.

The synergy created by combining the two companies’ state-of-the-art know-how in this JDA is anticipated to revolutionize the world wide MEA marketplace by offering major advancement in life time and an raise in electricity density as opposed to present HT-PEM MEAs.

Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, said:

The Introduction team worldwide is proud and psyched to enter into the next section of a hugely promising collaboration with Hyundai, with today’s JDA signing at our Hood Park facility in Charlestown, MA.

“Through this collaboration, we purpose to speed up the change in the direction of sustainable electricity and help condition a cleaner, extra economical long run by helping Hyundai in bringing its long run mobility approach to life.”

“With our frequent target to decarbonize hefty-responsibility transport, we are committed to contributing to Hyundai’s purpose of setting up modern, high-performance fuel cell remedies that will make a substantial affect in minimizing greenhouse gas emissions.”

Seung Hyun Hong, Vice President and Head of the Product Research & Engineering Heart at Hyundai Motor Organization, explained:

Hyundai is delighted to go into the following step of its collaboration with Introduction, a top firm in the HT-PEM area.

“The Ion Pair™ HMC-Arrival MEA, forming the heart of the gasoline cell, will be created by combining the HT-PEM know-how and materials technologies of each get-togethers.”

“It will prove Hyundai’s high-temperature pushed content complex skills and enjoy a essential role in our decarbonization target and acquire most effective-in-class significant-temperature gasoline cells, unlocking a important stage for much more widespread adoption of gasoline mobile engineering in substantial-temperature purposes.”

Dr. Emory De Castro, Chief Technological know-how Officer of Introduction Technologies, mentioned:

The prosperous completion of the Engineering Assessment with Hyundai is a testament to Advent’s technical excellence and sector-top expertise in HT-PEM fuel mobile know-how.

“Our team’s unwavering motivation has been instrumental in assembly the intricate demands of Hyundai’s fuel cell initiatives.”

“Today’s signing ceremony was an excellent prospect for us to not only celebrate this significant milestone but also showcase our recently opened R&D and Producing facility, where we will be creating a variety of innovative products and solutions, including the Ion Pair™ MEAs.

As companions, we share a popular intention to decarbonize transportation and bring modern, significant-general performance gas mobile remedies to the market. We are energized to make on our effective partnership with Hyundai and continue on our joint efforts to realize this intention.”

About Advent Technologies Holdings, Inc.

Arrival Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles total fuel cell units as very well as giving customers with vital factors for gas cells in the renewable electricity sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines.

With additional than 150 patents issued, pending, and/or licensed for fuel mobile technological know-how, Advent retains the IP for upcoming-technology HT-PEM that permits different fuels to operate at substantial temperatures and below extreme situations – supplying a flexible gasoline solution for the automotive, aviation, protection, oil and gas, marine, and electric power era sectors. For additional information and facts, visit www.advent.power.

Hyundai Motor Enterprise and Advent Systems Indication Joint Progress Agreement Next Prosperous Gas Mobile Engineering Evaluation, BOSTON & SEOUL, March 22, 2023