November 29, 2023

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Hyundai Motor Business and Arrival Technologies Indication Joint Improvement Settlement Pursuing Effective Gasoline Cell Technological know-how Evaluation

Hyundai Motor Enterprise these days announced a productive technological know-how evaluation with Advent Technologies Holdings, Inc. (“Advent”), an innovation-pushed leader in the gasoline mobile and hydrogen technology sectors. The assessment evaluated Advent’s proprietary Membrane Electrode Assembly (“MEA”) engineering for providing Hyundai’s superior-temperature gasoline mobile needs, and subsequent its achievements, the two corporations have entered into a Joint Advancement Settlement (“JDA”).

This press release attributes multimedia. Perspective the full release in this article:

From left to right: Seung Hyun Hong, Ph.D. (Vice President, Materials Research & Engineering Center, Hyundai), Jim Coffey (Chief Operating Officer & General Counsel, Advent Technologies) (Photo: Business Wire)

From still left to correct: Seung Hyun Hong, Ph.D. (Vice President, Materials Analysis & Engineering Centre, Hyundai), Jim Coffey (Main Operating Officer & Normal Counsel, Arrival Technologies) (Photo: Small business Wire)

The signing ceremony took spot on March 22, 2023, at Advent’s headquarters in Charlestown, Massachusetts, and integrated senior executives from both equally corporations. Below the settlement, Hyundai and Advent will work jointly to further more establish HMC-Advent Ion Pair™ MEA, build professional standards for MEA offer, and appraise Advent’s superior gas mobile technological know-how for Hyundai’s weighty-duty and/or stationary application. Additionally, the get-togethers will introduce highly developed cooling systems for mobility High-Temperature Proton Trade Membrane (HT-PEM) fuel cell stacks. Advent will function carefully as Hyundai evaluates these stack cooling technologies and guarantee optimal general performance beneath distinctive functioning ailments.

This partnership builds on a determination from each providers to create sustainable power remedies for carbon-intensive programs. 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 eyesight. The synergy generated by combining the two companies’ sophisticated engineering in this JDA is predicted to revolutionize the global MEA current market by delivering significant enhancement in life time and an improve in energy density as opposed to present-day HT-PEM MEAs.

“The Arrival team around the globe is very pleased and excited to enter into the up coming section of a very promising collaboration with Hyundai, with present day JDA signing at our Hood Park facility in Charlestown, MA. By this collaboration, we intention to speed up the change towards sustainable power and assistance condition a cleaner, more economical foreseeable future by aiding Hyundai in bringing its potential mobility approach to existence,” claimed Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies. “With our widespread target to decarbonize hefty-duty transport, we are committed to contributing to Hyundai’s objective of setting up innovative, superior-performance gasoline mobile remedies that will make a considerable effect in reducing greenhouse gas emissions.”

“Hyundai is delighted to move into the up coming action of its collaboration with Advent, a major enterprise in the HT-PEM place. The Ion Pair™ HMC-Introduction MEA, forming the coronary heart of the gasoline cell, will be developed by combining the HT-PEM know-how and material technologies of both equally get-togethers,” reported Seung Hyun Hong, Vice President and Head of the Content Investigation & Engineering Center at Hyundai Motor Corporation. “It will show Hyundai’s higher-temperature pushed substance specialized expertise and participate in a crucial function in our decarbonization purpose and establish ideal-in-class significant-temperature gas cells, unlocking a important step for a lot more popular adoption of fuel mobile technologies in superior-temperature programs.”

“The effective completion of the Technologies Assessment with Hyundai is a testament to Advent’s complex excellence and business-top expertise in HT-PEM gasoline mobile technology. Our team’s unwavering motivation has been instrumental in assembly the sophisticated requirements of Hyundai’s gasoline mobile jobs,” added Dr. Emory De Castro, Chief Technological innovation Officer of Arrival Technologies. “Today’s signing ceremony was an superb chance for us to not only celebrate this critical milestone but also showcase our freshly opened R&D and Manufacturing facility, wherever we will be creating a range of ground breaking products, including the Ion Pair™ MEAs. As partners, we share a common target to decarbonize transportation and convey progressive, large-performance gas mobile answers to the marketplace. We are energized to make on our productive partnership with Hyundai and go on our joint initiatives to achieve this target.”

About Advent Systems Holdings, Inc.

Introduction Systems Holdings, Inc. is a U.S. company that develops, manufactures, and assembles total fuel cell programs as effectively as supplying customers with significant elements for gas cells in the renewable energy sector. Introduction is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With far more than 150 patents issued, pending, and/or licensed for gasoline mobile engineering, Arrival holds the IP for subsequent-generation HT-PEM that enables several fuels to purpose at significant temperatures and below extraordinary conditions – giving a versatile gas choice for the automotive, aviation, defense, oil and fuel, marine, and energy era sectors. For a lot more info, go to www.arrival.strength.

Cautionary Notice Concerning Ahead-Looking Statements

This press release incorporates ahead-looking statements. These forward-on the lookout statements usually can be recognized by the use of words and phrases these types of as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words and phrases of similar meaning. Each individual forward-looking statement contained in this push launch is topic to pitfalls and uncertainties that could bring about precise benefits to differ materially from people expressed or implied by this kind of assertion. Relevant challenges and uncertainties contain, between other folks, the Company’s ability to keep the listing of the Company’s widespread inventory on Nasdaq future economical functionality general public securities’ possible liquidity and trading affect from the result of any recognised and mysterious litigation potential to forecast and retain an adequate rate of income progress and properly strategy its fees expectations pertaining to long run expenses long run combine of income and outcome on gross margins attraction and retention of competent directors, officers, staff members and crucial personnel ability to contend successfully in a competitive marketplace capability to defend and enrich Advent’s corporate track record and manufacturer anticipations about its relationships and steps with engineering companions and other 3rd events effects from long term regulatory, judicial and legislative modifications to the sector ability to locate and receive complementary technologies or services and combine people into the Company’s business enterprise future preparations with, or investments in, other entities or associations and intense competition and competitive stress from other providers around the globe in the industries in which the Organization will work and the hazards determined beneath the heading “Risk Factors” in Advent’s Yearly Report on Kind 10-K submitted with the Securities and Exchange Fee (“SEC”) on March 31, 2022, as properly as the other data submitted with the SEC. Investors are cautioned not to place sizeable reliance on the forward-seeking statements contained in this press launch. You are encouraged to study Advent’s filings with the SEC, offered at, for a dialogue of these and other pitfalls and uncertainties. The ahead-seeking statements in this press launch talk only as of the date of this doc, and the Corporation undertakes no obligation to update or revise any of these statements. Advent’s small business is issue to sizeable challenges and uncertainties, like these referenced earlier mentioned. Investors, possible traders, and many others should really give very careful consideration to these risks and uncertainties.

About Hyundai Motor Corporation

Established in 1967, Hyundai Motor Enterprise is existing in above 200 nations with additional than 120,000 staff members focused to tackling real-environment mobility challenges about the world. Based on the brand name eyesight ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Answer Provider. The enterprise invests in advanced technologies these kinds of as robotics and Advanced Air Mobility (AAM) to provide about groundbreaking mobility solutions, although pursuing open up innovation to introduce potential mobility companies. In pursuit of sustainable upcoming for the world, Hyundai will go on its attempts to introduce zero emission automobiles geared up with business-main hydrogen gasoline cell and EV systems.

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