December 4, 2023

Technology Development

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Hyundai Motor Corporation and Arrival Technologies Signal Joint Growth Agreement Following Prosperous Fuel Mobile Know-how Assessment

BOSTON, MA / SEOUL, March 23, 2023 – Hyundai Motor Organization currently announced a effective technological innovation assessment with Introduction Technologies Holdings, Inc. (“Advent”), an innovation-pushed leader in the fuel mobile and hydrogen know-how sectors. The assessment evaluated Advent’s proprietary Membrane Electrode Assembly (“MEA”) technological innovation for providing Hyundai’s substantial-temperature gas mobile wants, and pursuing its achievements, the two firms have entered into a Joint Growth Agreement (“JDA”).


The signing ceremony took position on March 22, 2023, at Advent’s headquarters in Charlestown, Massachusetts, and bundled senior executives from each organizations. Less than the arrangement, Hyundai and Introduction will perform with each other to further more produce HMC-Advent Ion Pair™ MEA, establish commercial standards for MEA supply, and assess Advent’s state-of-the-art fuel mobile technology for Hyundai’s hefty-obligation and/or stationary application. Additionally, the events will introduce advanced cooling systems for mobility high-temperature proton trade membrane (HT-PEM) gasoline mobile stacks. Advent will get the job done closely as Hyundai evaluates these stack cooling technologies and make certain optimal overall performance below distinct functioning disorders.


This partnership builds upon a determination from equally businesses to build sustainable power solutions for carbon-intensive apps. Hyundai aims to accelerate the establishment of a hydrogen-based mostly modern society primarily based on its vision, Development for Humanity, and this JDA aligns with that vision. The synergy produced by combining the two companies’ superior technological know-how in this JDA is envisioned to revolutionize the global MEA industry by supplying substantial advancement in lifetime and an boost in electric power density as opposed to current HT-PEM MEAs.


“The Arrival staff all over the world is proud and fired up to enter into the up coming stage of a highly promising collaboration with Hyundai, with modern JDA signing at our Hood Park facility in Charlestown, MA. By this collaboration, we purpose to speed up the change towards sustainable electricity and enable condition a cleaner, more productive long term by assisting Hyundai in bringing its long term mobility technique to everyday living,” reported Dr. Vasilis Gregoriou, Chairman and CEO of Introduction Systems. “With our widespread target to decarbonize large-duty transport, we are committed to contributing to Hyundai’s aim of constructing ground breaking, superior-overall performance gasoline mobile options that will make a major impression in reducing greenhouse fuel emissions.”


“Hyundai is delighted to transfer into the next step of its collaboration with Introduction, a primary firm in the HT-PEM space. The Ion Pair™ HMC-Arrival MEA, forming the heart of the fuel mobile, will be formulated by combining the HT-PEM know-how and content know-how of equally functions,” said Seung Hyun Hong, Vice President and Head of the Material Exploration & Engineering Centre at Hyundai Motor Company. “It will verify Hyundai’s higher-temperature pushed substance complex experience and participate in a crucial function in our decarbonization intention and develop greatest-in-class large-temperature gas cells, unlocking a vital stage for more popular adoption of gasoline cell technologies in superior-temperature applications.”


“The effective completion of the Technological innovation Evaluation with Hyundai is a testament to Advent’s technological excellence and marketplace-top expertise in HT-PEM fuel mobile technologies. Our team’s unwavering motivation has been instrumental in conference the intricate necessities of Hyundai’s gasoline mobile initiatives,” additional Dr. Emory De Castro, Chief Technology Officer of Introduction Systems. “Today’s signing ceremony was an outstanding option for us to not only rejoice this crucial milestone but also showcase our freshly opened R&D and Producing facility, wherever we will be producing a array of ground breaking products and solutions, which includes the Ion Pair™ MEAs. As associates, we share a popular goal to decarbonize transportation and bring modern, high-overall performance gas mobile options to the industry. We are energized to create on our effective partnership with Hyundai and proceed our joint efforts to reach this goal.”



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About Hyundai Motor Organization

Proven in 1967, Hyundai Motor Organization is present in more than 200 nations around the world with extra than 120,000 employees committed to tackling real-planet mobility problems all over the world. Dependent on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Alternative Service provider. The company invests in innovative technologies this kind of as robotics and State-of-the-art Air Mobility (AAM) to convey about revolutionary mobility alternatives, when pursuing open up innovation to introduce foreseeable future mobility providers. In pursuit of sustainable long run for the planet, Hyundai will proceed its efforts to introduce zero emission autos geared up with sector-major hydrogen gas mobile and EV systems.

Much more details about Hyundai Motor and its merchandise can be uncovered at: or

About Advent Systems Holdings, Inc.

Arrival Technologies Holdings, Inc. is a U.S. company that develops, manufactures, and assembles complete fuel mobile units as perfectly as providing consumers with crucial factors for gasoline cells in the renewable power sector.  Advent is headquartered in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines.  With much more than 150 patents issued, pending, and/or certified for gas mobile technological innovation, Arrival holds the IP for upcoming-technology HT-PEM that allows many fuels to functionality at superior temperatures and under serious disorders – providing a versatile fuel possibility for the automotive, aviation, protection, oil and fuel, maritime, and energy generation sectors.  For far more details, stop by www.introduction.electricity.

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This push launch includes forward-searching statements.  These forward-seeking statements commonly can be determined by the use of words and phrases these kinds of as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other text of identical meaning.  Each forward-searching assertion contained in this push launch is subject matter to threats and uncertainties that could bring about precise effects to vary materially from those people expressed or implied by these statement.Relevant hazards and uncertainties consist of, amongst others, the Company’s capability to preserve the listing of the Company’s prevalent stock on Nasdaq long run monetary performance public securities’ potential liquidity and trading effects from the final result of any regarded and mysterious litigation capacity to forecast and maintain an ample amount of profits growth and properly prepare its expenses expectations concerning long run expenditures upcoming mix of earnings and result on gross margins attraction and retention of capable administrators, officers, workforce and vital staff capacity to contend effectively in a competitive business means to safeguard and increase Advent’s company popularity and brand anticipations concerning its interactions and steps with technology partners and other 3rd events impression from potential regulatory, judicial and legislative improvements to the marketplace potential to find and purchase complementary systems or products and services and combine all those into the Company’s business enterprise foreseeable future preparations with, or investments in, other entities or associations and rigorous competition and aggressive pressure from other firms throughout the world in the industries in which the Firm will run and the risks discovered less than 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 details submitted with the SEC. Investors are cautioned not to position substantial reliance on the forward-wanting statements contained in this press release. You are encouraged to go through Advent’s filings with the SEC, accessible at, for a dialogue of these and other challenges and uncertainties.  The forward-searching statements in this press release discuss only as of the date of this doc, and the Company undertakes no obligation to update or revise any of these statements. Advent’s small business is subject matter to substantial threats and uncertainties, together with those referenced earlier mentioned.  Investors, prospective traders, and other individuals need to give careful thought to these risks and uncertainties.