Introduction Systems and Alfa Laval Companion in Maritime Fuel Mobile Growth Job

BOSTON, January 10, 2023–(Business WIRE)–Advent Systems Holdings, Inc. (NASDAQ: ADN) (“Arrival” or the “Firm”), an innovation-pushed leader in the gas mobile and hydrogen technological innovation sectors, is pleased to announce that it will collaborate with Alfa Laval, a global provider of warmth transfer, separation, and fluid dealing with products and solutions, on a job to examine applications of Advent’s methanol-driven high-temperature proton trade membrane (HT-PEM) fuel cells in the maritime field.

Funded by the Danish Electricity Technologies Progress and Demonstration Plan (“EUDP”), the challenge is a joint effort and hard work among Advent, Alfa Laval and a team of Danish shipowners. The task will aim on screening Advent’s methanol-powered HT-PEM gas cells as a source of maritime auxiliary power. In the course of the class of the task, the fuel cell process will bear a chance assessment by a leading global classification modern society.

At the exact same time, the venture aims to integrate the future era of Advent’s gasoline cells. These fuel cells will be based on Advent’s up coming-generation membrane electrode assembly, which is at the moment getting created within the framework of L’Innovator, the Company’s joint development method with the U.S. Department of Energy’s Los Alamos Countrywide Laboratory, Brookhaven National Laboratory, and the Nationwide Renewable Vitality Laboratory. Aiming to satisfy the at any time-rising electrical power requirements of the maritime sector, Advent’s future-technology fuel cells are predicted to exhibit a important improve in life time, effectiveness, and electrical output.

Advent’s technological innovation allows its gasoline cells to work at superior temperatures of between 160°C and 220°C and serve as a responsible resource of on-demand electric power across several apps and industries, like shipping, electrical power generation and weighty-duty mobility. The Firm’s HT-PEM technologies can use minimal-charge and abundant hydrogen-provider fuels, like methanol, e-methanol and biomethanol. Methanol in specific has captivated significant curiosity as a long run gasoline for the maritime sector, and Advent’s HT-PEM gas cells run flawlessly on methanol, applying an built-in reformer.

Dr. Vasilis Gregoriou, Advent Technologies’ Chairman and Chief Govt Officer, commented: “The Advent team is devoted to accelerating the decarbonization of the transport field. Our Serene gasoline cells operate on methanol – a clean alternative to fossil fuels – which is safer to cope with than hydrogen fuel and can be simply deployed on-web-site. More than the earlier months, we have gained significant curiosity from the marine business for our methanol-driven fuel cells. This provides us optimism about the future and our contribution to the industry’s purpose of internet zero by 2050. We glance forward to the thriving completion of this really ground breaking EUDP-funded venture and more progressing our collaboration with Alfa Laval.”

Jeroen van Riel, Alfa Laval’s Enterprise Progress Manager for Maritime Energy Remedies, said: “We are psyched to see the end result of this promising collaboration with Introduction, an skilled partner with ground breaking gas mobile merchandise deployed in the industry right now. We are convinced that HT-PEM engineering has great maritime prospective and look forward to even further exploring Advent’s differentiated technology as the marine business moves toward decarbonization.”

Morten Hougaard Sørensen, Introduction Technologies’ Senior Vice President extra: “We would like to thank Alfa Laval for their commitment to partnering with our substantial abilities and proprietary technologies to travel a maritime gas cell option. The Advent crew envisions methanol, biomethanol, and e-methanol as the fuels of the upcoming in delivery. We are delighted that Alfa Laval endorses this perspective. We hope this venture is the dawn of a prolonged and effective collaboration that will help a a lot quicker transition to a clear energy transport sector.”

About Advent Systems Holdings, Inc.

Arrival Technologies Holdings, Inc. is a U.S. company that develops, manufactures, and assembles total gasoline cell units as well as supplying buyers with significant elements for gasoline cells in the renewable energy sector. Introduction is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With additional than 150 patents issued, pending, and/or accredited for gas mobile engineering, Advent retains the IP for following-generation HT-PEM that allows numerous fuels to perform at higher temperatures and beneath severe circumstances – featuring a flexible gas possibility for the automotive, aviation, defense, oil and fuel, maritime, and power generation sectors. For far more info, visit www.arrival.energy.

About Alfa Laval

Alfa Laval is a earth leader in heat transfer, centrifugal separation, and fluid handling. It is active in Power, Maritime, and Food stuff & Water, presenting its know-how, goods, and support to a extensive vary of industries in some 100 countries. The organization is dedicated to optimizing processes, producing accountable progress, and driving progress to aid clients in attaining their business enterprise aims and sustainability targets.

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This press release consists of ahead-searching statements. These forward-on the lookout statements normally can be discovered by the use of words this kind of as “anticipate,” “count on,” “approach,” “could,” “could,” “will,” “imagine,” “estimate,” “forecast,” “objective,” “challenge,” and other terms of identical which means. Each individual forward-hunting statement contained in this push release is topic to challenges and uncertainties that could lead to actual final results to differ materially from individuals expressed or implied by these types of statement. Relevant pitfalls and uncertainties incorporate, among other folks, the Company’s means to preserve the listing of the Company’s widespread inventory on Nasdaq upcoming economic functionality public securities’ probable liquidity and trading effects from the outcome of any known and unidentified litigation capability to forecast and maintain an enough rate of income growth and properly approach its expenditures anticipations concerning foreseeable future expenditures long run mix of profits and result on gross margins attraction and retention of skilled administrators, officers, employees and critical personnel means to compete correctly in a competitive sector capability to guard and increase Advent’s corporate popularity and model expectations about its relationships and steps with technology companions and other third events effect from long term regulatory, judicial and legislative modifications to the business potential to locate and purchase complementary technologies or products and services and combine those into the Company’s business enterprise foreseeable future preparations with, or investments in, other entities or associations and powerful levels of competition and competitive force from other corporations around the globe in the industries in which the Company will work and the threats determined less than the heading “Hazard Aspects” in Advent’s Once-a-year Report on Kind 10-K filed with the Securities and Trade Commission (“SEC”) on March 31, 2022, as very well as the other data submitted with the SEC. Investors are cautioned not to area sizeable reliance on the forward-hunting statements contained in this push launch. You are inspired to browse Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press launch discuss only as of the date of this document, and the Corporation undertakes no obligation to update or revise any of these statements. Advent’s enterprise is matter to substantial challenges and uncertainties, together with all those referenced over. Traders, possible buyers, and other people really should give mindful thing to consider to these pitfalls and uncertainties.

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Contacts

Advent Systems Holdings, Inc.
Elisabeth Maragoula/Michael Trontzos
[email protected]