BOSTON - Advent Technologies Holdings, Inc. (NASDAQ:ADN), a company specializing in fuel cell and hydrogen technology, has announced its subsidiary, Advent Technologies A/S, has obtained funding approval for a new research and development initiative. The project, named 'Modular Efficient Power Generation with Advanced Fuel Cell Power Converters', has been granted approximately $1.83 million by the Danish Energy Technology Development and Demonstration Program (EUDP).
EUDP, a Danish entity that aids private companies and universities in advancing innovative energy technologies in line with EU state aid regulations, will support the project, which is set to commence in the second quarter of 2024 and will span three years. Partners in this endeavor include Aalborg University's Department of Energy, TKT Electronics ApS, and DanTrafo A/S.
The project's goal is to create a novel modular, scalable, and high-density DC-DC power converter tailored for Advent's next-generation High-Temperature Proton Exchange Membrane (HT-PEM) fuel cell applications. These fuel cells, leveraging Advent's proprietary Ion-Pair™ Membrane Electrode Assembly (MEA) technology, promise to triple the expected lifespan of fuel cells and double the power density compared to the company's previous models. This advancement positions the technology as suitable for heavy-duty mobility applications.
Manufacturing of these systems is planned to occur in Kozani, Greece, as part of the Green HiPo IPCEI Project, an EU-approved initiative focused on developing HT-PEM fuel cell and electrolyzer systems for power and hydrogen production. This project is expected to play a significant role in transitioning Western Macedonia from a coal-based economy to a more sustainable economic model, with the Kozani facility being the production center.
Morten Sørensen, Senior Vice President of Advent Technologies A/S, expressed gratitude to EUDP for their trust and looked forward to collaborating with the project partners. He emphasized the potential of HT-PEM fuel cell technology to decarbonize sectors previously resistant to change.
This information is based on a press release statement.
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