Advent Technologies Holdings, Inc., through its Greek subsidiary Advanced Energy Technologies SA, has secured a grant from the EU Innovation Fund for the RHyno Project. This initiative aims to develop innovative fuel cells, electrolysers, and key components at a megawatt scale, leveraging Advent's Membrane Electrode Assembly technology. The project targets enhancing power density, lifespan, and reducing the weight of power systems, focusing on decarbonizing industries like aviation and automotive sectors. The company is expected to sign the grant agreement in the first quarter of 2025, accelerating its efforts in clean tech manufacturing. The EU Innovation Fund, a significant program for low-carbon technologies, selected Advent's RHyno Project as one of the 85 recipients of grants from the 2023 Call. This recognition places Advent at the forefront of the clean energy transition, emphasizing its commitment to decarbonizing Europe and supporting climate neutrality. Additionally, the Innovation Fund aims to promote the industrial deployment of innovative solutions, aligning with Advent's focus on driving advancements in fuel cell and hydrogen technology. Advent Technologies Holdings, headquartered in the U.S., with operations also in Greece, specializes in fuel cell, methanol, and hydrogen technologies. With a strong focus on developing the Membrane Electrode Assembly and fuel cell stack, Advent plays a crucial role in enabling the use of green eFuels and renewable energy sources. The company's expertise, highlighted by over 100 patents related to HT-PEM fuel cell technology, positions it as a key player in the sustainable energy sector, contributing to the global shift towards cleaner energy alternatives.