Advent Technologies Holdings, Inc. announced an agreement with an institutional investor for up to $3 million in debt financing. The deal comprises a $1 million loan and a $2 million revolving line of credit, subject to the company meeting specific conditions regarding a public offering. The loan, with an interest rate of 18% per year, is earmarked for general corporate purposes, including expenses related to the preparation of the company's Annual Report and facilitating a public offering of common stock. As part of the agreement, Advent Technologies must reduce the salary of its Chief Executive Officer and other employees by up to 50%. Additionally, the loan terms mandate changes in the company's board of directors, with the resignation of existing members and the appointment of three nominees chosen by the investor. The company's Chairman and CEO, Dr. Vasilis Gregoriou, expressed confidence in the fuel cell technology's potential to decarbonize difficult sectors. The funding is aimed at advancing Advent's Ion-Pair™ MEA fuel cell technology. The company sees this financial support as crucial for furthering its mission of reducing carbon emissions in challenging industries. With the addition of the new lender and board members, Advent Technologies looks forward to continuing its innovation and growth in the fuel cell and hydrogen technology domains.