Advent Technologies Holdings, Inc., based in Livermore, California, has announced a significant development in securing financial support for its fuel cell and hydrogen technology endeavors. The company has entered into a Securities Purchase Agreement with an institutional investor, resulting in a $1,000,000 loan. Additionally, upon filing a Registration Statement for a public offering, Advent will receive a one-year revolving line of credit amounting to $2,000,000. The purpose of this funding is to aid the company in various corporate expenses, including the preparation of its Annual Report and supporting a public offering of common stock. The loan, which carries an 18% interest rate, mandates a reduction in the CEO's salary by at least 50%, along with other employees of the company. The completion of the transaction is contingent upon fulfilling certain conditions, such as filing the 2023 annual report, significant board changes with resignations and new appointments, including the addition of three board members designated by the investor. Dr. Vasilis Gregoriou, Chairman and CEO of Advent, expressed confidence in the company's fuel cell technology's potential to decarbonize challenging industrial sectors. The new funding and board members are seen as pivotal in advancing their mission. Advent Technologies Holdings, Inc. specializes in developing, manufacturing, and assembling fuel cell systems and components for the renewable energy sector. The company's focus on next-generation HT-PEM technology aims to enable various fuels to operate efficiently in demanding conditions across multiple industries. The press release also includes a cautionary note regarding forward-looking statements, highlighting the risks and uncertainties inherent in such projections and the importance of considering these factors for investors and stakeholders.