Advent Technologies Holdings, Inc., a key player in fuel cell and hydrogen technology sectors, has provided an update on its plan to streamline operations for achieving profitability. The company aims to significantly reduce operational and facility expenses, targeting total costs below $24 million in 2024, reflecting a nearly 50% reduction from the previous year. By achieving a combined income of $13 million in 2024, with a substantial portion coming from customer revenue and R&D grants, Advent is focused on reaching break-even by the end of 2025. Following the acquisitions of Serenergy and Ultracell, Advent decided to consolidate its operations by eliminating facilities in Boston and Germany, alongside reducing its presence in the Philippines. The company's headquarters and USA operations will be consolidated at its facility in Livermore, California, aiming to streamline efforts and minimize costs. Through successful steps to reduce cash burn and secure government funding for various programs, including the Green Hipo IPCEI project, Advent remains confident in its growth strategy. Dr. Vasilis Gregoriou, the Chairman and CEO of Advent, emphasized the commitment to cost reduction, operational efficiency, and the transformative potential of their fuel cell technology in decarbonizing industries. The company anticipates publishing its financial results for 2023 soon and continues to drive innovation in fuel cell systems and critical components for renewable energy applications. Advent's strategic partnerships with key industry players like Airbus, Hyundai, US Army, and Siemens Energy further support its path towards profitability. Despite existing risks and uncertainties in the industry, Advent remains optimistic about its future prospects.