Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that it has received a new order from the German State of Brandenburg for its methanol-powered (“Serene”) fuel cell systems as part their three-year agreement which was announced in September 2022. The combined value of the Serene fuel cell systems sold to the German State of Brandenburg now totals approximately $1.6 million.

Advent’s methanol-powered fuel cell systems have been chosen as the back-up power source for the German State of Brandenburg's BOS digital radio network. The fuel cell systems will replace the diesel-driven emergency power systems at several sites, providing a more sustainable and reliable emergency power supply solution. The installations relating to the earlier order will be commissioned within the next three months, with the full roll-out of installations set to take place throughout 2023.

Advent's fuel cells were selected through a tender launched by the German State of Brandenburg in 2022, which sought sustainable and reliable emergency power supply solutions. The BOS digital radio network covers 99.2% of German territory and provides secure communication for first responders and other public safety officials. The network was developed to replace the outdated analogue radio system used for communication in Germany's old public safety and security infrastructure.

Serene fuel cells deliver reliable power in an environmentally friendly manner, reduce CO2 emissions and operate silently, with minimal impact on the surroundings. The use of methanol as a carrier of hydrogen allows for simpler storage than pure hydrogen and enhances the safety of operations. Serene fuel cells offer the potential for a reduction of more than 80% in CO2 emissions compared to diesel generators. With the growth of the green hydrogen sector, Serene fuel cells will accelerate the move towards the generation of net-zero emission electricity through the use of e-methanol as fuel created from green hydrogen.

"We at Advent are proud to continue our partnership with the German State of Brandenburg, showcasing the significance of Advent's HT-PEM fuel cells in fulfilling critical infrastructure power demands worldwide. In the current era, zero-emission back-up power solutions like fuel cells are increasingly crucial for securing a clean and stable energy supply. We look forward to a thriving and successful collaboration with our partner”, stated Dr. Vasilis Gregoriou, Advent Technologies’ Chief Executive Officer and Executive Chairman of the Board.

Sales and Business Development Director of Advent Technologies A/S, Per Burdack, added, "We are thrilled to receive this new order from the German State of Brandenburg and extend our heartfelt gratitude for their continued trust in our products. This order further solidifies our commitment to provide sustainable and reliable energy solutions and to replace diesel-driven emergency power systems with our methanol-powered fuel cell systems in critical infrastructure applications and beyond. We look forward to further developing our partnership with the German State of Brandenburg in 2023."

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With more than 150 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions – offering a flexible fuel option for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

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