BOSTON / Aug 31, 2023 / Business Wire / Advent Technologies Holdings, Inc. (NASDAQ: ADN), an innovation-driven leader in the fuel cell and hydrogen technology sectors, is pleased to announce that it has received the esteemed Richard P. Feynman Innovation Prize for Technology Transfer Excellence from the U.S. Department of Energy’s Los Alamos National Laboratory.

This year, the Richard P. Feynman Innovation Prizes have honored remarkable achievements in technology transfer poised for commercialization. The recognition spans across diverse domains such as hydrogen fuel cell systems, sustainable energy solutions, and forensic science. The award ceremony took place at the SALA Event Center in Los Alamos on August 30th, featuring Dr. Thom Mason, Director of Los Alamos National Laboratory, as the keynote speaker.

This accolade directly stems from Advent's active participation in the inaugural L’Innovator™ program. Collaborating with esteemed institutions like Los Alamos National Laboratory, Brookhaven National Laboratory, and the National Renewable Energy Laboratory, Advent leverages the program to reach into advanced technology from top-tier U.S. research institutions. The program's mission revolves around advancing and commercializing ion-pair Membrane Electrode Assembly (“MEA”) technology.

MEAs significantly influence the performance, longevity, efficiency, weight, and cost of fuel cells. Through L’Innovator, Advent and U.S. national laboratory researchers have successfully dealt with the common challenges in the product development cycle, and subsequently established domestic manufacturing capabilities. This initiative advances innovative technology and supports commercial success, as well as having a key role in strengthening the domestic supply chain and promoting the adoption of clean hydrogen technology to help achieve U.S. greenhouse gas emission targets.

Advent's groundbreaking Ion-Pair™ MEA technology positions the Company as a frontrunner in transforming global MEA markets. Advent’s Ion-Pair MEAs have already demonstrated an increase in operational lifetimes as well as operating at far higher current densities compared with high-temperature PBI-based MEAs. Thus, Advent’s Ion-Pair powered fuel cells are well suited for demanding applications such as heavy-duty mobility.

Present at the prestigious award ceremony was Advent's Chief Technology Officer, Dr. Emory De Castro, who remarked, "We are honored to receive the Richard P. Feynman Innovation Prize for Technology Transfer Excellence. This award reflects the dedication of our team and the collaboration with esteemed institutions in the L’Innovator program. Our gratitude extends to the U.S. Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and the National Renewable Energy Laboratory for their partnership. Through L’Innovator, we have expanded our horizons, entering markets previously inaccessible with existing HT-PEM materials. The potential for the Advent Ion Pair MEA technology to revolutionize the fuel cell industry and drive global sustainable energy solutions is truly exciting."

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, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent’s corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in Advent’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.