BOSTON, April 06, 2022–(Enterprise WIRE)–Advent Systems Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Corporation”), an innovation-driven leader in the gasoline mobile and hydrogen technological know-how sectors, is delighted to announce the signing of a technologies evaluation, revenue, and enhancement settlement with Hyundai Motor Company (“Hyundai”), a main multinational automotive manufacturer supplying a vary of entire world-class automobiles and mobility solutions in above 200 countries.
Advent and Hyundai purpose to provide environmentally friendly strength methods to present substantial carbon programs, employing gasoline cell technologies. Less than the arrangement, Hyundai will supply catalysts to Introduction for evaluation in its proprietary Membrane Electrode Assemblies (“MEAs”), when Advent intends to help Hyundai in fulfilling its gasoline mobile venture needs, through:
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Building inks and constructions applying IFAT catalysts, which will then be evaluated by IFAT. Next analysis, Hyundai will figure out regardless of whether IFAT or conventional catalysts will be applied for this project.
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Supplying MEAs throughout the progress/commercialization cycle (“Arrival MEAs”) for testing, analysis, and optimization below circumstances established by Hyundai.
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Helping Hyundai with the use and requirements of MEAs as very well as their implementation into Hyundai’s layouts.
Following the completion of the first period of the undertaking, the companies will collaborate closely to set out distinct product requirements, collaborative product or service targets, as properly as milestones for acquiring established plans and strategies for stage 2, which shall also include Advent’s stack cooling technologies.
The new Introduction MEAs to be examined by Hyundai are now getting designed inside of the framework of L’Innovator, Advent’s joint progress application with the U.S. Division of Energy’s Los Alamos Nationwide Laboratory, Brookhaven Countrywide Laboratory, and Countrywide Renewable Electrical power Laboratory. MEAs are the most critical elements of a fuel cell as they considerably determine the performance, life span, bodyweight, and charge of the stop process.
Arrival MEAs work at a higher temperature (80oC to 240oC) compared to the incumbent minimal temperature PEM engineering, which is limited to an operating temperature of down below 100oC. The ability to function at a high temperature confers considerable positive aspects this kind of as the successful warmth removal in hefty-obligation mobility applications, earning Advent’s high temperature PEM an excellent technological innovation for vehicles, aviation, and maritime purposes. Advent’s MEAs can operate successfully with fuels these kinds of as impure hydrogen which can be reformed on-board from methanol, normal gas, and other renewable fuels. Advent’s MEAs are also resilient to intense temperature versions, humidity, and air high quality conditions.
Dr. Emory De Castro, Advent’s Chief Technologies Officer, said, “We are psyched and proud to be a part of forces with Hyundai, aiming to greatly contribute to their mission and to jointly participate in the pivotal purpose to changeover worldwide modern society to clean strength, consequently producing hydrogen an economically feasible vitality supply. MEAs kind the heart of the gasoline cell and they are also a significant part for other electrochemistry purposes, this kind of as CO2-free of charge hydrogen generation, and, strength storage. We hope our proprietary MEAs will finest serve Hyundai’s business enterprise demands and search ahead to a lengthy and very profitable collaboration, sharing our extensive-standing experience to support Hyundai in bringing its long term mobility method to life.”
About Arrival Technologies Holdings, Inc.
Advent Systems Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles comprehensive fuel cell devices, and the critical components for fuel cells in the renewable vitality sector. Arrival is headquartered in Boston, Massachusetts, with workplaces in California, Greece, Denmark, Germany, and the Philippines. With a lot more than 100 patents issued for its gasoline mobile engineering, Arrival retains the IP for next-technology HT-PEM that permits many fuels to functionality at superior temperatures and under severe disorders – giving a adaptable “Any Fuel. Anywhere.” option for the automotive, aviation, defense, oil and fuel, maritime, and electricity technology sectors. For far more information and facts, visit www.advent.strength.
Cautionary Note Pertaining to Ahead-Searching Statements
This push release incorporates ahead-on the lookout statements. These ahead-seeking statements typically can be identified by the use of words this kind of as “anticipate,” “anticipate,” “strategy,” “could,” “may possibly,” “will,” “consider,” “estimate,” “forecast,” “goal,” “project,” and other phrases of comparable this means. Every forward-on the lookout statement contained in this press release is issue to risks and uncertainties that could induce genuine effects to differ materially from those expressed or implied by such statement. Applicable threats and uncertainties include things like, between others, the Company’s capability to maintain the listing of the Company’s prevalent inventory on Nasdaq potential economic efficiency public securities’ potential liquidity and investing influence from the result of any regarded and unknown litigation means to forecast and preserve an sufficient fee of profits expansion and appropriately system its bills expectations regarding upcoming expenditures potential combine of income and impact on gross margins attraction and retention of skilled directors, officers, staff members and essential personnel means to compete correctly in a aggressive marketplace potential to shield and greatly enhance Advent’s company status and model expectations concerning its associations and actions with technological innovation companions and other third events impression from long run regulatory, judicial and legislative improvements to the marketplace ability to find and receive complementary systems or companies and integrate people into the Company’s organization long run preparations with, or investments in, other entities or associations and intensive competitors and aggressive tension from other firms all over the world in the industries in which the Business will operate and the risks identified below the heading “Chance Variables” in Advent’s Once-a-year Report on Kind 10-K/A submitted with the Securities and Exchange Commission on Might 20, 2021, as well as the other data filed with the SEC. Investors are cautioned not to place significant reliance on the forward-looking statements contained in this push release. You are inspired to go through Advent’s filings with the SEC, out there at www.sec.gov, for a dialogue of these and other challenges and uncertainties. The forward-hunting statements in this push launch 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 organization is topic to considerable threats and uncertainties, together with people referenced over. Traders, possible traders, and many others really should give watchful thing to consider to these challenges and uncertainties.
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Contacts
Arrival Systems Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
[email protected]
