Advent Technologies Holdings, Inc. (NASDAQ: ADN) shares were static Wednesday. The Livermore, Calif.-based company, claiming to be an innovation-driven leader in the fuel cell and hydrogen technology space, is pleased to announce that it has received the go-ahead decision from Airbus, a leading aircraft manufacturer, to proceed with Phase Two of the parties’ joint benchmarking project for an optimized Ion Pair™ Membrane Electrode Assembly for hydrogen fuel cells. Having demonstrated continued improvement in Ion Pair™ MEA performance in Phase One, the parties seek to further optimize performance in Phase Two.
Advent has invested in people, materials, hardware, and third party research centers, to contribute to the goals of the project. The collaboration enters Phase Two immediately. The parties are also in related discussions about sharing know-how, fuel cell stack design, recommendations on balance of plant materials and components, and fuel cell test stations.
The goal of the project is to accelerate the development of Advent’s MEA and benchmark the Ion Pair MEA against aviation requirements and current/expected technological limits.
HT-PEM MEAs operating at temperatures higher than 180 °C (360°F) aim to solve one of the largest challenges in aviation fuel cell use: thermal management. High-temperature fuel cells allow increased performance, increased passenger carrying capability, and increased range compared to low-temperature fuel cell stack technology. Advent is of the opinion that HT-PEM is a superior option not only for aviation, but also for heavy-duty trucks, the automotive industry and marine use.
ADN shares closed Tuesday at $5.00.
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