Advent Technologies Holdings Inc, an innovator in fuel cell and hydrogen technology recently announced the signing of a Memorandum of Understanding (“MoU”) with DEPA Commercial S.A., an importer of pipeline gas and liquified natural gas in Greece to form a strategic partnership on hydrogen projects with common interests.
The MoU has laid out a framework for a mutually beneficial binding agreement, where both parties have agreed to the following actions:
1. Collaborate on the production of environmentally friendly hydrogen as a fuel with the participation of other major industrial partners.
2. Co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90% and with multi-fuel operating capabilities (hydrogen, natural gas, e-fuels) that can address the key current, future, and on-grid, off-grid operation modes and business cases.
3. Create an innovation hub for the Greek hydrogen and fuel cell industry and develop synergies for promoting hydrogen and related technologies.
DEPA’s CEO, Dr Konstantinos Xifaras, stated: “Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country. DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint. We look forward to working with Advent’s team of experts, contributing to the diversification of the national energy mix and the security of the energy supply while simultaneously strengthening the national economy.”
Dr Vasilis Gregoriou, Advent’s Chairman and CEO added: “We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece’s energy future. DEPA is a trusted partner with significant experience and a strong presence in the energy sector of South East Europe. We look forward to a long-term cooperation with DEPA in an effort to jointly accelerate Greece’s transition to clean energy production and transport and to further strengthen our common presence on the global hydrogen map.”