Advent Technologies and DEPA Commercial to collaborate on hydrogen techAugust 16, 2022
The companies will be working together to move fuel cell and H2 forward in alternative energy.
Advent Technologies Holdings, Inc. and DEPA Commercial have announced that they have signed a memorandum of understanding (MoU) to work together on hydrogen tech.
The companies chose to enter into a strategic collaboration on common interest H2 projects.
The fuel cell and hydrogen tech leader will work with the Greek leading importer of pipeline gas and liquefied natural gas (LNG). The MoU provides an outline for the way they will function together in an upcoming mutually binding agreement. Both companies have already given their preliminary agreement to a number of key actions. These include:
- Collaboration on the production of clean H2 as a fuel while working with other major industrial partners.
- Co-development of a highly differentiated proprietary CHP system ready for mass production with a near 90 percent efficiency and with multi-fuel operating capabilities (such as H2, natural gas and e-fuels). This will need to address both the current and future of both on- and off-grid operation modes and business applications.
- Creation of Greek H2 and fuel cell industry innovation hub and the development of synergies for the promotion of this fuel and its related technologies.
The hydrogen tech agreement could help the clean fuel to take another step forward in the Greek market.
“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,” said Dr. Konstantinos Xifaras, CEO at DEPA. “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.”
“We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece’s energy future,” added Dr. Vasilis Gregoriou, CEO and Chair at Advent in a recent news release about the hydrogen tech collaboration. “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.”