Advent Technologies Announces Successful Installation of Advent Fuel Cell System in Philippine Telecommunications Industry


BOSTON–(COMMERCIAL THREAD) – Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent”) today announced that with its partner Smart Communications Inc. (“Smart”), the company has successfully completed the first installation of its HG 5000 fuel cell systems across the Philippines. The delivery agreement was reached earlier this year between Smart in the Philippines and Advent Technologies A / S in Denmark (formerly SerEnergy A / S).

Smart’s partnership with Advent follows its engagement in the United Nations Race to Zero campaign with the GSM Association (GSMA), as a member of the trade alliance’s climate action working group. The movement of the global mobile network operator industry highlights its general commitment to zero emissions by all stakeholders. Race to Zero is a global campaign that aims to mobilize leadership and support from businesses, cities, regions and investors for net zero carbon emissions by 2050.

Dr Vasilis Gregoriou, Chairman and CEO of Advent Technologies Holdings, said: “The successful deployment of our fuel cell systems is a big step forward in showing our commitment to decarbonizing the world at a faster and more efficient rate. Our work is part of initiatives such as the United Nations Race to Zero campaign; and we are proud to implement our CO2 reduction technologies at Smart’s telecom sites in the Philippines.

As the wireless arm of the Philippines’ largest fully integrated telecommunications company, PLDT Inc., the switch from Smart to green power follows the Philippines Department of Energy’s announcement in the fourth quarter of 2020 that the government will no longer accept proposals to build new coal-fired power plants. , of the new Energy Conservation and Efficiency Law enacted in 2019. These important policy changes support the deployment of cleaner energy sources to help ensure more sustainable growth for the country.

Morten Hougaard Sørensen, Senior Vice President of Advent Technologies A / S, added: “We are proud that Smart has chosen our clean energy technology to pursue the use of renewable energies in their facilities and simultaneously solve their challenges for 5G requirements, as our systems provide them with an easily scalable solution with cost effective extension of the execution time. Our fuel cells are the next step for customers in the green transition. We welcome customers who care about their business. We welcome customers who care about their climate responsibility. We welcome customers who take action. Together we make it happen. ”

Alfredo S. Panlilo, President and CEO of Smart Communications and Chief Revenue Officer of PLDT, said: “PLDT and Smart are active advocates of sustainable development. As we face daunting challenges of how to protect our environment and promote more equitable social development, Smart’s advanced technologies can play an important role in rallying the right socio-environmental mindset and promote a greater sense of responsibility towards the planet.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a US company that develops, manufactures and assembles complete fuel cell systems and critical fuel cell components in the renewable energy industry. Advent is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With over 100 patents issued for its fuel cell technology, Advent owns the intellectual property for the next generation HT-PEM that enables various fuels to operate at high temperatures under extreme conditions – providing a flexible ‘N’ solution. any fuel. Anywhere. ”Option for the automotive, aviation, defense, oil and gas, marine and power generation industries. For more information, visit www.advent.energy .

About Smart Communications, Inc.

Smart Communications, Inc. (Smart) is a wholly owned wireless communications and digital services subsidiary of PLDT, Inc., the largest and only integrated telecommunications company in the Philippines. Smart serves approximately 95% of the country’s cities and municipalities through its combined 2G, 3G, 4G LTE and 5G * network, providing mobile communications services, high-speed Internet connectivity and access to digital services and content to over 72 , 9 million Filipinos *, through its Smart and TNT trademarks. Smart also offers satellite communication services under the Smart World brand. As part of PLDT’s massive digital transformation agenda, Smart is committed to giving over 96% of the population access to its most advanced LTE-A and 5G networks, in order to support the growing digital economy of the country, as well as providing the best customer experience for an increasingly digital Filipino lifestyle.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements can generally be identified by the use of words such as “anticipate”, “expect”, “” ” ” ” ”. “,” Objective “,” project “and other words with similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied by such statement. The applicable risks and uncertainties include, among others, the ability of the Company to maintain the listing of the Company’s common shares on the Nasdaq; future financial performance; the potential liquidity and trading of government securities; the impact of the outcome of any known and unknown litigation; the ability to forecast and maintain an adequate rate of income growth and to properly plan expenses; expectations about future spending; future composition of sales and effect on gross margins; attracting and retaining qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations regarding our relationships and actions with our technology partners and other third parties; the impact of future regulatory, judicial and legislative changes on the industry; ability to locate and acquire complementary technologies or services and integrate them into the Company’s activities; future agreements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies around the world in the industries in which the Company will operate; and the risks identified under “Risk Factors” in our annual report on Form 10-K / A filed with the Securities and Exchange Commission on May 20, 2021, as well as other information that we file with the SEC. We caution investors not to place significant reliance on any forward-looking statements contained in this press release. We encourage you to read our SEC filings, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements contained in this press release speak only as of the date of this document, and we assume no obligation to update or revise any such statements. Our business is subject to significant risks and uncertainties, including those mentioned above. Investors, potential investors and others should carefully consider these risks and uncertainties.

About Shirley L. Kreger

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