As a next step, Advent will demonstrate before the European Commission (DG Competition) the economic, environmental, financial, social, technical feasibility of the project and the positive spillover effects to the European economy and society. The projects are part of the “Hydrogen Technologies” IPCEI and will now move towards approval at European Union (“EU”) level. The scope of the programs, as submitted by Advent and the White Dragon consortium of companies, is set to replace Greece’s largest coal-fired plants, with renewable solar energy parks, which will be supported by green hydrogen production (4.65GW), and fuel cell heat and power production (400MW). The White Dragon and Green HiPo projects, each of which prominently features Advent’s innovative fuel cell technology, were among five projects, out of 20 submitted, that received approval and were selected after evaluation by a special Interministerial Committee of Experts. Adonis Georgiadis, and the Greek Minister of Environment, Energy, and Climate Change, Mr. (NASDAQ: ADN) (“Advent” or the “Company”) today announced that its two Greek Important Projects of Common European Interest (“IPCEI”) have been approved by a joint decision by the Greek Minister of Development and Investments, Mr. BOSTON –Advent Technologies Holdings, Inc.
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