Advent Technologies signs €34.5M EU Innovation Fund grant for RHyno hydrogen project

ADVENT TECHNOLOGIES HOLDINGS, INC.

Signed grant agreement with CINEA for €34,534,318 non-dilutive funding from EU Innovation Fund.
Funding received incrementally upon completion of performance milestones over project lifetime.
RHyno project aims to develop fuel cells, electrolysers, and MEA technology at MW scale for decarbonization.
Advent's proposal ranked highest among 337 submissions in Innovation Fund 2023 Call across Europe.
Project to be executed by Advent's Greek subsidiary Advanced Energy Technologies S.A. and supported by PwC Greece.

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