BOSTON, April 06, 2022–(Enterprise WIRE)–Advent Systems Holdings, Inc. (NASDAQ: ADN) (“Arrival” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technological innovation sectors, is happy to announce the signing of a engineering evaluation, revenue, and improvement settlement with Hyundai Motor Enterprise (“Hyundai”), a foremost multinational automotive manufacturer presenting a selection of planet-course cars and mobility products and services in about 200 international locations.
Introduction and Hyundai aim to provide environmentally friendly vitality solutions to existing higher carbon purposes, making use of gas cell technologies. Beneath the agreement, Hyundai will deliver catalysts to Introduction for evaluation in its proprietary Membrane Electrode Assemblies (“MEAs”), even though Advent intends to guidance Hyundai in fulfilling its gasoline mobile job requires, by means of:
Building inks and buildings using IFAT catalysts, which will then be evaluated by IFAT. Pursuing evaluation, Hyundai will decide regardless of whether IFAT or normal catalysts will be applied for this venture.
Supplying MEAs during the development/commercialization cycle (“Advent MEAs”) for screening, evaluation, and optimization less than disorders established by Hyundai.
Aiding Hyundai with the use and requirements of MEAs as perfectly as their implementation into Hyundai’s patterns.
Adhering to the completion of the to start with section of the venture, the firms will collaborate closely to established out specific product needs, collaborative product or service aims, as very well as milestones for achieving established plans and strategies for stage 2, which shall also incorporate Advent’s stack cooling know-how.
The new Introduction MEAs to be analyzed by Hyundai are currently getting formulated within just the framework of L’Innovator, Advent’s joint growth software with the U.S. Division of Energy’s Los Alamos Nationwide Laboratory, Brookhaven National Laboratory, and Countrywide Renewable Vitality Laboratory. MEAs are the most significant parts of a gas cell as they significantly determine the performance, lifetime, fat, and cost of the finish procedure.
Advent MEAs run at a superior temperature (80oC to 240oC) in contrast to the incumbent low temperature PEM know-how, which is restricted to an operating temperature of beneath 100oC. The potential to run at a substantial temperature confers important rewards these types of as the efficient warmth elimination in hefty-obligation mobility applications, creating Advent’s superior temperature PEM an great technological innovation for vehicles, aviation, and marine purposes. Advent’s MEAs can operate efficiently with fuels these kinds of as impure hydrogen which can be reformed on-board from methanol, normal gas, and other renewable fuels. Advent’s MEAs are also resilient to serious temperature variations, humidity, and air high quality situations.
Dr. Emory De Castro, Advent’s Chief Engineering Officer, said, “We are enthusiastic and very pleased to join forces with Hyundai, aiming to drastically add to their mission and to jointly take part in the pivotal position to changeover world society to clean up electricity, hence generating hydrogen an economically practical electrical power resource. MEAs type the coronary heart of the gasoline mobile and they are also a critical ingredient for other electrochemistry apps, this kind of as CO2-no cost hydrogen creation, and, electricity storage. We hope our proprietary MEAs will most effective serve Hyundai’s enterprise desires and search ahead to a extended and remarkably thriving collaboration, sharing our lengthy-standing abilities to assistance Hyundai in bringing its foreseeable future mobility method to existence.”
About Arrival Systems Holdings, Inc.
Arrival Systems Holdings, Inc. is a U.S. company that develops, manufactures, and assembles total gas mobile methods, and the critical factors for gas cells in the renewable electrical power sector. Introduction is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With additional than 100 patents issued for its gas cell technological know-how, Advent retains the IP for next-era HT-PEM that allows various fuels to purpose at higher temperatures and less than serious disorders – giving a flexible “Any Gasoline. Any place.” choice for the automotive, aviation, protection, oil and fuel, marine, and electric power technology sectors. For additional facts, stop by www.introduction.electrical power.
Cautionary Observe Pertaining to Forward-On the lookout Statements
This push release involves forward-searching statements. These forward-hunting statements typically can be identified by the use of terms these types of as “anticipate,” “expect,” “program,” “could,” “may possibly,” “will,” “think,” “estimate,” “forecast,” “purpose,” “venture,” and other phrases of equivalent indicating. Each forward-hunting statement contained in this press launch is subject matter to risks and uncertainties that could result in actual effects to vary materially from individuals expressed or implied by these kinds of assertion. Applicable risks and uncertainties incorporate, between many others, the Company’s skill to retain the listing of the Company’s typical stock on Nasdaq future monetary functionality community securities’ probable liquidity and trading impression from the end result of any recognised and unidentified litigation ability to forecast and keep an ample fee of revenue progress and appropriately approach its costs anticipations about long run expenditures upcoming mix of revenue and outcome on gross margins attraction and retention of experienced administrators, officers, employees and important personnel potential to compete properly in a competitive sector capability to secure and enhance Advent’s company popularity and brand expectations regarding its relationships and steps with know-how associates and other third events impression from foreseeable future regulatory, judicial and legislative adjustments to the sector means to track down and purchase complementary technologies or services and integrate these into the Company’s organization long run preparations with, or investments in, other entities or associations and rigorous level of competition and competitive strain from other businesses around the world in the industries in which the Enterprise will work and the challenges discovered less than the heading “Risk Variables” in Advent’s Annual Report on Variety 10-K/A submitted with the Securities and Trade Fee on May perhaps 20, 2021, as effectively as the other information filed with the SEC. Buyers are cautioned not to area sizeable reliance on the forward-searching statements contained in this press release. You are inspired to study Advent’s filings with the SEC, readily available at www.sec.gov, for a discussion of these and other pitfalls and uncertainties. The ahead-seeking statements in this press release talk only as of the day of this doc, and the Company undertakes no obligation to update or revise any of these statements. Advent’s business enterprise is issue to significant risks and uncertainties, like individuals referenced above. Traders, likely investors, and others should give cautious thought to these threats and uncertainties.
See source model on businesswire.com: https://www.businesswire.com/news/household/20220406005641/en/
Introduction Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
[email protected] power