Advent Technologies' RHyno Project awarded €34.5 Million by EU Innovation Fund

Core Points - Advent Technologies Holdings, Inc. has received a grant of €34.5 million from the EU Innovation Fund for its RHyno Project, which focuses on fuel cell and hydrogen technology [1][2][6] - The RHyno Project aims to develop infrastructure for manufacturing innovative fuel cells and electrolysers, utilizing advanced Membrane Electrode Assembly technology at a megawatt scale [3][4] - The project is positioned to decarbonize carbon-intensive industries such as aviation, maritime, and heavy-duty automotive sectors, contributing to the clean energy transition [4] Company Overview - Advent Technologies is a U.S. corporation specializing in fuel cell, methanol, and hydrogen technologies, with a focus on developing Membrane Electrode Assembly and fuel cell stacks [7] - The company holds over 100 patents related to HT-PEM fuel cell technology, enabling the use of green eFuels, renewable natural gas, or hydrogen [7] - Advent's fuel cells are designed for various applications, including stationary, portable, and heavy-duty mobility markets [7] Innovation Fund Insights - The Innovation Fund is one of the largest funding programs globally for low-carbon technology demonstration, aimed at supporting Europe's transition to climate neutrality [5] - Advent was the highest-ranked company among all proposals submitted across Europe for the Innovation Fund 2023 Call, with only three companies in Greece receiving funding [5][6]