Advent Technologies Holdings, Inc. signed a Memorandum of Understanding (MoU) with DEPA Commercial S.A (the leading importer of pipeline gas and liquefied natural gas (LNG) in Greece) to enter into a strategic collaboration on hydrogen projects of common interest.
The MoU sets out the framework for a forthcoming mutually binding agreement. The parties have preliminarily agreed to the following actions:
- Collaborate on producing environmentally friendly hydrogen as a fuel with the participation of other major industrial partners.
- Co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90% and with multi-fuel operating capabilities (hydrogen, natural gas, efuels) that can address the key current, future, and on-grid, off-grid operation modes and business cases.
- Create an innovation hub for the Greek hydrogen and fuel cell industry and develop synergies for promoting hydrogen and related technologies.
Dr Konstantinos Xifaras, DEPA’s CEO, said, “Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country. DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint.”
Dr Vasilis Gregoriou, Advent’s Chairman and CEO, said, “We look forward to a long-term cooperation with DEPA in an effort to jointly accelerate Greece’s transition to clean energy production and transport and to further strengthen our