Advent Technologies and Safran Power Units Sign MoU to Advance HT-PEM Fuel Cell Technology for the Aerospace Sector

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May 31, 2023

Advent Technologies Holdings, Inc. (NASDAQ: ADN) ("Advent" or the "Company"), an innovation-driven leader in the fuel cell and hydrogen technology sectors, today signed a Memorandum of Understanding ("MoU") with Safran Power Units, a leader in auxiliary power systems and turbojet engines. Leveraging Advent's proprietary Ion Pair™ Membrane Electrode Assembly (“MEA”) technology, and Safran Aerospace knowledge and capabilities, this new collaboration will seek to advance the development of next-generation high-temperature proton exchange membrane (“HT-PEM”) fuel cell technology, specifically for the aerospace sector.