Advent Technologies Holdings, Inc. (ADN)

Advent Technologies Holdings, Inc.

190

Patents

issued, licensed, or pending

38

R&D programs

Advent has conducted 38 successful R&D programs

4.65

Gigawatt

Advent obtained approval to establish manufacturing capacity for 4.65 GW Green Hydrogen Electrolyzers in the European Union


The Path to Drawdown: Fuel Cells

Internal combustion engine vehicles have dominated the transport and automotive landscape since the 1920s. But today, that landscape’s changing. Thanks to supportive policies and declining costs, there are millions of electric vehicles (EVs) on the road. The difference in their effect on the climate is remarkable. Compared to internal combustion engine vehicles, CO2 emissions drop by 50% if an EV’s power comes from the conventional power grid. If powered by solar energy, emissions are cut by 95%.

While electric passenger cars and vans can be powered using lithium-ion batteries, there are other segments in the transportation sector that are more energy-intensive and harder to decarbonize. These include long-haul transport, shipping, and aviation. For these segments, hydrogen fuel cells will play an important role.

Hydrogen is an energy carrier that can be produced by using electricity to split water into hydrogen and oxygen atoms. Green hydrogen is the process of obtaining hydrogen by using renewable power, which directly displaces hydrogen produced from fossil fuels. If the world is to keep temperature increases below 1.5 degrees Celsius, green hydrogen needs to account for 12% of final energy use by 2050 (p. 24). And for this to happen, global electrolyser capacity -- that’s the system that breaks down water molecules into hydrogen -- needs to expand rapidly:

  • 0.3 GW of electrolyser capacity exists today
  • 5,000 GW of electrolyser capacity will be needed by 2050

That’s a CAGR of 39.8% between 2021 and 2050

About

Advent Technologies Holdings, Inc. (stock ticker: ADN) operates in the fuel cell and hydrogen technology markets. It develops, manufactures, and assembles the critical components that determine the performance of hydrogen fuel cells and other energy systems. They were founded in 2006 and is headquartered in Boston, Massachusetts.

ADN's Role in Drawdown

Advent makes components that influence the performance of hydrogen fuel cells to power, aviation, automotive markets, and more.

The company offers HT-PEM (high-temperature proton exchange membrane) fuel cells, HT-PEM based membrane electrode assemblies, flow battery membranes, organic photovoltaics, and ultracells. These fuel cells can handle any low-carbon or zero-carbon fuel. 

Hydrogen fuel cells are valuable in decarbonizing modes of transportation that are difficult to electrify, like long-haul trucks, ships and airplanes.

ADN: What We Like

We'll update this section once Advent makes sustainability information available.

ADN: What We Want to See Improve

Disclose Sustainability Metrics


Advent's initial public offering was in 2018 (p. 19), but the company has yet to put out any sustainability disclosures. We'd like to see them publish an annual sustainability report that includes their absolute greenhouse gas emissions, energy use and sources of that energy use. 

Set Clear Goals


The next step after beginning to disclose sustainability information is to set goals for becoming a greener company. This means reducing emissions, improving energy efficiency, and switching to renewable and clean energy sources. Advent should set forth targets that spell out how they plan to contribute toward the global goal of staying under 1.5°C of global warming.

Scale to Profitability


Advent reports (p. 21) that their only activities since their inceptions until the end of 2020 were organizational activities and preparations for their IPO, rather than manufacturing or sales operations. We're eager to see Advent start contributing to clean transportation.

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