Advent Tech gains on fuel cell systems supply deal with German state

Advent Technologies Holdings

19/09/2022 17:48

** Shares of fuel cell and hydrogen technology firm Advent
Technologies Holdings  ADN.O  up 12.7% at $4.11 - set for their
best intraday session since July 5
    ** Co says it signed a three-year deal with the German state
of Brandenburg for the supply of methanol-powered fuel cell
systems
    ** ADN's cell systems will be used as a back-up power source
for Brandenburg's BOS digital radio network, replacing its
diesel-driven power systems over the duration of the deal
    ** Stock touches its highest levels since Feb. 2
    ** Co's GmbH Senior Vice President Daniel Hennig says
partnership is a step towards wider adoption of such fuel cells
as a back-up power source in critical infrastructure
applications across Europe
    ** So far this year, stock had decline 47.1% as of last
close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))