Advent Technologies Holdings, Inc 8-K, filed Jul 7, 2022
Advent Technologies Holdings, Inc. (ADNH)
8-K
2022-07-07
For: 2022-07-07
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April 11, 2026
About this 8-K
Advent Technologies Holdings, Inc filed this 8-K on July 7, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 7, 2022
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (617 ) 655-6000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any
new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 |
Regulation FD Disclosure.
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Attached as Exhibits 99.1 through 99.7 to, and incorporated by reference
in, this report are presentations of Advent Technologies Holdings, Inc. (the "Company") that will be used at the Company’s Investor Day held on July 7, 2022. The presentation also is posted under Events & Presentations on the Investor
Relations page of the Company's website at http://www.advent.energy.
The information contained and incorporated by reference in this Item 7.01
on Current Report on Form 8-K, including Exhibits 99.1 through 99.7 attached hereto, is being furnished and shall not be deemed to be “filed” for purposes of the Securities
Exchange Act of 1934, as amended.
This report contains forward-looking statements, which reflect our current views with respect to, among other things, our operations and financial
performance. All statements other than statements of historical facts contained in this report, including statements regarding our future results of operations and financial position, business strategy and plans and our objectives for future
operations, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “could,” “target,” “predict,” “seek” and similar expressions are intended to identify forward-looking
statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy,
short- and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those referenced in the section titled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31, 2021 (“2021 Annual Report”) and in the Company's other filings with the Securities and Exchange Commission from time to time, which could cause actual results to differ materially.
Moreover, we operate in a very competitive and rapidly changing environment and new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent
to which any factor, or combination of factors, may cause actual results to differ materially from those contained in or implied by any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the
forward-looking events and circumstances discussed in report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.
Some of the key factors that could cause actual results to differ from our expectations include:
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our ability to maintain the listing of our shares of common stock and warrants on Nasdaq;
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our ability to raise financing in the future;
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our success in retaining or recruiting officers, key employees or directors;
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factors relating to our business, operations and financial performance, including:
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our ability to control the costs associated with our operations;
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our ability to grow and manage growth profitably;
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our reliance on complex machinery for our operations and production;
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the market’s willingness to adopt our technology;
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our ability to maintain relationships with customers;
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the potential impact of product recalls;
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our ability to compete within our industry;
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increases in costs, disruption of supply or shortage of raw materials;
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risks associated with strategic alliances or acquisitions, including the acquisition of SerEnergy A/S, a Danish stock corporation and fischer eco solutions GmbH, a German limited liability company, former
wholly-owned subsidiaries of F.E.R. fischer Edelstahlrohre GmbH, completed on August 31, 2021;
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the impact of unfavorable changes in U.S. and international regulations;
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the availability of and our ability to meet the terms and conditions for government grants and economic incentives; and
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our ability to protect our intellectual property rights;
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market conditions and global and economic factors beyond our control, including the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic
conditions, unemployment and our liquidity, operations and personnel;
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volatility of our stock price and potential share dilution;
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future exchange and interest rates; and
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other factors detailed within the 2021 Annual Report under the section entitled “Risk Factors.”
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| Item 9.01 |
Financial Statements and Exhibits.
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Exhibits
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Exhibit No.
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DESCRIPTION
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CEO Presentation
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CFO Presentation
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COO Presentation
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CMO Presentation
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CTO Presentation
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Green HiPo IPCEI Hydrogen Technology Project Presentation (Part 1)
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Green HiPo IPCEI Hydrogen Technology Project Presentation (Part 2)
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Cover Page Interactive Data File (embedded within the Inline XBRL document)
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, hereunto duly authorized.
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ADVENT TECHNOLOGIES HOLDINGS, INC.
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By:
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/s/ James F. Coffey
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Dated: July 7, 2022
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Name:
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James F. Coffey
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Title:
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Chief Operating Officer and General Counsel
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Exhibit 99.1
Advent’s Path to Growth INVESTOR DAY 2022 Dr. Vasilis Gregoriou Chairman & CEO
Vision and mission 2 Path to Growth Our Vision We believe that the world can decarbonize quickly
with green hydrogen and fuel cell technology Our Mission Bring the HT-PEM technology to the market and enhance energy independence, by building world-class fuel cells and electrolysers with low total cost of ownership and high
environmental impact.
Irreversible Path To Fossil Fuel Replacement 3 Path to Growth €300 billion (50 billion for H2
technologies) to specifically make Europe independent of Russian natural gas $8 billion program from the U.S. DOE to develop regional clean hydrogen hubs across America through. 17.5 GW of electrolysers by 2025 10 million tons of
renewable hydrogen captive production by 2025 (increasing to 20 million tons in 2030). €113 billion for renewables (€86bn) and key hydrogen infrastructure (€27bn) by 2030 RePowerEU “Hydrogen Accelerator” Sources:
https://ec.europa.eu/commission/presscorner/detail/en/IP_22_3131
https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/06/fact-sheet-president-biden-takes-bold-executive-action-to-spur-domestic-clean-energy-manufacturing/ https://www.energy.gov/articles/doe-launches-bipartisan-infrastructure-laws-8-billion-program-clean-hydrogen-hubs-across Europe U.S. 50-52%
reduction goal from 2005 levels in economy-wide net greenhouse gas pollution in 2030. Bold executive action recently taken by U.S. President Biden to spur clean energy manufacturing.
What We Must Do 4 Path To Growth Produce green hydrogen: electrolyser global capacity has to
increase massively. Advent’s Green HiPo is well positioned to meet this need Use e-methanol, ammonia, LOHC and all liquid hydrogen carriers, biomethane and efuels Advent’s technology does not need pure hydrogen to operate and because it
works with hydrogen carrier fuels, does not require a trillion-dollar infrastructure to begin deployment
The Moment for Hydrogen is Now The Time For Fuel Cells Is Now 5 The Time Is Now The end of diesel
is fast approaching Small cars will run on batteries Trucks, marine, aviation and large scale power generation will run on fuel cells We’ll need to replace substantially all our engines and all our fuels in the next 15 years
The Moment for Hydrogen is Now What we must do 6 The Time Is Now Make fuel cells cheaper Most of
the world’s population cannot afford to switch to more expensive solutions just for the environmental impact First address areas where batteries fail off-grid, large scale storage, heavy-duty mobility
The Moment for Hydrogen is Now Advent Is Uniquely Positioned As An Enabler 7 The Time is Now What
they sold in 2020 is not what they’ll sell in 2030 There are only a handful of high-tech companies on the planet that have strong fuel cell expertise. Advent is one of them Advent has the next-generation of technology for many markets. We
have partnered with the EU, US DoE, US DoD and plan to partner in Japan and South Korea with the top institutions and world-leaders We transfer Manufacturing and Systems know-how to Tier1s/OEMs so that they can produce locally and own
system brand
Chris Kaskavelis* CMO Our People 8 Advent’s Team Vasilis Gregoriou* Chairman & CEO Emory
De Castro* CTO Jim Coffey General Counsel & COO Kevin Brackman CFO Naiem Hussain CIO Daniel Hennig SVP, Advent Technologies GmbH Nora Gourdoupi SVP, Corporate Business Development Ian Kaye SVP, Product
Development. Preben Rasmussen VP, Advent Technologies A/S . Morten Hougaard Sørensen SVP, Advent Technologies A/S Jochen Baurmeister CTO’s Office Per Arild VP, Sales, Marketing & Business Development Warren Brower VP,
Business Development, North America. Hechem Nadjar VP, Business Development, Europe George Paloumbis Director of Manufacturing Vasilis Kopelas VP, Business Development (Green Mobility) Alan Kneisz VP, Business Development,
Asia ,
Markets: We already sell systems in Stationary (Telecom and Marine) and in Portable (Defense and
infrastructure) 9 Markets 9 BATTERY EV OFF-GRID & PORTABLE TRUCKS, BUSES AVIATION 100 kWh 4hrs 8hrs 12+hrs days Autonomy ENERGY: GRID POWER H2 (PURE) H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL GAS)
Markets: We Are Expanding To Mobility With Strategic Partnerships 10 Markets 10 BATTERY EV
OFF-GRID & PORTABLE TRUCKS, BUSES AVIATION 100 kWh MWh MWh-GWh 4hrs 8hrs 12+hrs days Autonomy P2X, CHP & MARINE HEAVY-DUTY MOBILITY ENERGY: GRID POWER H2 (PURE) H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL
GAS) Path to mobility market through JVs & Joint Development Agreements COMPETITION: LI-ION LOW-TEMPERATURE PEM SOFC/MCFC Increasing interest for large-scale systems
Markets: We Are Expanding To Electrolysers With IPCEI (Important Projects Of Common European
Interest) Support 11 Markets 11
Green HiPo 12 Highlights Total funding of 782.1m € Duration 2022-2027 R&D and Production
Facilities Direct and indirect cooperation with approximately 20 European entities Electrolysers: 1.5 GW over 6 years Fuel Cells: 120MW over 6 years. Innovative Production of HT-PEM Fuel Cells and Electrolysers Green HiPo
Off-Takers
13 HT-PEM “Any Fuel. Anywhere.” Technology 13 13 Advent Fuel Cell Stack Advent
MEA Defense Off-Grid Heavy-Duty Automotive Aviation Marine Combined Heat & Power ANYWHERE COLD HEAT HUMIDITY POLLUTION MARKETS ELECTRICITY ANY FUEL Fuel for most heavy-duty mobility & industrial
markets HYDROGEN Option for off-grid & portable Interim low-cost option for mobility Low-cost hydrogen at minimal infrastructure cost e-Methanol, DME, LOHC METHANOL MARKET IN NEAR FUTURE MARKET NOW e-FUELS (H2 carriers) Dr.
Emory De Castro, CTO
Dr. Chris Kaskavelis, CMO Next-Gen MEAs & Electrodes ENGINEERING & License
Fees JDAs/Gov’t Projects Revenue Will Come From SYSTEMS Stationary Power Portable Power Mobility Electrolysers
15 Accomplishments February 2021: Advent rings Nasdaq Stock Market opening bell Advent acquires
UltraCell 2021 Accomplishments: Build A Team Of The Best March 2021: Advent announces Joint Collaboration with the U.S. Department of Energy for next-gen fuel cell technology Advent announces new product development &
manufacturing facility in Charlestown, MA, USA. U.S. Department of Defense selects Advent’s wearable fuel cell for 2021 validation program June 2021: Advent signs new contract with U.S. Department of Defense for wearable fuel cell July
2021: Advent is Nominated to be Part of the First Wave of IPCEI Hydrogen Advent launches M-ZERØ™ Fuel Cells September 2021: Advent’s Green HiPo project approved by Greek Government and submitted to EU Advent’s acquisitions of German
FES and Danish SerEnergy bring forth a new, global fuel cell leader October 2021: Advent Technologies A/S 5kW Fuel Cell Systems roll out in Asian market for Telecom Sector Advent announces successful installation of the Advent Fuel Cell
System in the Philippine Telecom Sector December 2021: Advent signs MoU with BASF to secure supply chain for large-scale projects Advent announces successful demonstration of Serene Fuel Cells to the Maritime Sector
16 Accomplishments January 2022: Advent signs Distribution and Service Agreement with Calscan
Solutions Advent to supply Serene Fuel Cells for Globe Telecom’s rooftop sites in the Philippines 2022 Engage the Market February 2022: Advent signs new contracts worth $2.2 million for delivery of MEA electrochemistry
components March 2022: Advent announces availability of Next-Generation HT-PEM MEAs April 2022: Advent and Hyundai Motor Company enter into Technology Assessment agreement New orders of HT-PEM MEAs by Safran Power Units May
2022: Advent co-signs Joint Declaration to increase electrolyser manufacturing capacities in the European Union Advent enters into technology assessment agreement with second large global Automotive Manufacturer June 2022 Advent’s
methanol-based fuel cell unit contributes to new world record for both electric and hydrogen-powered cars Advent receives notification of euro 782.1 million funding from the Greek State for IPCEI Green HiPo project
17 2023 and Forward Scale up capacity USA, Western Europe and Greece Strategic Partnerships and
continued progress on commercializing the DoE technology Collaboration/Joint Development Agreements with large, global players Product development activity around portable/off-grid, aviation and mobility Potential strategic
transactions Forward
18 Jim Coffey, COO & General Counsel Focus on the 3Es (Environment, Energy Security, and
Economy). We need clean fuels and engines that will be green, manufactured locally, and do not require immense infrastructure spending. The Environmental Challenge
19 Kevin Brackman, CFO Advent is on track to meet its 2025 target Advent Finance & Investment
Thesis
The hydrogen economy is here. Globally, an average of $38 billion per annum is expected to be
invested in the hydrogen and fuel cell sector between 2020 and 2040. Advent will decarbonize the world faster by bringing its highly differentiated HT-PEM technology to the market. Through Green HiPo, Advent expects to receive total
funding of 782.1m euros over a period of six years and will cooperate with at least 20 European entities across the value chain. We will play a leading role in the clean energy transition by building world-class fuel cells and
electrolysers with a low total cost of ownership. 20 Summary
Exhibit 99.2
Financial Outlook and Growth Catalysts INVESTOR DAY 2022 Kevin Brackman, CFO
Finance Next-Gen MEAs & Electrodes Framework agreements with TowerCos, Telcos, Local
Partners Private Label versions to be developed for major Diesel Genset providers to help them bring new “green” offering to market Electrolysers developed under Green HiPo project Future business model scalable to 100s of MWs and
GWs Access to market by partnering with global OEMs Expansion of innovation and manufacturing capabilities through IPCEI program (Green HiPo) ENGINEERING & License Fees JDAs/Gov’t Projects RevenueStreams SYSTEMS Off-Grid Telco
Towers Defense Remote Power Electrolysers IP: Advent’s recipe to make electrodes, membranes and MEAs is superior to competition and extremely difficult to replicate Next-Gen MEAs developed with the U.S. Department of Energy will
significantly reduce TCO and improve ROI, leading to higher demand
Catalysts for Growth 3 Finance Advent Green HiPo project funding of euro 782.1m from the Greek State
for the development and production of fuel cells and electrolysers Framework agreements for selling systems Continued progress on commercializing the DoE technology Product development activity around portable/off-grid, mobility and
aviation Collaboration/Joint Development Agreements (JDAs) with large, global players Potential strategic transactions Completion of the R&D and manufacturing facility in Boston RepowerEU “Hydrogen Accelerator”, large-scale U.S.
hydrogen infrastructure projects and increasing interest in hydrogen technologies from industries and governments
The Landscape for Tier1/OEMs is Changing Rapidly The engines and fuels of today will change in the
next 15 years. Hydrogen and fuel cell know-how is scarce globally and is a strategic resource. OEMs innovating in-house could mean high costs and late to market. 4 Finance Advent will be a key enabler in this transition,
by: Accelerating product development Continuous innovation Providing private label versions Providing the MEA at scale Licensing fees for technology Tier 1/OEMs will provide Advent with: Development funds and vertical market
expertise Scale-up manufacturing capital for system production Access to significant market opportunities
Summary 5 Finance Significant market and growth opportunities in the coming years Ensure access to
market by partnering with global OEMs Expand innovation and manufacturing capabilities through IPCEI program (Green HiPo) Supplement CAPEX and R&D financial needs by identifying strategic partners Scale-up MEA production Continuous
innovation and product development
Revenue 6 Finance 2025 Revenue Target: $300 Million Significant Market Opportunities Stationary:
1.18 million telecom towers globally need backup power x 15kW = 18GW Mobility: Heavy-Duty Trucks, Marine, Aviation Current technology assessments with Hyundai and another top automaker Electrolysers and Fuel Cells from Green HiPo:
Electrolysers: If Green HiPo has less than 1% share of 400GW EU target by 2030, cumulative electrolyser capacity for Advent of 1.5GW over 6 years x estimated price of $300/kW = $450 Million cumulative revenue over 6 years Fuel Cells: If
Green HiPo has 0.07% share of 170GW EU target by 2030, cumulative fuel cell capacity for Advent of 120MW over 6 years x estimated price of $1700/kW = $205 Million cumulative revenue over 6 years Fractional share of these markets can support
Advent’s long-term revenue target
Balance Sheet and Liquidity $59.3 million in cash as of March 31, 2022; no debt; anticipate receiving
~$5 million in the second half of 2022 in tenant improvement allowances for Hood Park facility as reimbursement for spending that occurred in the first half of 2022 Excluding any margin contribution from revenue and Hood Park impact, net
spending currently averages ~$11 million per quarter Targeting a 20% reduction of this run rate Cash use higher than average in Q1 due to annual payments such as insurance renewals, and lower than average in Q2-Q4. Green HiPo Funding: Euro
782.1 million over six years, as follows (in euro million): Year 1 35.8 Year 2 84.3 Year 3 175.7 Year 4 259.3 Year 5 111.7 Year 6 115.2 7 Finance
8 Finance Legend 2022E 2025E 2022E-2025E Revenue
CAGR 135.0% 46.2% 28.1% 47.9% 100.8% 34.6% 48.4% 29.7% Market Capitalization ($m) $136m $680m $1,351m $2,040m $1,466m $1,508m $10,539m $3,222m Core Comps Developer & producer of hydrogen fuel cell stacks and
systems Developer & manufacturer of solid oxide fuel cells Fuel cell technology & engineering company Developer & manufacturer of PEM fuel cells PEM technology for hydrogen electrolysers and fuel cells Direct gas / natural
gas fuel cell manufacturer Design and manufacturing of hydrogen fuel cell systems Note: Market data as of June 24, 2022. Peer revenue estimates are based on Wall Street analyst consensus estimates. (1) Advent revenue estimates are based on
management targets of $23 million for 2022E and $300 million for 2025E. Peer Avg. Multiples 2022E 15.5x 2025E 4.9x (1) EV/Revenue Multiples Other
Exhibit 99.3
Operations, Excellence & ESG INVESTOR DAY 2022 James Coffey, COO, & General Counsel
2 Operations Excellence & ESG Hydrogen & Fuel Cell Markets Booming Worldwide Globally, $38
billion annually is expected to be invested in hydrogen and fuel cells between 2020 and 2040 $1-$1.4 trillion in investment is needed by 2040 to meet decarbonization commitments Sources: $38 bn fact: 10-K report & ESG
report www.mckinsey.com/industries/oil-and-gas/our-insights/global-energy-perspective-2022
Annual Co2 Emissions from Energy Use 3 Operations Excellence & ESG Advent’s
strategy: Innovate Focus on Total Cost of Ownership (TCO) HT-PEM Superiority Curb Non-OECD emissions Source: Advent L.I.F.E proposal: LiFE_Annex_1_3_Combined.pdf Address the 3Es: Energy Security, Economy, Environment. Today Co2
emissions by OECD countries 95GT/year by 2100 Co2 emissions abatement by Non-OECD
4 Regional Sales Center Portable Solutions HQ, Ion Pair Polymer, Ion-Pair Solutions,
Development Production, Stack Operational Excellence Advent around the world as one company. Senior management regularly travels to all locations. Task force focused value creation through operational excellence. Operations Excellence
& ESG
Advent Partner & Market Approach 5 Operations Excellence & ESG 5
Operations Excellence & ESG The world needs low-cost, clean fuel solutions sourced with existing
infrastructure LPG METHANOL BIOMETHANOL BLUEH2 GREEN HYDROGEN LOHC EMETHANOL EFUELS ADVENT COMPETITION COST $4 $2 $2 $2 <$1 <$2 per/KG <$2 IMMEDIATELY AVAILABLE FUTURE Advent’s Fuel Cell Is Fuel-flexible
Advent Fuel Cell Value Proposition 7 Operations Excellence & ESG ROI Noise Reduction of
CO2 No SOX, NOX, black carbon etc. Ease of use Lowering Total Cost of Ownership (TCO) & increasing Return On Investment (ROI) Limited maintenance Versatile technology H2 Carrier Fuels
Strategic collaborations and awards 8 Operations Excellence & ESG U.S. Department of Energy
L’Innovator program: Advent and Los Alamos National Labs, National Renewable Energy Labs, and Brookhaven Labs working to commercialize next-generation HT-PEM technology “ARPA-E” OPEN Award Advanced Research Projects Agency–Energy: Advent
collaborated with Toyota Motor North America R&D, Los Alamos, University of Texas at Austin, Rensselaer Polytechnic Institute, and University of New Mexico to develop next-generation HT-PEM fuel cells for the automotive industry U.S.
Department of Defense Honey Badger: 50 W reformed methanol wearable fuel cell power system selected by the U.S. DoD National Defense Center for Energy and Environment for demonstration/validation program. Northeastern University
Development of MEAs for low-cost electrolyzers (green hydrogen production). Advent is a world leader in developing advanced materials, components, and processes Creates energy, defense, and telecom fuel cell solutions Clients in U.S.,
Europe, China, and Pacific Rim Completed dozens of EU and nationally sponsored projects.
9 Operations Excellence & ESG Supply Chain Value Creation Approach Engage and work with
contractors and suppliers that also act in an environmentally, and socially responsible manner Ties to local communities – we work with local suppliers and contractors whenever feasible Key partnerships established with BASF and De Nora on
key components sourcing and future scale-up
Memberships & Excellence 10 Operations Excellence & ESG Hydrogen Europe Methanol
Institute The Fuel Cell and Hydrogen Energy Association American-Hellenic Chamber of Commerce German Intelligent Mobility Association Confederation of Danish Industry E4ships Aalborg Alliancen Energy Cluster Denmark CAN in Automation
(CiA) Brintbranchen Hydrogen Denmark Clean Power Net Since 2017, Advent Technologies A/S has adopted the ISO 9001:2015, Quality management system
Manufacturing scale-up 11 Operations Excellence & ESG Massachusetts, U.S.: The Hood Park
facility is scheduled to be operational in Autumn of 2022. Hood Park will allow Advent to scale-up and meet increasing global demand. Patras, Greece: Upgraded facilities to produce the necessary materials for MEAs. Patras upgrade will
enable Advent to soon support production of nearly 1 MW of power per month.
12 Operational Excellence ESG Highlights
April 2022: Published Advent’s first ESG report 13 ESG Highlights
REDUCE Our approach to sustainability 14 ESG HIGHLIGHTS CREATE BECOME Reduce carbon footprint
through use of HT-PEM fuel cells Create a circular economy by recapturing and recycling old fuel cells Become more sustainable by meeting sustainable development goals
Energy Savings, Leed And Well Certifications 15 ESG HIGHLIGHTS Advents seeks to realize energy
savings whenever possible. We deliver electricity back to the grid and rely on green electricity where possible. Our Boston HQ at 200 Clarendon Street has a gold level LEED certification and we are working towards platinum level WELL
certification.
16 ESG HIGHLIGHTS *Numbers as of December 31. 2021, Advent A/S Form of treatment Faction
group Total Quantity (kg) Recycling Packaging cardboard 1,700 Hazardous Waste 663 Iron and Metal 8,459 Food waste 1,078 Other waste 980 Paper incl. newspapers 64 Small equipment 1,490 Incineration Hazardous
Waste 4,489 Suitable for combustion 9,200 Total 28,123 Recycling and Waste Disposal
Society - Human Capital 17 ESG HIGHLIGHTS 40 employees in the USA 61 employeesin Denmark 18
employees in Germany 26 employees in the Philippines * Numbers as of June 30, 2022 Key Partnerships Market Penetration *This number includes part-time employees and contractors. Patras and Athens, Greece 38 Successful R&D
Programs San Francisco Bay Area, USA Boston and Charlestown, MA, USA Aalborg, Denmark Achern, Germany Manila, Philippines *This number includes part-time employees and contractors. Manila, Philippines Employee break-down per
location Patras and Athens, Greece Achern, Germany Aalborg, Denmark San Francisco Bay Area, USA Boston and Charlestown, MA, USA 38 employees in Greece 183 total employees
Society- Training and Development 18 ESG HIGHLIGHTS * Numbers as of December 31, 2021 78% of Advent
employees participated in training and development programs in 2021: Professional skills improvement Human rights Ethics Health and safety issues on all laboratory processes Technological expertise Enhanced cooperation with academia and
research institutions for internship programs. University of Patras University of Rennes University of Bern New England School of Law Massachusetts Institute of Technology
Advent’s social commitment 19 ESG HIGHLIGHTS We are committed to community engagement at all
locations. Advent supports local economies - its operations create value and employment opportunities. Our goal is to be a trusted partner where we operate. Advent is committed to fostering a dialogue with local committees To guide our
commitment to society and active community participation we: Promote local employment; Support local organizations; and Strengthen local economic development
Governance – Business Ethics 20 ESG HIGHLIGHTS Code of Business Conduct & Ethics Whistleblower
and Complaint Policy Insider Trading Policy Anti-Fraud Policy Related Persons Transaction Policy
Summary 21 ESG HIGHLIGHTS The provision of clean energy is our global objective. Advent's fuel
cells can fulfill the global need for low-cost, clean fuel solutions sourced with existing infrastructure. We partner with governments and the world’s greatest companies, aiming to couple our advanced electrochemistry and engineering
expertise with a global scale of operations and manufacturing footprint. We pride ourselves in being a forward-looking company, putting ESG at the center of our corporate strategy.
Exhibit 99.4
Business Development & Growth INVESTOR DAY 2022 Chris Kaskavelis, CMO
2 Business Units Stationary Power Systems Replace the Diesel
Generator Mobility Trucks Aviation Marine Portable Power Systems Infrastructure, Surveillance, Defense Electrolyzers Green Hydrogen Production
Stationary Power Systems 3 Business Unit Replace the Diesel Generator
4 Diesel Genset Market $37bn/yr 2027* Advent SereneU System runs on green fuel Advent SereneU
Fuel Cell Replace the Diesel Generator Now with Lower TCO Telecom Backup Power for Off-Grid/ Bad-Grid. Diesel Genset Replacement Combined Heat & Power (H2-powered buildings) Stationary Power Systems 1000 800 600 400 200 0
5 1.18 million towers globally need backup power Growth in number and power needs (due to 5G
deployments) License to Operate: Government mandates & ESG agendas of Telecom companies expected to result in the replacement of diesel generators Tower in jungle picture Telecom Tower Backup Power Stationary Power Systems x 15kW =
18GW 2020
6 Logistics: Serene can use biomethanol, e-methanol, biomethane, rNG, ammonia. “The fuels of tomorrow,
today” Fuel Price: Diesel/eFuel price evolution favors Serene Quiet Power for Rooftops Stationary Power Systems USP: “Any Fuel. Anywhere.” EUR/LITRE Advent SereneU System runs on green fuel Advent SereneU Fuel Cell
7 Stationary Power Systems Total Cost of Ownership: Fuel Cell vs Diesel Genset Cumulative Cost of
Multiyear Deployment: ( cost in 000s, 3.75kW, 10year operation, 24hrs/day) Service H2 Fuel Capex Service Diesel Capex Advent 2024 $0.9/kWh Diesel Genset $1.5/kWh 95%+ GHG reduction vs diesel with e-methanol
Philippines Deployment 8 SERVICE AREAS Sales POC, TCO System Installation Remote
Monitoring Repair & Maintenance Fuel Supply Fuel Delivery Logistics & Warehouse More than 30 engineers and technicians, experienced in installations and maintenance, ready to travel all over Asia.
OEM Relationships Germany, Indonesia, Philippines, Malaysia, Taiwan, Thailand, United States, Egypt,
South Africa, Latam, Japan, India, China Stationary Power Systems Moving from Direct Sales & Service to Channel Partners ~1,000 systems deployed CURRENT 2,000 new systems in the next 18
months TARGET 17,000 towers PIPELINE TOWERCOS Telcos OEMs
1,000MW Massive Growth Opportunity Massive Growth Opportunity Direct Sales 50,000 Channel
Partners 20 kW Systems Power Opportunity 100MW 5,000 20 kW Revenue: $100s/kW Gross Margin: higher CAPEX & OPEX: lower Revenue: $1,000s/kW Gross Margin: lower CAPEX & OPEX: higher
Portable Power Systems 11 Business Unit Human-portable, lightweight power for surveillance, critical
infrastructure, and defense
12 Portable Power Systems Portable Power for Defense Reduces weight vs batteries by 3x to 25x on
missions. Designed for long-duration operations Windshield Washer fluid as fuel! = Simple Logistics In development with US DoD funds with low-rate production starting next year and higher volumes expected in the future Has passed numerous
military standard tests at Ft. Bragg NC and Ft. Benning GA Ability to operate On-the-Move and in extreme environments Potential strong demand in line with multibillion IVAS (Augmented Reality AR) US Army Program New Contract with PM-IVAS
to fund product enhancements to meet evolved requirements
Remote Power for Critical Infrastructure 13 Portable Power Systems Power for Winter for Control
Systems Significant reduction in O&G well site emissions (up to 40 Mt carbon dioxide per year) Fueled by methanol (widely available at wellheads) The first application is focused on the Canadian Oil & Gas Market Partnership with
Calscan, leader in the market System developed according to specs (operation at extreme environments) First units are expected to be tested and deployed in 2022 with strong demand expected (driven by regulation) in 2023-2024
14 From Defense to the Markets of the Future Portable Power Systems $2 bn a year by
2027 Drones Firefighting Agriculture Augmented Reality Surveillance Robotics Innovative Technology is initially supported by Defense budgets Bring Technology to other massive growth markets High-Margin and Uniquely Differentiated
Niche Markets $10-20 mn Development Funds 2020-2023
Mobility 15 Business Unit Next-Generation Fuel Cell Technology for Trucks, Aviation, and Marine
16 Advent next-generation Fuel Cell DIGI-TRONIC Advent MEA Heavy-Duty
Automotive Aviation Marine Mobility Mobility: Enabling Tier1s and OEMs Train One Technology. Many Applications.
17 Mobility Market Feedback for HT-PEM Power Heat Rejection= Efficiency Multifuel Extreme
Environments Heavy-Duty Mobility 100s of kWs Aviation MWs Marine MWs Locomotive MWs Convert Market Need to Strong Profitable Partnerships with Immediate Revenue for Development of Systems. Progress to “License + MEA” business
model
Advent has the Technology.Tier1s and OEMs need a System Ready for Mass Production Advent develops core
technology in-house. Advent develops application/market-specific system, certified for operation. 18 Mobility Fuel Cell Technology MEA
19 Mobility Manufacturing Know-How Transfer Development Phase Fuel Cell System Co-Development
Joint Development Agreement - Partnership Direction MEA Supplier License Technology Production Phase Partner has the right to brand, manufacture locally, price, sell under own brand the system to the specific market /application
Production Phase Tier1/OEM
Engineering Fees Prototype Phase: Advent develops specific prototype fuel cell system for
application/market Year 3: 30 MW Year 5: 450 MW Year 4: 120 MW Year 6: 750 MW Advent Business Model in JDAs 20 Early Production Phase: Advent manufactures MEAs and licenses out fuel cell technology to Tier 1/OEM Mass
Production Both Parties scale up their production MEA sales Licensing fees 2. Tier 1/OEM: System manufacturing scale up and commercial expansion 1. Advent: Manufacturer of MEAs & development of fuel cell systems OEM focuses on
manufacturing & marketing preparation Mass market scale-up – to 100k+ units Year 7: 1 GW Year 2 Year 1 MEA sales Licensing fees MEA sales Licensing fees Partners Mobility
Hyundai Technology Assessment Other Top Automaker Technology Assessment In discussions with many
world-leading conglomerates across Automotive, Aviation, and Marine 21 Mobility Strategic PartnershipsProgress
Growth Strategy 22 Advent is an innovation and enabler company that brings HT-PEM technology to the
mass market through strategic partnerships with world leaders in the mobility and power-generation markets. The company will invest in innovation and manufacturing in the areas of MEAs and Fuel Cell Technology where it can achieve high
differentiation and market impact.
Innovation & Investment Drops Cost Demand Follows 23 New MEA 2x-3x power 5x lifetime H2
cost expected to drop to $2/kg Continuous improvement 2022 Crisis CO2 penalties increase Growth Strategy $/kWh are indicative and market/application-specific
Senior VPs (from fuel cell industry) for Strategic OEM and JDA deal focus Dedicated Salesforce for
Serene Telecom Stationary Systems and Portable Systems Focus on strategic partnerships vs direct sales on mobility Partnerships, EU, DoE, DoD 24 People People
2022 Outlook 25 Majority of Sales expected in Q3 and Q4 Sales will depend on the speed of execution
of framework agreements with telecom operators Revenue in the form of development fees from joint development agreements Expected support from R&D and Government grants, as part of the $23m revenue and grants target
Exhibit 99.5
Technology INVESTOR DAY 2022 Dr. Emory De Castro, CTO
HT-PEM Fuel Cell Technology Competitive Advantage: Low TCO Multifuel: can use any H2 fuel or
biofuel Lifetime: performs at extreme conditions Efficiency: suitable for heavy-duty applications 2 Technology MEA Fuel Cell Stack HT-PEM fuel cells run hot (120-160oC)
Multifuel = Opex & Capex Reduction 3 Technology Renewable Natural
Gas Biomethane Biomethanol CONVERT FOR TRANSPORTATION HT-PEM FUEL CELLS Trucks Marine Aviation Off-Grid Buildings eMethanol LOHC Ammonia PRODUCTION Green H2 WASTE WIND SUN APPLICATIONS Green H2
Multifuel capability enables wide and immediate market 4 Technology 4 Marine will use eMethanol or
Ammonia. Cannot Pack the H2 needed in a ship. Same for Aviation. Liquid hydrogen is 2.6 kWh/liter while methanol is 4.3 HD-Automotive & Trains would benefit from fuel flexibility to reduce cost per mile Buildings can move from NG to
NG/H2 blend to pure H2 gradually with same technology Off-grid power, remote & portable power for defense, infra and surveillance need liquid clean fuel like eMethanol for logistics Liquid H2 tank eMethanol fuel cartridge Fuel tank
Best in Class for HD Transportation 5 Comparison of Fuel Cells SOFC MCFC PAFC LT PEM ADVENT
HT PEM Efficiency High Medium Medium Medium High Startup time Long Long Moderate Fastest Fast Fuel flexibility Medium, low sulphur tolerance High High Low High Power Density Medium Low Medium High High Water needed
/ run dry Start up/yes Yes / no None No / No No / No Cost reduc potent. Medium Low Low High High
HT-PEM = Long Lifetime. 6 Technology Polluted Air Humid Cold Hot/Dry Wet- Dry HT PEM: 80% RH
DELTA LT PEM: 50% RH DELTA Reliance to heat HT PEM: upper operating T = 200-240 0C LT PEM: upper operating T = 80 0 C Lifetime (time to 10% voltage drop) HT PEM: 10,800 hrs LT PEM: 3,600 hrs Resistance to pollution and hydrogen
impurities HT PEM: can function with up to 4% carbon monoxide LT PEM: 10 parts per million Works ANYWHERE
High Temperature = High Efficiency 7 Technology High Temp Operation = Efficiency and Simple
Design Anywhere means the fuel cell has fewer, more simple sub systems, lower maintenance, and lower MTBF Aviation: We cannot fly unless we go HT-PEM. Heat-exchange inefficiency will make flight impossible Trucks: Radiators to run big
trucks in the desert, (and any hot environment) are not existent or efficient Buildings: with HT-PEM we have quality heat and hot water. Cannot do this with lt-pem
How Advent Developed the HT-PEM Technology 8 Technology 8 2021 Silicon valley product dev for next
gen fc system New Boston & Europe production facilities under construction Successfully demonstrates ion pair alone and in system Honey Badger HT-PEM Gen 3 launch with LANL Mobility next-gen Fuel Cell under
development 1960s 2006 2013 2018 2021 First LT-PEM fuel cells Advent HT-PEM Gen 1 Advent-BASF HT-PEM Gen 2 DoE selects Advent for L’Innovator Joint Dev. Program R&D with NASA, ESA, DoE 2012 DoE ESA NASA BASF LOS
ALAMOS BROOKHAVEN NREL Acquisition of UltraCell,Serenergy and fischer eco solutions GmbH Enters into tech assessments and aims to bring ht-pem to all key markets with partnerships scale up production to GWs New tech in HB and Serene (own
systems) will drop cost and increase lifetime massively
Advent Has Assembled a 200-Strong Team of Top Materials Scientists and Fuel Cell
Engineers Technology For the last decade and more we are solely focused on developing the next generation of fuel cell technology Development/manufacturing hubs in Boston, Silicon Valley, Denmark, Germany, Greece 190 patents issued,
licensed, or pending Strategic Partner of the U.S. Department of Energy (DoE) and U.S. Department of Defense (DoD). Awarded exclusive program with Los Alamos, Brookhaven, National Renewable Energy Laboratories to commercialize
game-changing materials (MEAs, Catalyst)
10 Advent FC Systems SereneU: Stationary Power systems Replace the Diesel Generator DIGI-TRONIC:
Mobility Trucks Aviation Marine Honeybadger Surveillance, Infrastructure, Defense M-Zero Remote Area Power System Mission-Critical Applications
11 Systems Fuel Cell Supply Chain Membrane Electrode MEA Bipolar Plate Fuel Cell
Stack Reformer-HT-Stack Electro-mechanical Unit Core Unit Power Electronics / Control Unit We make the MEAs The “heart” of the fuel cell Design and manufacture the fuel cell stacks The complete fuel cell system that is ready to
ship We design and manufacture systems for different market needs Stationary Power Portable & Remote Power Mobility
Serene Power Systems Technology HTPEM fuel cell operated on methanol System Modular system in
building block of 5 kW. System availability: 5-20 kW Tank size is 200L to 4,000L equivalent to 220kWh to 4,400 kWh of electrical energy. Why a modular system? Having a modular system enables easy replacement, in case of repair/service.
Easy mount and un-mount units for simplified field service. No fuel cell experience needed. Service and repair can do done at a certified local service center. 12 Systems 5 kW Unit 5 to 20 kW System
Advent's MEA Team Are Electrochemistry Specialists Membrane: highly selective synthesis and machine
casting of performance polymers Electrode: creating optimum structures for high current and catalyst utilization Lamination: automation team for high-speed assembly of membrane electrode assemblies and stacks 13 Specialists
Scale-up Manufacturing of MEA 14 Scale-up Steep decline in price as volume increases $/kW MW/year
DIGI-TRONIC: Simple Design & Low-cost Manufacturing DIGI-TRONIC HIGH-VOLTAGE
350V-800V INDIVIDUALLY DIGITALLY CONTROLLED CELLS FOR LONG LIFETIME AND REDUNDANCY SKATEBOARD DESIGN –FLEXIBLE FORM FACTOR CONFIGURABLE TO MARKET AND APPLICATION NEEDS: EMOTOR+FUEL CELL -H2 AS FUEL EMOTOR+FUEL CELL+REFORMER - EFUEL
TANK EMOT0R-EV BATTERY-FUEL CELL RANGE EXTENDER
Efficiency: Superior Heat Management /Removal DIGI-TRONIC Advent fuel cell operates at 80oC-200oC:
Innovative thermal controls are used including smaller radiators and compact cooling circuits for stack and system. Will run efficiently in the Arizona desert.
From Innovation to TCO 17 Next Gen MEA and Systems TCO 6X Lower 10kW 30kW kW $/kWh Higher
Power Density Higher Lifetime
Summary Advent’s HT-PEM fuel cell technology is multifuel capable, can perform at ambient conditions,
and is particularly suitable for heavy-duty applications. The multifuel capability enables wide and immediate market adoption. Advent is jointly developing the new Advent MEA in collaboration with the U.S. Department of Energy. Advent’s
HT-PEM has significant advantages over LT-PEM, SOFC, MCFC, and PAFC. Advent aims to revolutionize mobility by replacing the diesel generator and the internal combustion engine with DIGI-TRONIC. Advent’s Boston-based team is working on the
MEA manufacturing scale-up. Advent has assembled a 200-plus team of top material scientists and fuel cell engineers. Advent now covers the full supply chain of its products. 18 Technology
Exhibit 99.6
INVESTOR DAY 2022 1 Green HiPo IPCEI Hydrogen Technology Project Nora Gourdoupi Ph.D. / SVP,
Corporate Business Development
Advent’s Green HiPo is a key IPCEI Hydrogen Technology Project 2 Green HiPo IPCEI (Important
Projects of Common European Interest) Hydrogen Technology is an EU initiative to achieve: Europe’s energy and climate targets, in line with the Paris Agreement economic growth and maintaining the competitiveness of the EU industry and
economy the technological and energy autonomy of the EU The EU is targeting a scale-up of electrolyser capacity of up to 400GW in 2030. This corresponds to 10 million tons of renewable-produced hydrogen. REPowerEU (8th March, 2022) is a
recent EU initiative to reduce the dependence of Europe on external energy markets and augments the IPCEI Hydrogen Technology initiative.
Any Fuel. Anywhere. 3 Advent in collaboration with strategic partners is aiming to provide a modular
and versatile solution that is suited for scale-up and serial production. Through Green HiPo, Advent is aiming to produce electrolysers of total capacity 1.5GW over 6 years in Western Macedonia, Greece. Green Hydrogen can play a major role
alongside electricity generation in future low-carbon economies, with the versatility to provide mobility, power system, heat and industrial services. Advent Green HiPo: Electrolysers can be used for the production of green hydrogen Green
HiPo
Electrolysers: Off Takers and Applications 4 Green
HiPo https://www.iberdrola.com/documents/20125/1226064/Infographic_Applications_Green_Hydrogen.pdf/ 50f3a85c-5008-e2c7-71a4-27233c9ce93f?t=1639123929915 Green hydrogen will be a key element in the decarbonization of the planet and will
have an impact on numerous industries and sectors. PETROCHEMICAL INDUSTRY TRANSPORT AGRICULTURE CHEMICAL INDUSTRY OTHER INDUSTRIES HEAT & COLD RENEWABLE ENERGIES ELECTROLYSER
Any Fuel. Anywhere. 5 The global installed capacity of solar PV could rise six-fold by 2030 (2,840GW)
and is forecast reach 8,519GW by 2050 compared to installations in 2018 (480 GW). This represents a CAGR of nearly 9% up to 2050. Green hydrogen produced from solar PV/electrolyser combination is a significant opportunity. Rapid Growth in
Solar PV Source: FUTURE OF SOLAR PHOTOVOLTAIC, IRENA Green HiPo Installations to 2050 43% CAGR 2000-18 8.9% CAGR 2019-50 Historical Projections CUMULATIVE INSTALLED CAPACITY (GW) 480 (2018) 2,840 (2030) 8,519 (2050)
Any Fuel. Anywhere. Advent Green HiPo: Fuel cells for CHP & mobility markets Green
HiPo 5 THROUGH GREEN HiPo, ADVENT WILL MANUFACTURE FUEL CELL SYSTEMS OF TOTAL POWER OUTPUT 120MW WITHIN AN INITIAL PERIOD OF 6 YEARS. SEAMLESS, CONSISTENT GENERATION OF CLEAN POWER AND HEAT TIES IN WITH THE LARGE DOMESTIC H2
INFRUSTRUCTURE PROJECTS IDEAL FOR MOBILITY MARKET UNIQUE FOR THE GREEK MARKET CONTRIBUTE TO THE NATIONAL GOAL FOR ENERGY TRANSITION TO CLEAN ENERGY
Fuel cells are targeting several sectors (heavy duty mobility, maritime and aviation, stationary and
energy-to-hydrogen), having competitive advantages over other alternatives Green HiPo Fuel cells: Off takers and applications BATTERY EV OFF-GRID & PORTABLE TRUCKS, BUSES AVIATION 100
kWh MWh MWh-GWh 4hrs 8hrs 12+hrs days Autonomy P2X, CHP & MARINE HEAVY-DUTY MOBILITY ENERGY: GRID POWER H2 (PURE) H2 (PURE, REFORMED, LOHC), METHANOL, E-FUELS, NATURAL GAS) COMPETITION: LI-ION LOW-TEMPERATURE PEM
SOFC/MCFC 7
Exhibit 99.7
INVESTOR DAY 2022 1 Green HiPo Market Potential Naiem Hussain, Chief Investment Officer
Status 2 Green HiPo Year Funding (euro
million) 1 35.8 2 84.3 3 175.7 4 259.3 5 111.7 6 115.2 Total 782.1 Notification received from Greek State on June 16 EU ratification forecast by end of July Advent’s Green HiPo project received notification from the Greek
State on June 16 for funding under the IPCEI Hydrogen Technology. The notification from the Greek State was sent to the EU under the IPCEI framework. Upon EU ratification, total funding of euro 782.1 million for Advent’s Green HiPo
project will be made available over a period of 6 years. Year Funding (euro million) 1 35.8 2 84.3 3 175.7 4 259.3 5 111.7 6 115.2 Total 782.1
Highlights 3 Green HiPo Total grant of 782.1m € Green HiPo: Innovative Production of HT-PEM Fuel
Cells and
Electrolysers 1https://www.rechargenews.com/energy-transition/repowereu-global-demand-for-hydrogen-electrolysers-in-2030-will-be-about-six-times-higher-than-available-supply/2-1-1182589 2https://www.fch.europa.eu/sites/default/files/Evidence%20Report%20v4.pdf Market
Potential Electrolysers: If Advent Green HiPo has 0.35% share of 400GW projected by 20301, then this gives cumulative electrolyser capacity of 1.5GW over 6 years. At an estimated electrolyser price of $300/kW, this gives cumulative revenue
of $ 450m. Fuel Cells: If Advent Green HiPo has 0.07% share of 170GW projected by 20302, then this gives cumulative fuel cell capacity of 120MW over 6 years. At an estimated fuel cell price of $1,700/kW, this gives cumulative revenue of $
205m. Duration 2022-2027 R&D and Production Facilities Direct and indirect cooperation with approximately 20 European entities
Global Hydrogen Projects 4 HyDeal Ambition (67GW) | Western Europe Unnamed (30GW) |
Kazakhstan Western Green Energy Hub (28GW) | Australia AMAN (16GW)a | Mauritania Asian Renewable Energy Hub (14GW) | Australia Oman Green Energy Hub (14GW)a | Oman AquaVentus (10GW) | Germany NortH2 (10GW) | Netherlands H2
Magallanes (8GW) | Chile Beijing Jingneng (5GW) | China Project Nour (5GW)a | Mauritania HyEnergy Zero Carbon Hydrogen (4GW)a | Australia Pacific Solar Hyrdogen (3.6GW) | Australia Green Marlin (3.2GW) | Ireland H2-Hub Gladstone
(3GW) | Australia Moolawatana Renewable Hydrogen Project (3GW)a | Australia Murchison Renewable Hydrogen Project (3GW) | Australia Unnamed (3GW) | Namibia Base One (2GW)a | Brazil Hellos Green Fuels Project (2GW) | Saudi Arabia
1 2 3 4 5 6 7 8 9 Twenty of the world’s largest announced giga-scale green hydrogen projects. 10 11 12 13 14 15 16 17 18 20 19 Map source: Natural Earth, 2021
Green Hydrogen Economics: A Multi-Billion Dollar Opportunity 5 Green HiPo Average annual funding
potentially available for hydrogen projects, 2021-2030 Estimated market potential for hydrogen equipment and components, 2050 Advent AEM: The Future of Green Hydrogen Production Production Transformation Transportation End Use USD
60-65 bn USD 35-40 bn USD 25-30 bn USD 80-90 bn Transport Industry USD 50-60 bn for electrolysers, including balance of plant USD 21-25 bn for ammonia USD 5-7 bn for storage USD 21-25 bn for fuel cells USD 16-20 bn for iron
reduction and electric-arc furnace USD 5-7 bn for compression USD 11-15 bn for onboard storage USD 16-20 bn for carbon-based compounds (e.g. methanol, synfuels, LOHC) USD 2-5 bn for pipelines USD 8-10 bn for combustion engines USD
11-15 bn for equipment USD 5-7 bn for capture technology USD 11-15 bn for other distribution USD 3-6 bn for fueling stations USD 8-10 bn for heat and power generation Source: https://about.bnef.com/new-energy-outlook/ Source:
https://www.bcg.com/en-in/publications/2021/capturing-value-in-the-low-carbon-hydrogen-market USD bn