ADVENT TECHNOLOGIES HOLDINGS, INC.

Advent Technologies Holdings, Inc. is an advanced materials and technology development company focused on fuel cell and hydrogen technology, including liquid hydrogen carriers like methanol. The company specializes in High Temperature Proton Exchange Membrane (HT-PEM) technology, holding approximately 150 patents issued, pending, or licensed worldwide. This technology allows off-grid power systems to generate clean power from various green fuels such as hydrogen, methanol, bio and e-Methanol, and renewable natural gas. HT-PEM fuel cells operate with higher efficiency in extreme temperatures and environmental conditions like humidity and air pollution. Advent's primary operations involve developing and manufacturing the Membrane Electrode Assembly (MEA) and the fuel cell stack, which are the core electrochemical elements of a fuel cell. These components are critical in determining the lifetime, power density, efficiency, and overall cost of installation and operation. Advent collaborates with global market-leading Original Equipment Manufacturers (OEMs) to develop complete fuel cell systems for stationary power markets (backup, off-grid, and portable power) and heavy-duty mobility markets (automotive, aviation, marine). The company aims to provide fuel cells with a lower Total Cost of Ownership (TCO) compared to diesel generators and internal combustion engines. A significant portion of current revenue comes from Joint Development Agreements (JDAs) and Technology Assessment Agreements (TAAs) with OEMs for joint product development. The goal is for OEMs to market specialized fuel cell systems branded by them, featuring Advent-inside technology (the Advent MEA and/or fuel cell stack). Advent also possesses extensive know-how and intellectual property in complete fuel cell systems, which it intends to license to OEMs and Tier 1s.