LIVERMORE, Calif., Oct. 27, 2025 — Advent Technologies Holdings, Inc. (NASDAQ: ADN), through its wholly owned subsidiary Advent Technologies S.A., is pleased to announce its official collaboration with Arxicon, a leading Greek engineering and project management firm, for the development of its master plan for the RHyno Project.
The RHyno Project officially commenced on April 1, 2025, and is funded by the EU Innovation Fund. It involves the development and construction of the facility and key infrastructure for manufacturing innovative fuel cells, electrolysers, and their critical components, including Advent’s cutting-edge Membrane Electrode Assembly (MEA) technology, at megawatt scale. RHyno aims to revolutionize clean energy systems by enhancing power density and lifespan, while significantly reducing weight and volume through a streamlined balance of plant. The project will reinforce Advent’s leadership in the fuel cell market and mark its strategic entry into the rapidly evolving electrolyser sector. The total non-dilutive grant portion of the funding to be awarded to Advent for RHyno is €34.5 million. For more information visit: www.adventrhyno.com.
Gary Herman, CEO of Advent Technologies, commented, “We are thrilled to work with Arxicon and have the benefit of its extensive experience and proven track record in delivering complex infrastructure projects across continents. Together, we aim to accelerate the deployment of next-generation hydrogen technologies and contribute meaningfully to Europe’s clean energy transition.”
Savas Ioakimides, CEO, Board of Principals and Founding Partner of Arxicon, added, “We are immensely proud to bring our specialized engineering and consulting expertise to the RHyno Project and partnering with Advent on this landmark initiative. Our role is to provide the managerial, architectural and engineering backbone for this state-of-the-art, efficient and sustainable manufacturing hub in Kozani Greece. We believe this collaboration is a pivotal moment for Greece in taking the lead in Europe’s hydrogen economy, securing its energy independence toward a fully sustainable Type I status.”
Konstantinos Ferderigos, Advent’s General Manager for Greece, commented, “We are excited to join forces with Arxicon on the RHyno Project, a milestone initiative for Greece and Europe’s clean energy future. The project will further Europe’s goal of energy independence and showcase Greece’s growing role in the global clean tech landscape.”
About Advent Technologies Holdings, Inc.
Advent Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete fuel cell systems, as well as supplying customers with critical components for fuel cells in the renewable energy sector. Advent is headquartered in Livermore, CA, with offices in Germany, Athens, Kozani and Patras, Greece. With more than 70 patents issued, pending, and/or licensed for fuel cell technology, Advent holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information visit our website at www.advent.energy
About Arxicon
Arxicon has operated in three continents, together with its partners, joint ventures, and consortiums, providing a full range of services in more than fifteen countries. With over €500 million in completed projects since 2000, Arxicon brings unmatched expertise and professionalism as consultants, main contractors, sub-contractors, and outsourcing collaborators. This extensive experience equips Arxicon to be a valuable partner for future projects across its service domains. For more information visit: www.arxicon.com