Advent Technologies Holdings, Inc. (NASDAQ:ADN) shares are trading higher after the company announced it received notification of euro 782.1 million of funding from the Greek State for the IPCEI Green HiPo project.
Advent's Green HiPo project was originally among five projects out of twenty candidates from Greece for IPCEI funding. These five projects were then subject to detailed review and due diligence by the EU, resulting in two projects now being notified by the Greek State.
Dr. Vasilis Gregoriou, Advent Chairman and CEO, stated, "Today is a milestone day for Advent but also for Greece and Europe. Green HiPo will catalyse a sea-change of operational events within Advent while the project is implemented.”
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.
ADN Price Action: Advent Technologies Holdings, Inc. has traded between $10.14 and $1.13 over a 52-week period.
The stock was trading about 215% higher at $3.66 per share on Thursday at the time of publication.
