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Advent Shares Pop On Winning Fuel Cell Systems Supply Contract In Germany

·1 min read
  • Advent Technologies Holdings Inc (NASDAQ: ADN) has signed a three-year agreement with the German State of Brandenburg for the supply of methanol-powered fuel cell systems. The financial terms were not disclosed.

  • Advent's solution was selected as part of a tender launched by the German State of Brandenburg.

  • Advent's methanol-powered fuel cell systems will be used as a backup power source for Brandenburg's BOS digital radio network, replacing the diesel-driven emergency power systems over the next three years.

  • BOS is a secure means of communication, allowing safe and easy communication for first responders and other public safety officials.

  • "This new partnership marks a major step towards the wider adoption of HT-PEM fuel cells as a backup power source in critical infrastructure applications across Europe. We look forward to joining similar projects in the near future," said Advent Technologies GmbH SVP Daniel Hennig.

  • Price Action: ADN shares are trading higher by 9.45% at $3.99 on the last check Monday.

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