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DEPA signs MoU with Advent Technologies to collaborate on hydrogen projects

Advent Technologies, a US innovation-driven leader in the fuel cell and hydrogen technology space signed a Memorandum of Understanding (MoU) with DEPA, the leading importer of pipeline gas and liquefied natural gas (LNG) in Greece to enter into a strategic collaboration on hydrogen projects of common interest.

“Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country,” said DEPA’s CEO, Konstantinos Xifaras. “DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint. We look forward to working with Advent’s team of experts, contributing to the diversification of the national energy mix and the security of the energy supply while simultaneously strengthening the national economy.”

“We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece’s energy future,” commented Vasilis Gregoriou, Advent’s Chairman and CEO. “DEPA is a trusted partner with significant experience and a strong presence in the energy sector of South East Europe. We look forward to long-term cooperation with DEPA in an effort to jointly accelerate Greece’s transition to clean energy production and transport and to further strengthen our common presence on the global hydrogen map.”

The MoU sets out the framework for a forthcoming mutually binding agreement. The parties have preliminarily agreed to collaborate on the production of environmentally friendly hydrogen as a fuel with the participation of other major industrial partners. Secondly, to co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90 per cent and with multi-fuel operating capabilities that can address the key current, future and on-grid, off-grid operation modes and business cases. And finally, to create an innovation hub for the Greek hydrogen and fuel cell industry and develop synergies for promoting hydrogen and related technologies.

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