Advent Technologies is expanding its operations in the US with the acquisition of fuel cell specialist UltraCell.
A division of Bren-Tronics, UltraCell specialises in lightweight for cells for the portable power market, with technology that can use hydrogen or liquid fuel to deliver reliable power.
Already deployed in the field by military and security agencies, UltraCell systems have been known to perform in stringent and challenging conditions and climates.
UltraCell’s fuel cell innovations will complement the development of Advent’s next-generation lightweight systems for the mobility market.
Commenting on the acquisition, Dr. Vasilis Gregoriou, Advent’s CEO & Founder, commented: “We are excited to welcome our long-time partners from UltraCell to the Advent family.”
“The two teams share the same DNA and focus on innovation and have worked together for years, so we expect this to be a very successful combination. Our strategy is very clear, and we have put the plan in action immediately after our public listing.”
“We believe our next-generation HT-PEM technology that we co-develop with the US Department of Energy, combined with UltraCell’s expertise and lightweight stack innovations, is an unbeatable combination.”
“Together, we can bring to the market industry-leading products that will benefit various end markets.”
Bill Hunter, Advent’s CFO and President, added, “This is a high-value acquisition to extend our range in the fuel cell market. One of the first principles in technology deals is having the right people, and the two teams in this transaction know and respect each other well.”
“The UltraCell operation is very active with its product development and is expected to bring quality revenue to Advent. Our decision to retain and expand the facilities in Livermore, California, is a testament to our Made in the USA plan.”