Advent Technologies grows hydrogen fuel cell business with new acquisitions

Advent Technologies grows hydrogen fuel cell business with new acquisitions

Advent Technologies is continuing its hydrogen and fuel cell expansion through the successful acquisition of SerEnergy and Fischer Eco Solutions (FES).

SerEnergy operates facilities in Denmark and Philippines and is also regarded as one of the leading manufacturers of high-temperature polymer electrolyte membrane (HT-PEM) fuel cells globally.

With this acquisition, Advent Technologies is progressing its own ambitions to be at the forefront of hydrogen and fuel cells, and it marks a major step forward in achieving this target.

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SerEnergy primarily manufactures remote, off-grid power fuel cell systems that are a natural fit for Advent’s unique strategy and portfolio.

FES on the other hand operates in Germany and provides fuel cell stack assembly and testing as well as the production of critical fuel cell components, including membrane electrode assemblies (MEAs), bipolar plates, and reformers.

Dr. Vasilis Gregoriou, Chairman and CEO of Advent, said, “We are excited to welcome the highly skilled and innovative team of SerEnergy and fischer eco solutions to the Advent family. The technical expertise and manufacturing capabilities of our new colleagues in Denmark and Germany are an excellent match for our strategic growth plan.

“We expect the SerEnergy off-grid and telecom-tower products to benefit significantly from Advent’s product development advances in new materials. In return, we expect that the manufacturing experience they bring will further accelerate our go-to-market plan.

“This acquisition is expected to position Advent as a fuel cell leader with the ability to deliver thousands of systems per year in the off-grid, portable, and other power-generation markets, with capacity in place.”

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