George Paloumpis Rejoins Advent Technologies as Chief of Operations of its Patras Facility

ATHENS, Greece, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Advent Technologies Holdings, Inc. (NASDAQ:ADN) ("Advent "or the "Company"), is pleased to announce that George Paloumpis has rejoined the Company as the Chief of Operations in Patras, Greece. Prior to this, Mr. Paloumpis was the Director of Manufacturing.

Konstantinos Ferderigos, Advent's General Manager in Greece, stated, "we are very excited that George has rejoined the Company. He was previously with the Company for almost 18 years and a key member of the team."

Mr. Paloumpis stated, "I am thrilled to rejoin the Company and support the new management team as they execute on their plan. I have always believed in our team and the opportunities for the Company with its innovative fuel cell technology."

Gary Herman, Chief Executive Officer stated, "we are pleased that George has rejoined the team. His expertise and passion for Advent will be an integral part of growing the Company and achieving our goals as Advent 2.0."

About Advanced Energy Technologies S.A.

Advanced Energy Technologies S.A. is a wholly-owned Greek subsidiary of Advent Technologies Holdings, Inc., focused on research and development of advanced materials and products for renewable energy. Recently, the Company's RHyno project was selected as the top project amongst 385 applicants across Europe for €34.5 million in funding from the EU's Innovation Fund.

About Advent Technologies Holdings, Inc.

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. Advent is headquartered in California with offices in Greece and holds the IP for next-generation HT-PEM that enables various fuels to function at high temperatures and under extreme conditions, suitable for the automotive, aviation, defense, oil and gas, marine, and power generation sectors. For more information, visit www.advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to maintain the listing of the Company's common stock on Nasdaq; future financial performance; public securities' potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance Advent's corporate reputation and brand; expectations concerning its relationships and actions with technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company's business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading "Risk Factors" in Advent's Annual Report on Form 10-K filed with the Securities and Exchange Commission on August 13, 2024, as well as the other information filed with the SEC. Investors are cautioned not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read Advent's filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent's business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Contacts

Advent Technologies Holdings, Inc.

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