ADN - Advent Technologies buys fuel cell systems businesses of Fischer Group for Euro52 million

Zhanna Hapanovich/iStock via Getty Images Advent Technologies Holdings (ADN) inks an agreement to acquire the fuel cell systems businesses of Fischer Group for an aggregate consideration of cash and stock of €52.0 million. The deal comprises fuel cell manufacturer SerEnergy in Denmark and fischer eco solutions ((FES)) GmbH in Germany. SerEnergy is a manufacturer of high-temperature polymer electrolyte membrane fuel cells worldwide. FES provides fuel-cell stack assembly and testing and the production of critical fuel cell components. "SerEnergy and FES have established state-of-the-art R&D and manufacturing operations in Denmark and Germany. We believe the acquisition significantly accelerates and de-risks our R&D human-resources and manufacturing scale-up production plan," said Dr. Emory De Castro, CTO of Advent. "The next-generation Advent MEA, developed in the USA, will provide a significant cost advantage to the SerEnergy systems and be a catalyst for increasing market share. We believe that this is a marriage where the

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Advent Technologies buys fuel cell systems businesses of Fischer Group for €52 million