ADN - Advent Technologies stock surges as EU ratifies Green HiPo project

• Advent Technologies ( NASDAQ: ADN ) shares climbed over 26% on Monday after the fuel cell company announced that it has received official ratification from the EU for its Green HiPo project.
• The ratification of Green HiPo was amongst 41 projects under the umbrella "IPCEI Hy2Tech" jointly prepared and notified by fifteen member states (Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Slovakia, and Spain).
• The member states will offer up to €5.4B in public funding, which is likely to unlock an additional €8.8B in private investments.
• As part of the IPCEI, 35 companies with activities in one or more member states will participate in these 41 projects. The IPCEI will cover a wide part of the hydrogen technology value chain, including hydrogen generation, storage, transportation, and distribution, fuel cells and end-users applications.
• Advent ( ADN ) will take part in both the generation of hydrogen and fuel cells.

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