Advent Technologies receives formal invitation from Greek state for grant for Green HiPo IPCEI project

After Advent submits the requested documentation, the Greek Ministry of Economy and Finance is expected to proceed with the disbursement of a €24 million state aid package from Greece’s Just Transition Fund (JTF) for the implementation of the Green HiPo project. Expenses related to the project are eligible for reimbursement retroactive to 15 June 2022, the date of notification to the EU’s Directorate-General for Competition of Greece’s participation in the IPCEI Hy2Tech programme. Advent will also look to secure additional funding to round out the full €60 million which was authorised under the IPCEI’s project budget.

Advent was one of only eight SMEs to have received ratification within Europe under the IPCEI Hy2Tech programme. The project's direct participants will cooperate closely through numerous planned collaborations with more than 300 external partners, such as universities, research organisations and SMEs across Europe.

The Green HiPo project involves the development, design, and manufacture of HT-PEM fuel cells and electrolysers for the production of power and green hydrogen, respectively. The project will be based in the Western Macedonia region of Greece and will be instrumental in the region's transition to a greener economic model. A new facility in Kozani, Greece will be home to fuel cell and electrolyser production. It will contribute to the economic development of the region and help Europe achieve its current target of 10 million t of renewable hydrogen production by 2030.

Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies, commented: "The long anticipated invitation or 'call' for the Green HiPo project from the Greek State has finally arrived. Green HiPo, alongside other initiatives slated for implementation in Western Macedonia, represents a very real opportunity for the region to transition from a coal-dependent economy to a more environmentally friendly economic model. We are excited to continue working with our partners across Europe to move forward towards energy security and independence, with hydrogen technologies playing a crucial role."

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/27022024/advent-technologies-receives-formal-invitation-from-greek-state-for-grant-for-green-hipo-ipcei-project/