Advent Technologies sent to the Ministry of Finance the updated financial data of the company for the fiscal year 2023 as well as the data for the first quarter of 2024.

This is the only outstanding issue that the competent authorities of the Ministries of Development and Finance said was on the part of the company in order to "unlock" the long-awaited investment of 64 million euros, with the state subsidy amounting to 24 million euros.

When the Athens News Agency questioned Advent Technologies' CEO, Dr. Vassilis Grigoriou, he confirmed that the data had been sent and explained that it "has been simultaneously published at the company's headquarters in California, USA, as required by US law, since this technology company is listed on Nasdaq."

Gregoriou said that "once the Ministry of Finance gives the green light, we can start implementing our investment plan tomorrow.". He added that "the company will seek additional financing" in order to cover its investment plan of EUR 64 million.

Advent has purchased the necessary land in Kozani, where it plans to develop its premises, and has also proceeded to recruit some specialist scientific and administrative staff.

Recall that Advent's Green HiPo is a part of the "IPCEI Hy2Tech" Projects of Common European Interest, which the European Commission approved in July 2022 to "support research, innovation, and early industrial development in the hydrogen value chain." As far as the company is concerned, it envisages "the design and development of innovative hydrogen fuel cell and electrolyte systems and the creation of 650 jobs.".