Advent Technologies Holdings has signed a memorandum of understanding (MoU) with Greek gas company DEPA Commercial to collaborate on green hydrogen projects.
The MoU sets out the framework for a forthcoming mutually binding agreement.
The parties have preliminarily agreed to collaborate on the production of environmentally friendly hydrogen as a fuel with the participation of other major industrial partners.
They also plan to co-develop a proprietary and highly differentiated CHP system ready for mass production with efficiency approaching 90% and with multi-fuel operating capabilities (hydrogen, natural gas, efuels) that can address the key current, future, and on-grid, off-grid operation modes and business cases.
Finally, the pair will create an innovation hub for the Greek hydrogen and fuel cell industry and develop synergies for promoting hydrogen and related technologies.
DEPA’s chief executive Dr Konstantinos Xifaras said: “Our cooperation with Advent marks another important milestone in the advancement of hydrogen technologies in our country.
“DEPA has been closely following and actively pushed for the developments in the hydrogen sector, while Advent has extensive electrochemistry and engineering expertise and a global scale of operations and manufacturing footprint.
“We look forward to working with Advent’s team of experts, contributing to the diversification of the national energy mix and the security of the energy supply while simultaneously strengthening the national economy.”
Advent’s Chairman and chief executive Dr Vasilis Gregoriou added: “We are thrilled to be joining forces with DEPA in common renewable energy projects that hold great potential to redefine Greece’s energy future.
“DEPA is a trusted partner with significant experience and a strong presence in the energy sector of South East Europe.
“We look forward to a long-term cooperation with DEPA in an effort to jointly accelerate Greece’s transition to clean energy production and transport and to further strengthen our common presence on the global hydrogen map.”