Advent Technologies Holdings Inc
advent.energyWhat Do They Do?
Develops and sells fuel-cell systems and membrane electrode assemblies for equipment makers serving stationary power, portable power and heavy-duty mobility markets.
10-K for FY2024, filed Jun 6, 2025We are an advanced materials and technology development company operating in the fuel cell and hydrogen technology space, including liquid…View ↗
A large portion of our current revenue is derived from Joint Development Agreements (JDAs) and Technology Assessment Agreements (TAAs) with…View ↗
The majority of Advent’s current revenue derives from the sale and servicing of fuel cell systems and MEAs, as well as the sale of…View ↗
How Do They Make Money?
Advent earns money from fuel-cell goods and development and other service work for equipment makers; goods are sold as products, while much of the service work is carried out over time.
10-K for FY2024, filed Jun 6, 2025A large portion of our current revenue is derived from Joint Development Agreements (JDAs) and Technology Assessment Agreements (TAAs) with…View ↗
Schedule of revenue Years Ended December 31, (Amounts in thousands) 2024 2023 Sales of goods $ 199 $ 918 Sales of services 3,077 618 Total…View ↗
Years Ended December 31, (Amounts in thousands) 2024 2023 Timing of revenue recognition Revenue recognized at a point in time $ 526 $ 918…View ↗
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10-K for FY2024, filed Jun 6, 2025
FY2024 revenue by product or service (Revenue, net) ↗
$3.3M
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10-K for FY2024, filed Jun 6, 2025
$3.3M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Sales of Goods
Sold outright
|
6.1%
FY2021: 95%
|
Sales of Goods, FY2024
$199K Sources
|
Sold outright |
|
Service
Recurring
10-K for FY2024, filed Jun 6, 2025 |
94%
FY2021: 5.3%
|
Service, FY2024
$3.1M Sources
|
Recurring |
Who Are Their Customers?
OEMs work with Advent through joint development and technology-assessment agreements; its systems serve telecom towers, critical infrastructure and defense applications.
10-K for FY2024, filed Jun 6, 2025A large portion of our current revenue is derived from Joint Development Agreements (JDAs) and Technology Assessment Agreements (TAAs) with…View ↗
Our headquarters are in Livermore, California, and we have MEA and fuel cell stack product development facilities in Livermore, California…View ↗
To date, Advent has delivered over 1,200 of these systems, totaling 731,274 operational hours and consuming 1.2 million liters of methanol…View ↗
Do Revenues Turn Into Profits?
No. It lost $41M in FY2024.
10-K for FY2024, filed Jun 6, 2025
How Are They Changing?
- Net income
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Sources
10-Q for Q3 FY2025, filed Nov 17, 2025
$8.6MView ↗
- ▲ Now profitable
- vs −$18.5M in Q3 FY2024
10-Q for Q3 FY2025, filed Nov 17, 2025
Open tableView ↗
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Jul 22, 2026
Common stock moved to the OTC Expert Market on an unsolicited-quotes-only basis
The OTC Markets Group notified Advent of the move.
Sources
8-K, filed Jul 22, 2026
On July 20, 2026, Advent Technologies Holdings, Inc. (the “Company”), received a notification from the OTC Markets Group that the Company’s…View ↗
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Oct 29, 2025
Nasdaq began delisting proceedings and suspended trading in the securities
The common stock was expected to continue trading on the OTC market.
Sources
8-K, filed Oct 29, 2025
On October 28, 2025, Advent Technologies Holdings, Inc. (the “Company”) received a notice (the “Notice”) from The Nasdaq Stock Market LLC…View ↗
Growing. Revenue grew 4.5x in 4 years, from $731.9K in FY2020 to $3.3M in FY2024, about 45% a year.
From plans to OEM projects
The earlier report described mobility as a market Advent planned to enter; the latest report describes joint development agreements and technology assessments with aerospace and automotive companies.
10-K for FY2021, filed Mar 31, 2022 10-K for FY2024, filed Jun 6, 2025We develop and manufacture high-temperature proton exchange membranes (“HT-PEM” or “HT-PEMs”) and fuel cell systems for the off-grid and…View ↗
This advantage has been the key reason that Advent has had success in establishing strategic relationships with companies in the Aerospace…View ↗
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