BOSTON, April 06, 2022–(Enterprise WIRE)–Introduction Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Business”), an innovation-pushed leader in the fuel mobile and hydrogen technologies sectors, is pleased to announce the signing of a technologies evaluation, sales, and progress arrangement with Hyundai Motor Firm (“Hyundai”), a foremost multinational automotive manufacturer offering a variety of environment-class cars and mobility expert services in in excess of 200 nations around the world.
Introduction and Hyundai intention to supply eco-friendly energy options to existing large carbon apps, utilizing fuel mobile technologies. Less than the agreement, Hyundai will give catalysts to Arrival for analysis in its proprietary Membrane Electrode Assemblies (“MEAs”), whilst Advent intends to support Hyundai in satisfying its gasoline mobile job demands, through:
Building inks and structures making use of IFAT catalysts, which will then be evaluated by IFAT. Subsequent evaluation, Hyundai will figure out regardless of whether IFAT or common catalysts will be employed for this undertaking.
Giving MEAs in the course of the growth/commercialization cycle (“Introduction MEAs”) for screening, evaluation, and optimization under situations set by Hyundai.
Aiding Hyundai with the use and specs of MEAs as perfectly as their implementation into Hyundai’s models.
Following the completion of the first period of the venture, the organizations will collaborate intently to set out distinct solution necessities, collaborative item objectives, as nicely as milestones for acquiring founded objectives and plans for period 2, which shall also consist of Advent’s stack cooling technologies.
The new Advent MEAs to be examined by Hyundai are at this time becoming formulated in just the framework of L’Innovator, Advent’s joint enhancement plan with the U.S. Section of Energy’s Los Alamos Nationwide Laboratory, Brookhaven National Laboratory, and Nationwide Renewable Vitality Laboratory. MEAs are the most crucial components of a gas cell as they significantly determine the overall performance, life time, weight, and cost of the conclusion program.
Introduction MEAs operate at a substantial temperature (80oC to 240oC) in comparison to the incumbent reduced temperature PEM technological know-how, which is limited to an working temperature of underneath 100oC. The means to run at a significant temperature confers major advantages this kind of as the productive warmth removing in weighty-obligation mobility apps, building Advent’s higher temperature PEM an ideal technologies for trucks, aviation, and marine purposes. Advent’s MEAs can run effectively with fuels these types of as impure hydrogen which can be reformed on-board from methanol, all-natural gasoline, and other renewable fuels. Advent’s MEAs are also resilient to intense temperature variations, humidity, and air high-quality situations.
Dr. Emory De Castro, Advent’s Chief Engineering Officer, mentioned, “We are thrilled and happy to join forces with Hyundai, aiming to significantly contribute to their mission and to jointly take part in the pivotal job to changeover worldwide culture to cleanse energy, for that reason creating hydrogen an economically viable vitality source. MEAs variety the heart of the gasoline mobile and they are also a significant ingredient for other electrochemistry purposes, these as CO2-free hydrogen manufacturing, and, energy storage. We hope our proprietary MEAs will best serve Hyundai’s enterprise desires and search forward to a lengthy and really prosperous collaboration, sharing our prolonged-standing know-how to help Hyundai in bringing its long term mobility technique to lifestyle.”
About Arrival Systems Holdings, Inc.
Arrival Systems Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles complete gasoline mobile techniques, and the significant factors for fuel cells in the renewable vitality sector. Arrival is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With a lot more than 100 patents issued for its gas cell technologies, Advent retains the IP for future-era HT-PEM that enables a variety of fuels to operate at high temperatures and below serious disorders – presenting a versatile “Any Fuel. Any where.” option for the automotive, aviation, protection, oil and fuel, maritime, and power technology sectors. For more info, visit www.arrival.electrical power.
Cautionary Notice Regarding Ahead-Hunting Statements
This press release contains forward-on the lookout statements. These ahead-on the lookout statements generally can be determined by the use of words and phrases this sort of as “anticipate,” “expect,” “system,” “could,” “could,” “will,” “imagine,” “estimate,” “forecast,” “aim,” “challenge,” and other text of similar this means. Each individual forward-hunting statement contained in this push launch is subject to hazards and uncertainties that could result in actual outcomes to differ materially from all those expressed or implied by such assertion. Applicable challenges and uncertainties involve, among others, the Company’s skill to manage the listing of the Company’s prevalent inventory on Nasdaq future financial overall performance general public securities’ prospective liquidity and trading affect from the consequence of any known and unidentified litigation potential to forecast and sustain an satisfactory charge of revenue growth and properly plan its costs expectations about future expenses upcoming blend of profits and influence on gross margins attraction and retention of experienced directors, officers, workers and essential staff ability to compete effectively in a competitive market skill to secure and increase Advent’s company name and brand name expectations concerning its interactions and actions with technologies companions and other third get-togethers impression from long run regulatory, judicial and legislative variations to the marketplace potential to find and obtain complementary systems or companies and integrate individuals into the Company’s organization potential preparations with, or investments in, other entities or associations and powerful opposition and aggressive force from other organizations around the world in the industries in which the Business will function and the hazards recognized underneath the heading “Risk Components” in Advent’s Once-a-year Report on Type 10-K/A filed with the Securities and Trade Fee on May 20, 2021, as properly as the other info submitted with the SEC. Investors are cautioned not to position substantial reliance on the ahead-hunting statements contained in this push launch. You are encouraged to read Advent’s filings with the SEC, offered at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-hunting statements in this push launch converse only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements. Advent’s organization is matter to considerable pitfalls and uncertainties, like people referenced earlier mentioned. Investors, opportunity buyers, and other people ought to give cautious thought to these threats and uncertainties.
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Introduction Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis