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Advent Technologies Holdings Inc (ADN)



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Upturn Advisory Summary
08/14/2025: ADN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit -68.69% | Avg. Invested days 26 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 5.59M USD | Price to earnings Ratio - | 1Y Target Price 0.45 |
Price to earnings Ratio - | 1Y Target Price 0.45 | ||
Volume (30-day avg) - | Beta 0.74 | 52 Weeks Range 1.71 - 8.79 | Updated Date 06/29/2025 |
52 Weeks Range 1.71 - 8.79 | Updated Date 06/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -11.46 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) 3586.07% |
Management Effectiveness
Return on Assets (TTM) -53.72% | Return on Equity (TTM) -1021.66% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 6043914 | Price to Sales(TTM) 1.71 |
Enterprise Value 6043914 | Price to Sales(TTM) 1.71 | ||
Enterprise Value to Revenue 1.84 | Enterprise Value to EBITDA -0.19 | Shares Outstanding 2670290 | Shares Floating 2359144 |
Shares Outstanding 2670290 | Shares Floating 2359144 | ||
Percent Insiders 11.94 | Percent Institutions 7.03 |
Upturn AI SWOT
Advent Technologies Holdings Inc
Company Overview
History and Background
Advent Technologies Holdings Inc. was founded in 2012. It focuses on developing, manufacturing, and assembling fuel cell systems and advanced materials. It went public via a SPAC merger in 2021.
Core Business Areas
- Fuel Cell Systems: Designs and manufactures fuel cell systems for stationary and portable power applications.
- Electrolyte Membranes: Develops and produces advanced electrolyte membranes for fuel cells and other electrochemical devices.
- Membrane Electrode Assemblies (MEAs): Manufactures MEAs, a critical component in fuel cell performance.
- Advent Technologies Germany GmbH (formerly BASF Fuel Cell GmbH): Acquired in 2021. Focusing on high temperature proton exchange membrane (HT-PEM) fuel cells.
Leadership and Structure
Vasilis Gregoriou is the Chairman and CEO. The company has a board of directors overseeing its strategic direction and operations. The structure includes departments for R&D, manufacturing, sales, and marketing.
Top Products and Market Share
Key Offerings
- SereneU Fuel Cell Systems: Fuel cell systems targeting stationary power applications, especially backup power. Market share is difficult to pinpoint but growing in the niche market for off-grid energy solutions. Competitors include Bloom Energy, Ballard Power Systems, and Plug Power.
- Electrolyte Membranes (HT-PEM): Proprietary membranes for high-temperature fuel cells. Limited market share data publicly available; focused on specific high-temperature applications. Competitors: Gore, 3M.
Market Dynamics
Industry Overview
The fuel cell industry is growing, driven by demand for clean energy and government incentives. Key growth areas include transportation, stationary power, and portable power.
Positioning
Advent Technologies focuses on high-temperature proton exchange membrane (HT-PEM) technology, which offers advantages in fuel flexibility and system simplicity. They are a specialized player in this segment.
Total Addressable Market (TAM)
The fuel cell market is projected to reach billions of dollars. Advent is targeting specific segments, and their positioning in HT-PEM can secure a niche within the TAM. Some sources project a TAM of around $15 Billion by 2030.
Upturn SWOT Analysis
Strengths
- Proprietary HT-PEM technology
- Strategic acquisition of BASF Fuel Cell GmbH assets
- Experienced leadership team
- Collaborations with research institutions
- Developing solutions for stationary, portable, and potentially transportation applications
Weaknesses
- Relatively small market share compared to larger players
- Dependence on government funding and incentives
- History of losses/Lack of profitability
- Limited track record of large-scale commercial deployments
- Share price volatility
Opportunities
- Growing demand for clean energy solutions
- Expanding into new applications like transportation
- Securing partnerships with major industry players
- Benefiting from government subsidies and tax credits
- Further developing and commercializing its technology
Threats
- Competition from established fuel cell companies
- Technological advancements by competitors
- Fluctuations in government policies and funding
- Economic downturn impacting investment in clean energy
- Supply chain disruptions
Competitors and Market Share
Key Competitors
- PLUG
- BLDP
- BE
Competitive Landscape
Advent's HT-PEM technology offers advantages in certain applications, but they face competition from established players with larger market shares and broader product portfolios.
Major Acquisitions
Advent Technologies Germany GmbH (formerly BASF Fuel Cell GmbH)
- Year: 2021
- Acquisition Price (USD millions): 0
- Strategic Rationale: Strengthened HT-PEM technology and expanded R&D capabilities. No monetary transaction. Consideration was through issuance of ADN stock.
Growth Trajectory and Initiatives
Historical Growth: Growth has been driven by technology development, acquisitions, and securing contracts. The overall growth rate has fluctuated with milestones.
Future Projections: Analyst estimates vary widely, reflecting the uncertainty of the fuel cell market. Growth will depend on successful commercialization and market adoption.
Recent Initiatives: Acquisition of fuel cell assets, partnerships with automotive companies, expanding production capacity, and participating in government-funded projects.
Summary
Advent Technologies is a company focusing on fuel cell technology, with a unique strength in HT-PEM. It faces challenges related to profitability and market competition. Strategic acquisitions and technology advancements can support growth, but the company needs to effectively commercialize its products and manage financial risks.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings
- Analyst reports
- Industry publications
- Financial news sources
Disclaimers:
The data provided is for informational purposes only and should not be considered investment advice. Market share figures are estimates and may vary. Financial data is based on the latest available information, but is limited by format requirements and linked external sources. No guarantee of accuracy or completeness.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Advent Technologies Holdings Inc
Exchange NASDAQ | Headquaters Livermore, CA, United States | ||
IPO Launch date 2019-01-23 | CEO, Interim CFO & Director Mr. Gary L. Herman | ||
Sector Industrials | Industry Electrical Equipment & Parts | Full time employees 26 | Website https://www.advent.energy |
Full time employees 26 | Website https://www.advent.energy |
Advent Technologies Holdings, Inc., an advanced materials and technology development company, operates in the fuel cell and hydrogen technology markets in North America and Europe. It develops, manufactures, and assembles fuel cell systems and critical components that determine the performance of hydrogen fuel cells and other energy systems. The company offers high temperature proton exchange membrane (HT-PEM) fuel cells; and electrodes for applications in the fuel cell and energy storage markets, as well as membrane electrode assemblies (MEA). It is also involved in the design of fuel cell stacks and complete fuel cell systems for stationary power, portable power, automotive, aviation, energy storage, and sensor markets. Advent Technologies Holdings, Inc. is headquartered in Livermore, California.

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