What is Advent Technologies’ mission in the automotive industry?
Our mission at Advent Technologies is to accelerate clean electrification through next generation high-temperature fuel cell technology. In the automotive industry, we are focused on solving the range and recharge time problems currently faced by electric vehicles. Our systems can use hydrogen or hydrogen carrying efuels, making them particularly suitable for commercial and heavy-duty vehicles. Advent’s fuel cells solve the problem of water management and heat transfer faced by other fuel cell technologies and can also operate above 100oC, making them ideal for use in extreme environments.
This March, Advent signed an agreement with Hyundai Motor Company to jointly develop technology and evaluate our advanced fuel cell solutions for Hyundai's heavy-duty automotive as well as stationary applications. The goal is to combine the two companies’ expertise to accelerate decarbonization across the heavy-duty automotive industry by providing significant improvements to the lifetime and power density of fuel cells.
In simple terms, how does a fuel cell work?
Fuel cells are electrochemical devices that generate electricity and heat. The electrochemical reaction that occurs within a fuel cell can generate clean energy from a fuel source such as hydrogen, providing a near constant load of durable high power. The level of harmful emissions generated by fuel cells can vary depending on the fuel source utilized, with certain fuels resulting in minimal or no harmful emissions and only water vapor as exhaust. As fuel cells can be stacked to provide more energy for larger applications through an increase in voltage, they can power up both small and large devices – think of a drone all the way up to a tanker. Fuel cells are already being used in applications such as back-up power, portable devices, buildings, and vehicles. They are the gateway to a decarbonized world due to their durability and flexibility, and they will be essential to paving the way towards a new clean energy economy.
Advent Technologies HT-PEM (which stands for High Temperature Proton Exchange Membrane) fuel cells can operate at high temperatures, such as above 100°C. This allows the use of liquid green fuels (like eMethanol), provides increased efficiency as we can use the heat in addition to the electricity, and results in high resilience. HT-PEM fuel cells can work with impure hydrogen, impure air-intake, and in very high and very low ambient temperature and humidity conditions. Increasing efficiency and lifetime results in lower cost per mile, which is the goal. Furthermore, the use of liquid efuels means that we can leverage all existing infrastructure now, rather than wait for hydrogen refueling and storage facilities to be set-up around the world. We believe that green hydrogen carriers (like emethanol biomethanol) will have wide adoption, especially in Asia and other developing regions.
What role is hydrogen expected to play in the industry's pursuit of a green future?
The hydrogen economy is here, now. First, we need to differentiate between the different types of hydrogen. Grey hydrogen is derived from fossil fuels, so grey hydrogen is likely to be phased out in the future. Blue hydrogen, which is produced from natural gas and supported by carbon capture and storage, is a compromise and will have some role going forward.The most environmentally friendly fuel option is green hydrogen, which can be derived through renewable sources such as solar and wind power. Green hydrogen is produced through the process of electrolysis, where water is split into oxygen and hydrogen without the release of harmful emissions.
Massive production of green hydrogen will be needed to decarbonize industries. Steel, fertilizers and refineries account for approximately 14% of global CO2 emissions.
If we want to tackle climate change, and provide our future generation with a clean, sustainable world, then we need to put more focus today on scaling-up green hydrogen to support the auto industry’s energy transition.
At Advent, we are excited to be a part of this change. We have innovation on our side: our high-temperature fuel cell components are being developed via the L’Innovator Project, a joint development program we have with the U.S. Department of Energy’s Los Alamos National Laboratory, Brookhaven National Laboratory, and National Renewable Energy Laboratory. Our competitive advantage is our ability to perform at high temperatures. The ability for the power source – in our case fuel cells – to operate at high temperatures is essential for heavy-duty vehicle applications to manage heat transfer effectively in the engine. This puts us in a unique position for future growth with automotive partners.
What is the potential rate of hydrogen adoption in the automotive industry, and what are your future plans in relation to this timeline?
The potential rate of hydrogen adoption in the automotive industry is subject to various factors such as the availability of infrastructure, cost competitiveness, and regulatory support. The most important factor will be the availability of low-cost (initially subsidized) green hydrogen. Once the fuel is available, at the right price, the technology scale-up and adoption will follow.
While hydrogen fuel cell vehicles currently account for a small fraction of global vehicle sales, the industry has seen an increasing interest in fuel cell technology as a viable alternative to battery electric vehicles, particularly for heavy-duty applications such as trucks and buses. The transportation industry is facing increasing pressure to decarbonize; and battery electric vehicles are already reaching total cost of ownership parity for short-haul freight. However, long-haul trucking remains challenging due to high payloads, long distances, and the need for fast refueling and greater range. Hydrogen-powered fuel cells have become increasingly attractive compared to batteries due to faster refueling, incredible range, and the ability to increase cargo capacity, all while improving costs.
Hydrogen is also a key link for decarbonizing hard-to-abate sectors, where there are clear benefits for both vehicles and infrastructure. The business case for hydrogen infrastructure is becoming increasingly attractive as hydrogen sourcing costs decline and vehicle demand increases, with hydrogen-fueled trucks becoming cheaper to operate in the long-term than diesel trucks.
The efficiency and adoption of a new energy source can differ across continents. In Europe, hydrogen can be seen as the holy grail of energy independence. In the U.S., there are significant natural gas resources so there is no immediate drive to shift away from fossil fuels. However, government policy can drive change. Just look at the US Inflation Reduction Act of 2022, which is a strong stimulus for clean energy adoption.
At Advent, we plan to expand in sectors where there is a clear advantage for our business model to make a difference for industries and governments moving to a net-zero future.
