Why Advent Technologies Stock Is Soaring Today

Advent Technologies Holdings Inc ADN shares are trading higher Monday after the company's Green HiPo project received official ratification from the European Commission.

Advent's project was recognized under the framework of the Important Projects of Common European Interest (IPCEI). The IPCEI will cover a wide part of the hydrogen technology value chain, including the generation of hydrogen, fuel cells, storage, transportation and distribution of hydrogen. Advent participates in both the generation of hydrogen and fuel cells.

The Green HiPo project involves the development, design and manufacture of HT-PEM fuel cells and electrolysers for the production of power and hydrogen, respectively. 

Advent is a U.S. corporation that develops, manufactures and assembles complete fuel cell systems as well as supplying customers with critical components for fuel cells in the renewable energy sector.

See Also: Benzinga Before The Bell: Amazon Wages Price War On Tesco, Biden's Campaign Promise To Free Cannabis Prisoners, H&M Exits Russia And Other Top Financial Stories Monday, July 18

ADN Price Action: Advent has traded between $10.04 and $1.13 over a 52-week period.

The stock was up 31.4% at $3.46 at press time, according to data from Benzinga Pro.