Advent Systems and Hyundai Motor Company enter into Engineering Assessment, Product sales and Improvement Agreement

BOSTON, April 06, 2022–(Enterprise WIRE)–Arrival Technologies Holdings, Inc. (NASDAQ: ADN) (“Introduction” or the “Corporation”), an innovation-pushed chief in the gas mobile and hydrogen technological know-how sectors, is delighted to announce the signing of a know-how evaluation, income, and development settlement with Hyundai Motor Organization (“Hyundai”), a main multinational automotive maker providing a vary of entire world-course autos and mobility providers in more than 200 nations.

Arrival and Hyundai aim to deliver eco-friendly energy alternatives to recent high carbon programs, employing fuel cell technological innovation. Underneath the settlement, Hyundai will provide catalysts to Advent for evaluation in its proprietary Membrane Electrode Assemblies (“MEAs”), although Advent intends to aid Hyundai in fulfilling its fuel mobile venture needs, by:

  • Producing inks and structures working with IFAT catalysts, which will then be evaluated by IFAT. Adhering to analysis, Hyundai will identify regardless of whether IFAT or regular catalysts will be employed for this task.

  • Giving MEAs throughout the development/commercialization cycle (“Arrival MEAs”) for testing, analysis, and optimization beneath situations set by Hyundai.

  • Aiding Hyundai with the use and specs of MEAs as perfectly as their implementation into Hyundai’s models.

Adhering to the completion of the 1st phase of the challenge, the organizations will collaborate closely to set out specific product or service necessities, collaborative item goals, as well as milestones for reaching set up goals and plans for section 2, which shall also incorporate Advent’s stack cooling technologies.

The new Arrival MEAs to be analyzed by Hyundai are currently staying designed in the framework of L’Innovator, Advent’s joint development method with the U.S. Office of Energy’s Los Alamos Nationwide Laboratory, Brookhaven Nationwide Laboratory, and National Renewable Vitality Laboratory. MEAs are the most vital components of a fuel mobile as they significantly determine the efficiency, life time, body weight, and price of the close method.

Introduction MEAs operate at a superior temperature (80oC to 240oC) as opposed to the incumbent low temperature PEM technology, which is limited to an functioning temperature of underneath 100oC. The potential to work at a high temperature confers significant strengths these types of as the productive warmth removing in large-duty mobility programs, creating Advent’s higher temperature PEM an suitable engineering for vehicles, aviation, and maritime apps. Advent’s MEAs can run successfully with fuels these types of as impure hydrogen which can be reformed on-board from methanol, purely natural fuel, and other renewable fuels. Advent’s MEAs are also resilient to extraordinary temperature variations, humidity, and air high-quality situations.

Dr. Emory De Castro, Advent’s Chief Technology Officer, stated, “We are energized and proud to join forces with Hyundai, aiming to greatly add to their mission and to jointly participate in the pivotal position to changeover world modern society to clear electricity, as a result producing hydrogen an economically practical power resource. MEAs variety the heart of the fuel mobile and they are also a critical ingredient for other electrochemistry applications, these types of as CO2-totally free hydrogen production, and, vitality storage. We hope our proprietary MEAs will very best serve Hyundai’s business enterprise requirements and appear ahead to a extensive and hugely successful collaboration, sharing our prolonged-standing knowledge to assistance Hyundai in bringing its upcoming mobility system to life.”

About Arrival Technologies Holdings, Inc.

Introduction Technologies Holdings, Inc. is a U.S. corporation that develops, manufactures, and assembles comprehensive gasoline mobile devices, and the critical components for fuel cells in the renewable electrical power sector. Arrival is headquartered in Boston, Massachusetts, with offices in California, Greece, Denmark, Germany, and the Philippines. With far more than 100 patents issued for its gas cell technological know-how, Arrival holds the IP for future-technology HT-PEM that permits several fuels to function at substantial temperatures and under intense problems – offering a adaptable “Any Gas. Anyplace.” selection for the automotive, aviation, defense, oil and gas, maritime, and power technology sectors. For additional information, go to www.arrival.electrical power.

Cautionary Note Pertaining to Forward-Searching Statements

This press launch contains forward-on the lookout statements. These ahead-seeking statements usually can be determined by the use of words these types of as “foresee,” “expect,” “system,” “could,” “may possibly,” “will,” “believe,” “estimate,” “forecast,” “target,” “project,” and other words of equivalent meaning. Every single ahead-on the lookout assertion contained in this push release is topic to pitfalls and uncertainties that could bring about true outcomes to vary materially from individuals expressed or implied by this kind of statement. Relevant risks and uncertainties include things like, among the others, the Company’s ability to preserve the listing of the Company’s common inventory on Nasdaq long run money overall performance public securities’ opportunity liquidity and buying and selling effects from the result of any identified and unidentified litigation skill to forecast and manage an satisfactory level of revenue progress and properly approach its fees anticipations with regards to upcoming expenses upcoming combine of income and outcome on gross margins attraction and retention of competent directors, officers, staff and important personnel skill to compete correctly in a competitive sector skill to secure and enhance Advent’s company name and model expectations concerning its associations and steps with technological innovation associates and other third events effects from upcoming regulatory, judicial and legislative adjustments to the sector potential to identify and get complementary systems or expert services and integrate these into the Company’s business long run preparations with, or investments in, other entities or associations and extreme opposition and competitive stress from other providers globally in the industries in which the Company will function and the risks identified underneath the heading “Danger Elements” in Advent’s Annual Report on Sort 10-K/A filed with the Securities and Trade Fee on Might 20, 2021, as properly as the other data submitted with the SEC. Buyers are cautioned not to position appreciable reliance on the ahead-looking statements contained in this press launch. You are inspired to study Advent’s filings with the SEC, accessible at www.sec.gov, for a dialogue of these and other challenges and uncertainties. The ahead-seeking statements in this push release talk only as of the date of this doc, and the Organization undertakes no obligation to update or revise any of these statements. Advent’s small business is issue to sizeable threats and uncertainties, which include people referenced higher than. Investors, opportunity traders, and other individuals ought to give careful thought to these challenges and uncertainties.

View resource version on businesswire.com: https://www.businesswire.com/information/house/20220406005641/en/

Contacts

Arrival Technologies Holdings, Inc.
Elisabeth Maragoula / Chris Kaskavelis
push@arrival.electrical power

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