Why Is Advent Technologies (ADN) Stock Up 23% Today?

  • Advent Technologies (ADN) is rising on news from the European Union (EU).
  • That includes the ratification of its Green HiPo project.
  • This comes as the EU looks to develop hydrogen energy.
An image of a hydrogen fueling station against a blue sky representing ADN.

Source: DesignRage / Shutterstock.com

Advent Technologies (NASDAQ:ADN) stock is gaining on Monday as investors react to news of its Green HiPo project receiving official ratification from the European Commission of the European Union (EU).

This ratification is under the EU’s Important Projects of Common European Interest Hydrogen – Technology framework. What it means is Advent Technologies now has a wealth of other companies, organizations, and groups that it can partner with for its tech development.

All of this is part of the EU’s plan to prioritize the development of hydrogen energy. Specifically, the group is interested in making use of this technology in the mobility sector. This is part of its effort to switch to green energy.

Dr. Vasilis Gregoriou, chairman and CEO of Advent Technologies, said the following about the news.

“Green HiPo is a victory for clean energy advocates everywhere and represents an incredible step to transition Europe away from fossil fuels for its energy needs and move towards a clean energy future. The effects of climate change are clearly ubiquitous, and Advent will strive to implement Green HiPo quickly and effectively.”

Today’s EU news also has ADN stock seeing heavy trading. As of this writing, more than 42 million shares of the company’s stock have changed hands. That’s a massive surge compared to its daily average trading volume of about 6.3 million shares.

ADN stock is up 23.3% as of Monday afternoon.

Investors looking for more of the latest stock market news are in the right place!

InvestorPlace has them covered with our daily dives into the stock market! For Monday, that includes what’s happening with SoFi Technologies (NASDAQ:SOFI), crypto, and Tesla (NASDAQ:TSLA) shares today. You can find out all about these matters by checking out the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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