Advent Technologies (NASDAQ:ADN) stock is climbing higher on Thursday following news of an agreement with Hyundai (OTCMKTS:HYMTF).
This agreement between the two companies covers the development of the HMC-Advent Ion Pair Membrane Electrode Assembly (MEA). It also covers setting up commercial criteria for MEA supply and evaluating the use of this fuel cell technology in heavy-duty or stationary devices.
The signing of this agreement took place on March 22, 2023, and followed a successful investment of Advent Technologies’ MEA. Another part of the agreement covers the development of advanced cooling technologies for fuel cell stacks.
Dr. Emory De Castro, Chief Technology Officer of Advent Technologies, said the following about the agreement:
“The successful completion of the Technology Assessment with Hyundai is a testament to Advent’s technical excellence and industry-leading expertise in HT-PEM fuel cell technology. Our team’s unwavering commitment has been instrumental in meeting the complex requirements of Hyundai’s fuel cell projects.”
ADN Stock Movement Today
ADN stock is rising higher today as heavy trading follows the agreement news. This has some 5 million shares on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 323,000 shares.
ADN stock is up 32.2% during pre-market trading on Thursday.
Investors can read up on more of the latest stock market news below!
We’ve got all of the hottest stock market coverage traders need to know about on Thursday! Among that is what has shares of ZyVersa Therapeutics (NASDAQ:ZVSA) stock up, the biggest pre-market stock movers this morning, and more. You can read up on all of this at the links below!
More Thursday Stock Market News
- Why Is ZyVersa Therapeutics (ZVSA) Stock Up 35% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday
- Why Are Stocks Down?
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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.