On June 7, 2021, Advent Technologies Holdings, Inc., a Delaware corporation (the “Company”), announced the receipt by the Company’s wholly-owned subsidiary, UltraCell LLC (“UltraCell”), of a contract from the U.S.
Department of Defense to focus on potentially completing the MIL-STD certification of UltraCell’s 50 W Reformed Methanol Wearable Fuel Cell Power System, referred to as ‘Honey Badger’ to advance its potential for U.S. army integration. The contract
was signed with the U.S. Army DEVCOM Command, Control, Communications, Computers, Cyber, Intelligence, Surveillance and Reconnaissance (C5ISR) Center with funding through the Project Manager Integrated Visual Augmentation System (PM IVAS), which
works to enhance the situational awareness capabilities of Soldiers. The Honey Badger is optimized to operate on a soldier-worn plate carrier for “on the move” battery charging. Obtaining the MIL-STD certification for the Honey Badger and advancing
it for U.S. army integration is subject to risks and uncertainty, and may not be completed on the timeline the Company expects, or at all.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,”
“plan,” “could,” “may,” “will,” “could,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including the Company’s plans and expectations with respect to
the Honey Badger contract. Each forward-looking statement contained in this Current Report on Form 8-K is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement.
Applicable risks and uncertainties include, among others, the risks identified under the heading "Risk Factors" in our Annual Report on Form 10-K, and filed with the Securities and Exchange Commission, as well as the other information we file with
the SEC, including filings on Current Reports on Form 8-K. We caution investors not to place considerable reliance on the forward-looking statements contained in this Current Report on Form 8-K. You are encouraged to read our filings with the SEC,
available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this Current Report on Form 8-K speak only as of the date of this document, and we undertake no obligation to update or revise
any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.