Advent acquires FES and SerEnergy

Portrait Hans-Peter Fischer, © fischer group
Hans-Peter Fischer, © fischer group

The fischer group is transferring its fuel cell business to Advent Technologies Holdings, Inc. At the end of June 2021, the US FC company announced that, in addition to the assets of German fischer eco solutions GmbH (FES), it was also taking over those of Danish SerEnergy A/S. Advent will pay 15 million euros in cash and 37 million euros in ADN shares for this, and will henceforth be responsible for both the 17 FES employees and 55 SerEnergy employees in Aalborg, Denmark, as well as the 20 in Manila, Philippines.

Dr. Vasilis Gregoriou, CEO of Advent Technologies, said: “We are excited about the agreement signed between Advent and the Fischer family, which will integrate some of the world’s leading suppliers of high-temperature fuel cells into our company and contribute to our business momentum. […] Together with the already completed acquisition of UltraCell, this will make Advent a global leader in the production of fuel cell systems for the distributed and off-grid energy market.”

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Hans-Peter Fischer, managing partner of the fischer group, said: “Our fuel cell business has worked for 15 years to become a leader in off-grid markets. […] The Fischer family is very excited to partner with Advent in this fast growing market.” Morten Sørensen, Research Director at SerEnergy, added: “We consider the potential for synergies between the companies in the group to be very high. SerEnergy’s reformed 5 kW methanol fuel cells, our strong development team and existing customer base are the perfect complement to Advent’s proprietary technology and product line.”

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