Advent Technologies, the Boston-based fuel cell and hydrogen tech firm, has entered into securities purchase agreements with investors to purchase 10m shares of common stock in a registered direct offering at a per share purchase price of $0.20, according to a news release.
The transaction, generating gross proceeds of $2m, is expected to close before the end of the year. Joseph Gunnar & Co. is acting as the exclusive placement agent for the offering.
The US Department of Energy has awarded $118m in funding for 17 projects to accelerate the production of sustainable biofuels for transportation and manufacturing needs.
Sumitomo’s investment in Global Thermostat includes a commercial partnership to develop projects in the US, Europe, Middle East and Asia markets.
Progressus Clean Technologies and Alkaline Fuel Cell Power have entered into a JV for a H2-blending pilot project for natural gas utilities.
A US-based developer of salt cavern projects for hydrogen storage has retained a financial advisor to sell its first project and is informally seeking an equity investor.
A New Jersey-based start-up is seeking to commercialize an electrocatalytic technology that transforms CO2 into a monomer for the plastics industry.
International biotechnology firm Insilico Medicine is applying the algorithms that produce novel drugs to synthesizing more sustainable petrochemical fuels and materials.
