11:49 AM EDT, 04/04/2024 (MT Newswires) -- Advent Technologies Holdings ( ADN ) said Thursday that its unit Advent Technologies ( ADN ) has signed an agreement with Siemens Energy for the joint development of a fuel cell module for maritime applications.

Financial details of the deal weren't provided.

The initial prototype testing for the High-Temperature Proton Exchange Membrane fuel cell module is expected at Siemens Energy's testing facility in Germany in 2025 and testing of the first fuel cell module is set to be completed in 2026, the company said.

Shares of Advent rose 7.4% in recent trading.

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