Athens, Greece renewable parts manufacturer Advent Technologies Inc. has moved its headquarters to East Hartford after the state invested $1 million in the company.
Quasi-public state authority Connecticut Innovations provided the $1 million grant Advent through the Eli Whitney Fund to provide the company innovation financing and strategic assistance. The state’s investment comes on top of a $2.3 million funding round by private investors.
Advent develops and produces materials, components and systems for renewable energy including for technologies used in fuel cells, which is a major industry in Connecticut.
The company plans to maintain research and development operations in Greece but will establish R&D and manufacturing facilities in Connecticut as part of the state’s investment.
