Advent Technologies Holdings Inc (NASDAQ:ADN) shares are trading higher by 100% to $3.81 during Monday's session after the company announced that its Greek subsidiary's RHyno Project has received a €34.5 million grant from the EU Innovation Fund. The company says this grant supports Advent's advancements in clean energy technology.

Advent says the company is now set to finalize the grant agreement with the European Climate, Infrastructure and Environment Executive Agency. The company's leadership expressed gratitude for the recognition and support from the EU Innovation Fund.

Why This Matters: Advent Technologies' €34.5 million EU grant boosts financial stability and validates its hydrogen innovation, likely increasing investor confidence. This endorsement could position Advent for growth in the clean energy sector.

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According to data from Benzinga Pro, ADN has a 52-week high of $18.90 and a 52-week low of $1.71.