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Reports Q2 revenue $805,000 vs $1.112M last year. “We are on the road to becoming a much leaner and focused company with the goal to substantially reduce our cash burn. We aim to soon rely mostly on customer revenue and R&D grants for our operations rather than on fundraising. Towards that goal, we are focusing our activities on our Livermore and Patras offices that are leading the US Army, Airbus, and R&D product development efforts. Technology-wise, we have made great progress with the Advent MEA and expect to announce strong performance improvements to the market by year-end. I am thankful to our employees in the USA and Greece for performing excellent work during these hard financial times and meeting all customer milestones and requirements,” said Dr. Vasilis Gregoriou, Chairman and CEO of Advent Technologies.

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