2.8.2022 07:30:01 CEST | TECO 2030 ASA | Non-regulatory press releases

(Lysaker, Norway, August 2nd 2022) TECO2030 (OSE: TECO) and AVL List GmbH have signed a collaboration agreement where TECO2030s fuel cell stacks will be deployed in AVL’s DemoTruck which is powered by the HyTruck Fuel Cell System.

The DemoTruck project is currently constructing a prototype class 8 / 40-ton truck with outstanding power density capabilities which provides a perfect form factor to enable integration of over 300kW net fuel cell systems into standard truck chassis. The DemoTruck prototype will be on the road in mid-2023 powered by fuel cell stacks delivered by TECO2030.

HyTruck (in support of AVL’s DemoTruck) is a project funded by the Austrian government and has the objective to develop, build, calibrate and validate a heavy-duty fuel cell system including its key technologies to meet the requirements of commercial vehicles regarding power, efficiency, reliability and lifetime. The project consortium consists of several competent partners such as AVL, DB Schenker, Hydrogen Europe, EI-JKU, EMT, EVN AG, FEN, FPT, HyCentA, PBX, Rosenbauer, Technical University Vienna, VKM, and WIVA. The project will run for 36 months with the fuel cell system concept available by end of 2019. AVL will be performing the coordination of the project as well as technical concept development of the fuel cell powertrain, including cooling, operating strategy, packaging and fuel cell system development.

Learn more about AVL’s HyTruck fuel cell system here: https://www.youtube.com/watch?v=RcIQ2ROgaOE

“We are excited to team up with AVL again in a new project where our fuel cell stacks will be validated in a class leading heavy duty truck application as early as mid-2023! This opportunity positions TECO2030s Gigafactory in Narvik as strong contender for the upcoming upfitter market for trucks way before the promised market entry of the OEM’s by 2030” said Tore Enger, Group CEO at TECO 2030. “This new venture will ensure additional revenue streams for our fuel cell stack production,” Enger adds.

“I am really excited to see the TECO2030 stacks perform in an additional heavy-duty application other than marine. With the carbon plate stack design, we laid the foundation for pretty much everything heavy duty and it is absolutely key to find these common denominators across industries” said Falko Berg, Manager PEM Systems at AVL List Gmbh. “This is the only viable way to make sure that our customers like TECO2030 succeed and are able to utilize their upcoming Narvik plant for additional needs besides their main business. Customers looking for off-the-shelf solutions will be very happy to see that a this world class facility can support their heavy-duty product in a timely manner,” Berg adds.

Learn more about AVL’s vision of the HyTruck project here: https://youtu.be/q3CONL0xv7o

Contacts

• Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no

About TECO 2030 ASA

TECO 2030 accelerates the green transition in the heavy-duty application industry by delivering technology that helps reduce their environmental and climate impacts. TECO 2030 is developing hydrogen fuel cells that enable ships and other heavy- duty application become emissions-free. TECO2030 has its roots in the TECO Maritime Group, a group in supplying products along with repair and maintenance services to the international maritime industry since 1994.

TECO 2030 is also developing other solutions that can help the maritime industry to reduce its emissions, such as exhaust gas cleaning and carbon capture systems for ships, to provide clients with a full portfolio of onboard decarbonization technologies. TECO 2030 has a zero emission vision and trusts its industry experience as a key to achieving a successful transition to a sustainable future for the heavy-duty application industry. For more information, please visit www.teco2030.no.

Attachments

• Download announcement as PDF.pdf

4.7.2022 07:00:01 CEST | TECO 2030 ASA | Non-regulatory press releases

(Lysaker, Norway, July 4th 2022) TECO 2030 ASA (OSE: TECO) leads a consortium with partners Umoe Mandal and BLOM Maritime to develop a hydrogen powered high-speed vessel with zero emissions. The consortium will receive up to 5 million NOK in funding support. The vessel will combine the class-leading fuel cell systems from TECO 2030 and energy-efficient catamaran design with SES technology from Umoe Mandal. The vessel will have the capacity to transport 200-300 passengers at speeds above 35 knots while sailing over a longer distance.

In the project “High-speed vessel of the future”, the county municipalities of Finnmark, Nordland, Trøndelag and Vestland aims to develop groundbreaking technology in several areas. One of the technology segments is to develop, build and demonstrate the world's first hydrogen-powered high-speed vessel. The consortium of TECO 2030, BLOM Maritime and UMOE Mandal is one of three qualified consortiums.

“We are humble and proud to be qualified for developing the high-speed vessel of the future, powered by hydrogen and TECO 2030 Fuel Cells. This proves our ability to lead advanced vessel developments and design either it is retrofit or newbuilds through our maritime expertise,” says Tore Enger, Group CEO, TECO 2030.

"Umoe Mandal has over 30 years of experience in delivering  light-weight and energy-efficient vessels, based on the SES (Surface Effect Ship) Technology. This includes the world’s fastest combat ship, the Skjold class corvette, and the Wavecraft CTV series for the offshore wind market. We are excited for this opportunity to develop and approve a hydrogen-powered zero-emission version of our vessels” says Tom Harald Svennevig, CEO, Umoe Mandal.

Way forward

The contract contains two phases, where the consortia in 2022 and 2023 will first develop and get their solutions approved. In the next phase, one supplier will be chosen to build and demonstrate the newly developed vessel. The vessel will be in pilot operation from 2025.

“By introducing hydrogen as an energy carrier for high-speed vessels, we can create the uncompromising high-speed vessel that can replace all current high-speed vessels in Norway,” says the county mayor in Nordland, Tomas Norvoll.

Contacts

• Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no

About TECO 2030 ASA

TECO2030 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO2030 is developing hydrogen fuel cells that enable ships and other heavy-duty applications to become emissions-free. The company is also developing other solutions that can help the maritime industry to reduce its emissions, such as exhaust gas cleaning and carbon capture systems for ships. TECO2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO. TECO2030 has its roots in the TECO Maritime Group, a group that has provided technology and repair services to the global shipping industry since 1994. For more information, please visit www.teco2030.no

Attachments

• Download announcement as PDF.pdf

27.6.2022 10:31:42 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state

(Lysaker, Norway, June 27th, 2022): TECO 2030 ASA (OSE: TECO) has received an order for 1 TECO 2030 Ballast Water Treatment System (BWTS) powered by BIO-SEA from CMI Ship Management, for the ship M/V Quest, worth approximately NOK 800 000.

This is the 5^th BWTS system CMI orders from TECO 2030’s team in Miami, USA. This confirms TECO 2030's position in the market as a preferred BWTS partner and proves our capabilities to cooperate with clients around the world.

Ballasts are reservoirs used to stabilize ships according to their load. In order to prevent invasive species from travelling from one region to another, and possible health issues, a ship's ballast water needs to be treated before being discharged back to sea. Our system complies with the new G8 rules which were put in force in October 2020. TECO 2030 Ballast Water Treatment System complies with International Maritime Organization and United States Coast Guard rules.

"The sale of existing and proven technology to reduce emissions and pollution from ships, means TECO 2030 will have meaningful revenue streams while we work on our most ambitious project, the development of the TECO 2030 Marine Fuel Cell, a hydrogen-based fuel cell specifically developed for maritime use," says Tore Enger, Group CEO of TECO 2030.

"The order from CMI Ship Management, perfectly illustrates this combination of short-term sales and long-term development. By 2024, all ships will need a ballast water treatment system," Mr. Enger added.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

• Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no

About TECO 2030 ASA

TECO2030 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO2030 is developing hydrogen fuel cells that enable ships and other heavy-duty applications to become emissions-free. The company is also developing other solutions that can help the maritime industry to reduce its emissions, such as exhaust gas cleaning and carbon capture systems for ships. TECO2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO. TECO2030 has its roots in the TECO Maritime Group, a group that has provided technology and repair services to the global shipping industry since 1994. For more information, please visit www.teco2030.no

Attachments

• Download announcement as PDF.pdf