Innovative company
TECO 2030

TECO 2030 is building up Europe’s first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2024 and 2025, targeting an output capacity of up to 200 MW of fuel cells in 2025, increasing to 1.6 GW in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994.

What we have:

  • Experienced core team
  • Lean production strategy
  • Industrial approach
  • Inhouse cell, stack and module production
  • Serial product developed with world leading partners ThyssenKrupp and AVL

On a mission towards zero emission

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.

Latest Press Releases

Stock Exchange Announcements

TECO 2030 finalizes conversion of NOK 82.6 million in convertible bonds

(Lysaker, Norway, June 19th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) Reference is made to the stock exchange notice published on April 12th, 2024.

The board of directors have today formally approved conversion of 84% of the bond loan into 41,310,511 shares at NOK 2 per share, increasing the company’s total equity by NOK 82.6 million. The conversion amount includes accumulated interests.

The new shares will be issued once the documentation has been registered with the Norwegian Register of Business Enterprises.

After issuance, the Company's new registered share capital will be NOK 2,038,917.89 divided into 203,891,789 shares, each with a nominal value of NOK 0.01.

Disclosure regulation

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

Contacts

About TECO 2030 ASA

TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2024 and 2025, targeting a production output capacity of up to 200 MW of fuel cells in 2025, increasing to gigawatt-production in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTC under the ticker TECFF. TECO 2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.

Attachments

(Lysaker, Norway, June 19th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO00108875...

TECO 2030, BLOM Maritime and Samskip receive ENOVA grant to retrofit Samskip LNG Vessel with fuel cells and hydrogen fuel

(Lysaker, Norway, June 14th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) together with BLOM Maritime and Samskip receive a grant for a pre-project aiming to retrofit Samskip’s vessel Kvitnos with TECO 2030 fuel cells and hydrogen fuel.

This innovative project aims to significantly reduce emissions from this LNG-fueled vessel, which currently operates on a weekly multipurpose service from Rotterdam, The Netherlands and along most of the Norwegian coastline to Hammerfest. By switching to zero-emission hydrogen technology, these partners join in their goal of reducing greenhouse gas emissions.

The goal of the project is to prepare for an investment decision to retrofit Kvitnos. The project also aims to facilitate long-term hydrogen fuel supply contracts due to the vessel’s fixed route.

Blom Maritime will support naval architects, piping engineers and structural engineers to produce the documentation needed to obtain preliminary approval of the fuel cell and hydrogen solution. Blom Maritime has its main expertise in engineering for retrofitting solutions, a great strength for this project.

Samskip is a multimodal logistics company, offering transport services by land, sea, rail and air around the world. The group has an annual turnover of EUR 900 million, and currently has offices in 24 countries and a network covering 35 countries. Samskip has already one hydrogen powered container vessel under construction in the SeaShuttle project. This new retrofit project with Kvitnos may become Samskip’s second hydrogen project.

Sustainability lies at the center of Samskip as a company. Samskip is committed to seize every opportunity to become Net-Zero by 2040. This project represents an opportunity to greatly reduce, or even eliminate, all emissions from one of our existing vessels.

Samskip Regional Director Norway and Sweden - Are Grathen: “With the delivery of our LNG propelled multipurpose vessels back in 2015, Samskip already offered one of the world’s most environmentally friendly cargo ships, which eliminated SOx emissions while drastically reducing NOx and CO2 emissions. With this grant from Enova, and in close cooperation with fuel cell provider TECO 2030.

We will continue our endeavor to enable full zero emission propulsion which in turn will further pave the way for our H2-propelled new-builds coming out next year and bring us closer to our net-zero targets for 2040.”  

Samskip Head of Fleet Management - Erik Hofmeester: “Samskip embraces every opportunity to reduce CO2 emissions either through using biofuels, CO2 capture-systems, shore-power, innovative newbuilding vessels , and now also into retro-fits solutions.

Using the power take in device (PTI) driving the propellor with green energy, allowing our existing vessels to sail and maneuver emission-free in the Norwegian Fjords and other coastal areas."

“This grant shows our capability to help our clients secure public funding for smaller pre-studies, this means they can focus on progress towards their ultimate goals of zero emission shipping. Our fuel cell technology is a great match for retrofitting the existing fleet to operate with environment friendly propulsion along the coast,” says Tore Enger, Group CEO, TECO 2030.

About Samskip

Samskip offers pan-European, environmentally responsible combined transport services via shortsea, road, rail and inland waterway routes. We are committed to cost-effectiveness, operational excellence and best practice in sustainable transport. High frequency services connect destinations across Europe, the Baltic States, Iceland and Faroes Island, both door-to-door (including collection) and quay-to-quay, transported using a wide range of owned vessels, containers, trucks and trailers.

Contacts

About TECO 2030 ASA

About TECO 2030:

TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2024 and 2025, targeting a production output capacity of up to 200 MW of fuel cells in 2025, increasing to gigawatt in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTC under the ticker TECFF. TECO 2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.

Attachments

(Lysaker, Norway, June 14th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) together with BLOM Maritime and Samskip receive a grant fo...

TECO 2030 ASA - Notice of Extraordinary General Meeting

(Lysaker, Norway, June 11th 2024): The Shareholders of TECO 2030 ASA (OSE: TECO) are hereby given notice of an Extraordinary General Meeting (EGM) on June 25th 2024 at 10:00 CET.

The notice of the Extraordinary General Meeting is enclosed and is also being sent to the company's shareholders.

A link to register attendance and votes has been published on the Company's website: www.teco2030.no/investors

Disclosure regulation

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

Contacts

About TECO 2030 ASA

TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM fuel cell stacks and modules in Narvik, Norway. The production capacity will be built up through 2024 and 2025, targeting a production output capacity of up to 200 MW of fuel cells in 2025, increasing to gigawatt in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTC under the ticker TECFF. TECO 2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.

Attachments

(Lysaker, Norway, June 11th 2024): The Shareholders of TECO 2030 ASA (OSE: TECO) are h...

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