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
(Lysaker, Norway, September 3rd, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has today registered the share capital increase in reference to the stock exchange notice on August 30th, 2024.
The share capital increase pertaining to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 2 206 215,92 divided into 220,621,592 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
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
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, September 3rd, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has today registered the share capital inc...
(Lysaker, Norway, August 30th, 2024) – With reference to the agreement with the Indian publicly listed company Advait Infratech Limited ("Advait") (BOM: 543230) previously announced on April 16 2024, TECO 2030 ASA (OSE: TECO) is pleased to announce that it has formally closed another tranche of the agreed investment of USD 4 million. This second investment amounts to approx. NOK 10.5 million (USD 1 million) at a price of NOK 2.00 per share by issuing 5,283,500 new shares.
The next investment of USD 2 million will follow shortly.
Upon completion of registration of the private placement in this tranche, the total number of shares in TECO 2030 ASA will increase to 220,621,592 each with a nominal value of NOK 0.01.
The new shares will be listed on Euronext Growth on Oslo Stock Exchange as soon as the share capital increase has been registered with the Norwegian Register of Business Enterprises.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
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, August 30th, 2024) – With reference to the agreement with the Indian...
(Lysaker, Norway, August 30th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) and the HyEkoTank consortium are proud to announce that Samskip has been formally approved by the EU as partner in the HyEkoTank project. The consortium also announces that the vessel to be retrofitted with their zero-emission technology will be Samskip’s MPP vessel Kvitnos.
Samskip Kvitnos, built in 2015, is a cargo ship which operates in a fixed route on a weekly multipurpose service from Rotterdam, along the Norwegian west coast, all the way north to Hammerfest.
The HyEkoTank project is the world’s largest ongoing fuel cell retrofit project, aiming to demonstrate zero-emission fuel cell and hydrogen technology contributing to decarbonization of the worlds existing fleet of more than 100,000 ships. By introducing zero-emission hydrogen technology, the project partners have set a clear goal of reducing greenhouse gas emissions.
Samskip itself already has strict decarbonization targets and goals set and hopes that this collaborative effort will be a great addition towards staying on schedule with their targets.
Samskip, as a container ship operator, is facing increasingly stricter requirements to reduce greenhouse gas emissions through regulations such as FuelEU Maritime and EU Emissions Trading System (EU ETS). Container ships are also required to operate with zero emissions at major EU ports from 2030, and will be subject to zero emissions requirements when sailing in Norwegian world heritage fjords.
Fuel cells and hydrogen provides the most energy-efficient and cost-efficient fuel solution for the Kvitnos vessel, because Kvitnos consumes much more energy than can be charged by shore-power, and hydrogen is the most energy-efficient and least expensive zero-emission fuel. With support from HyEkoTank, this vessel will be retrofitted in 2025 with fuel cells from TECO 2030 and hydrogen storage from Umoe Advanced Composites. This retrofit aims to make Kvitnos compliant to FuelEU Maritime and EU ETS regulations for the remainder of its expected lifetime.
“I am excited to announce the HyEkoTank partnership with Samskip. Almost all of the 2-3000 new built ships each year are built with conventional fossil technologies, and the average ship lifetime is 25-30 years. To achieve the maritime sector GHG reduction targets retrofitting zero-emission technology on the existing fleet is essential. That is why the EkoTank project is so important”, says HyEkoTank’s project coordinator Leif-Gunnar Hanssen.
“I am thrilled to partner with Samskip in their mission to achieve net zero by 2040. The synergy between our fuel cell technology and Samskip’s commitment to operational sustainability creates the ideal foundation for future-proofing their existing fleet for long-term success in the maritime industry,” says TECO 2030’s Group CEO Tore Enger.
Samskip highly appreciates to collaborate with TECO 2030 and all the other professionals of the HyEkoTank project, with the support of a grant from the European Union's Horizon program.
Using the power take in device (PTI) driving the propellor with green energy, allows existing vessels to sail and maneuver emission-free in European coastal areas and Norwegian Fjords’ says Erik Hofmeester, Head of Vessel Management for Samskip.
The HyEkoTank project has received funding from the European Union's Horizon Europe Innovation Actions programme under grant agreement No. 101096981. The project partners are TECO 2030, BLOM Maritime, TECO Solutions, Shell International Trading and Shipping Company, Shell International Exploration and Production, Samskip, Nav-Tech, Umoe Advanced Composites, FKAB Marine Design, Tarbit Shipping and project coordinator UiT The Arctic University of Norway.
Contacts
- Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
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, August 30th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) and the HyEkoTank consortium are proud to announce that ...