(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, 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): 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 16th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has today registered the share capital increase in reference to the stock exchange notice on June 25th 2024.
The share capital increase pertaining to the issuance of new shares towards TECO Group AS, following the share lending agreement and the resolution made in the EGM on 25 June 2024 has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 2 153 380,92 divided into 215,338,092 shares, each with a nominal value of NOK 0.01.
Further to that, TECO 2030 ASA has today extended the loan agreement with its largest shareholder, TECO Group AS. Under the agreement, TECO Group lends TECO 2030 ASA up to 20 million shares in TECO 2030.
TECO 2030 may, when appropriate, sell the shares to new investors as a flexible way of securing financing for its business plan. TECO 2030 will settle the share loan through the return of any unsold shares and a private placement of new shares against TECO Group no later than December 31st, 2024. TECO 2030 may repay the loan in whole or in part at any time prior to this date.
TECO 2030 ASA will compensate TECO Group AS equal to the cost TECO Group will have to subscribe for the number of shares sold under this agreement.
TECO Group is a closely associated party to each of TECO 2030's Chairman Sigurd Gaarder Lange, CEO Tore Enger and CSO Tor-Erik Hoftun. See attached form for further details.
Considering that the alternative to sell shares borrowed from TECO Group could be to resolve one or more private placements, this will in practice imply deviations from the shareholders' preferential right to new shares under the Norwegian Public Limited Liability Companies Act. The board of directors will carefully consider this prior to any sale of shares and only complete sales in which the conclusion is that (i) it will be in the best interest of the Company and its shareholders to deviate from the shareholders' preferential right to the new shares by selling shares to investors as proposed, and (ii) this is in compliance with the requirements in the Norwegian Public Limited Companies Act and the prohibition against giving anyone an unreasonable advantage at the Company's or the shareholders' expense set out in the Norwegian Securities Trading Act, Euronext Growth Oslo Rule Book - Part II section 3.1(2), and the Oslo Stock Exchange's Guidelines on the rules of equal treatment.
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 12th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has today registered the share capital increase in reference to the stock exchange notice on July 26th 2024. This registration makes the first tranche in the private placement towards Advait Infratech Limited complete. The second and final investment tranche of USD 3 million (approx. NOK 33 million) will follow shortly.
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 2,093,917.89 divided into 209,391,789 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
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, CEO, +47 920 83 800, 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
The Annual General Meeting of TECO 2030 ASA was held today July 31st, 2024. All resolutions were adopted in accordance with the Board's proposal and the Nomination Committee's recommendation.
The signed protocol from the Annual General Meeting and Annual Report 2023 is attached to this stock exchange notice.
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
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, July 26th 2024) – With reference to the agreement with the Indian publicly listed company Advait Infratech Limited ("Advait") (BOM: 543230) previously announced on April 16, TECO 2030 ASA (OSE: TECO) is pleased to announce that it has formally closed the first tranche of the agreed investment of USD 4 million (approx. NOK 44 million). This first investment amounts to NOK 11 million at a price of NOK 2.00 per share by issuing 5,500,000 new shares.
The second and final investment of USD 3 million (approx. NOK 33 million) will follow shortly.
Upon completion of registration of the private placement in the first tranche, the total number of shares in TECO 2030 ASA will increase to 209,391,789 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 2023 and early 2024, targeting an output capacity of 120 MW of fuel cells in 2024, 400 MW in 2025 and 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. For more information, please visit www.teco2030.no.
Attachments
(Lysaker, Norway, July 17th 2024) The shareholders in TECO 2030 ASA (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) are hereby given notice of the Annual General Meeting (AGM) on July 31st 2024 at 10:00 CET.
Please find attached notice of the AGM.
The notice of the Annual General Meeting is enclosed and is also being sent to the company's shareholders incl. necessary PIN-codes etc.
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
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 2023 and early 2024, targeting an output capacity of 120 MW of fuel cells in 2024, 400 MW in 2025 and 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. For more information, please visit www.teco2030.no.
Attachments
(Lysaker, Norway, July 17th 2024) TECO 2030 ASA (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) releases its Annual Report 2023 and ESG Report 2023.
The reports can be found on the company’s website or attached to this notice.
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, July 1st 2024): Reference is made to the announcement by TECO 2030 ASA (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) on June 19th 2024 regarding the conversion of convertible bonds.
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 2,038,917.89 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
- 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
TECO 2030 ASA (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) held an Extraordinary General Meeting on June 25th 2024. All resolutions were adopted in accordance with Board's proposal.
The minutes of the Extraordinary General Meeting are attached, as well as the voting protocol.
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, 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
- 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, 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
- Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
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 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
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, CEO, +47 920 83 800, 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 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
(Norway and Austria, May 29th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has today successfully reached stable and maximum power output of zero emission hydrogen-electric power with its disruptive fuel cell system.
Since November 2023, the system has been connected to AVL’s testbed facility in Graz. It has undergone minor modifications and adjustments to achieve its maximum power output. The TECO 2030 fuel cell system has successfully achieved a full power output by using hydrogen as fuel.
This positions the system as the most powerful marine fuel cell system globally, which is purposely designed for heavy-duty industrial applications. The unique design is based on our 30 years of maritime experience and AVL’s two decades of R&D experiences in the field of hydrogen and fuel cells.
TECO 2030’s fuel cell technology features a modular system with installed power capacity of 400kW’s. This includes exceptional energy efficiency, an inherent safety concept, optimal weight and size dimensions, advanced component design, extended lifespan, and rapid dynamic load response.
“This milestone is the biggest one so far in the history of TECO 2030 Group, we now have a fully functional fuel cell which is almost ready for market deployment and powering our client’s applications with zero emission hydrogen-electric power. This is a moment we have all been waiting for since we started our development four years ago. A huge achievement by the entire team at TECO 2030 and AVL,” said Tore Enger, Group CEO, TECO 2030. “All in all, the team is overwhelmed how well the system operates and how the design has beat our expected performances and proves our position as a leading provider of heavy-duty fuel cell applications,” Enger concludes.
Fuel cell technology can offer the potential of achieving zero emissions in a large variety of applications. For example, in transportation, including cars, buses, trucks, ships, and planes providing efficient and clean energy. In stationary power generation, fuel cells offer reliable power for residential, commercial, and industrial facilities, as well as for backup power and remote locations.
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 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.