Stock Exchange Annoucements
30.9.2022 09:57:42 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, September 30th 2022): TECO 2030 (OSE: TECO) has been awarded as the winner of an innovation competition in the category of “Innovation Concepts” with the TECO 2030 Power Barge concept. The innovation competition ZeroEmission@Berth is hosted by The Maritime Cluster Northern Germany.
TECO 2030 is proud to announce it has been awarded as the winner in the innovation competition category “Innovation Concepts” with the energy efficient TECO 2030 Power Barge.
“TECO 2030 is honored to be awarded as the category winner for innovative concepts in the ZeroEmission@Berth innovation competition. We are humble to be selected as the winner in front of the big and leading industry players ABB OY and Hydrogen de France. With this award, TECO 2030 proves its ability to develop leading maritime zero emission fuel cells solutions,” says Tore Enger, Group CEO of TECO 2030.
The ZeroEmission@Berth innovation competition was initiated by nine German ports in search of innovative alternatives to existing shore power systems and energy supply approaches for ships at berth, which can also contribute to reducing emissions while ships are at sea. The seaports, represented by the respective port infrastructure companies, want to support the path of decarbonization of shipping with the innovation competition 'ZeroEmission@Berth' to enable ship operation at the berth without emissions.
"The diverse approaches from all parts of the world surprised even the jury members and prove that technology providers are serious about decarbonization in the maritime industry," says Peter Moller, MCN Branch Manager.
TECO 2030 was also awarded as the runner up in the category of “prototypes” for its TECO 2030 Fuel Cell Power Generator. TECO 2030 congratulates CMB Germany as the prototypes category winner. Overall, there were 3 categories, and TECO 2030 is proud to be nominated in 2 out of 3 categories.
The TECO 2030 Fuel Cell Power Generator is a complete hydrogen powered genset that can replace both on- and offshore fossil fueled generators for shore power solutions, strengthening of local grids, emergency generators for data centers and more.
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 maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 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. TECO 2030 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
16.9.2022 10:45:01 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, September 16th 2022): TECO 2030 (OSE: TECO) has launched a new product concept for its containerized fuel cells, the TECO 2030 Power Barge.
The solution comprises TECO 2030 fuel cell modules, batteries, power electronics, safety- and automation systems, hydrogen storage, and a refueling solution. The concept forms a scalable multimegawatt solution for electricity production for shore power from hydrogen.
The concept allows major benefits in terms of increased safety, reduced operational costs, reduced land area use, increased flexibility while also eliminating harmful emissions.
“The floating and mobile solution for shore power in locations with insufficient electrical grid and for ships at anchor will become a game changer in reducing and eliminating harmful emissions along our coastlines and in ports. Fuel Cells can be used for almost any application and infrastructure solutions where power generation is needed,” said Tore Enger, Group CEO of TECO 2030.
Overall, the concept is in line with the European Commission’s proposal launched September 14th, 2022, to make available over 5 billion euros for European transport infrastructure projects. The funding will support projects across all EU Member States along the Trans-European Transport Network (TEN-T) a network of rail, inland waterways, ports, and roads that connect Europe.
The TECO 2030 Fuel Cell Generator is a complete hydrogen powered genset that can replace both on- and offshore fossil fueled generators for shore power solutions, strengthening of local grids, emergency generators for data centers and more.
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 maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 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. TECO 2030 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
8.9.2022 07:30:01 CEST | TECO 2030 ASA | Non-regulatory press releases
(Hamburg, Germany, September 8th 2022) TECO 2030 (OSE: TECO) and thyssenkrupp Automation Engineering GmbH have signed a Memorandum of Understanding (MoU) to supply the total PEM fuel cell production line to TECO 2030’s Innovation Center in Narvik, Norway.
TECO 2030 is well under way with the planning of the production line equipment in Narvik and is pleased to have signed a MoU with an industry leading supplier thyssenkrupp Automation Engineering.
The MoU is the collaboration platform for the delivery and installation of the fuel cell production line in TECO 2030’s Innovation Center in Narvik. All the equipment will be delivered from thyssenkrupp Automation Engineering and is intended to complete the first full production line including stack assembly, module assembly and test equipment. This first production line will be the first of several production lines at the TECO 2030 Innovation Center in Narvik and will contribute to creating many new jobs in the northern Norway region.
“I believe this MoU with thyssenkrupp Automation Engineering represents the beginning of a long-term and strong partnership. We are looking forward to moving on with the fuel cell production project in Narvik and are excited to team up with renowned supplier like thyssenkrupp Automation Engineering,” says Tore Enger, Group CEO, TECO 2030.
“We are really looking forward to work with TECO 2030 in realizing zero emission shipping and heavy industry, and their goal of establishing a complete PEM fuel cell production line in Narvik,” Michael Menneking, CEO of thyssenkrupp Automation Engineering.
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 maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 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. TECO 2030 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
2.9.2022 07:30:00 CEST | TECO 2030 ASA | Half yearly financial reports and audit reports / limited reviews
(Lysaker, Norway, 2 September 2022): Norwegian Cleantech Company TECO 2030 ASA released results for H1 2022 today. The financial numbers are in accordance with the board and management’s expectations for the period and clearly underlines the development phase of which TECO 2030 currently is going through.
Most of the Group’s focus and effort is put on the development of the TECO 2030 PEM fuel cells for shipping and other heavy-duty applications. The first fuel cell stacks will be ready end of Q4 2022, while the first FCM400 (Fuel Cell Module 400 kW) will be built and begin testing during beginning of Q2 2023.
The first TECO 2030 fuel cell stacks for the AVL HyTruck fuel cell system will be ready during Q1 2023.
Further, the financial numbers are somewhat marked by expenses related to the ramp-up process of the factory in Narvik and the development team at Lysaker.
During the first half of 2022, TECO 2030 has seen a good progress in the right direction and continues to build footprint as one of the market leaders for maritime hydrogen fuel cells and for other heavy-duty applications. On an overall level, the development of the fuel cells is going according to schedule and is showing solid performance progress towards zero emission energy generation for heavy duty applications. The development of the production plant in Narvik is also moving forwards according to schedule with an expected start of production of fuel cells in Q4 2023.
Furthermore, please see the attached report for a full overview of the Group’s activities for H1 2022.
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
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
15.8.2022 07:30:00 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state
(Lysaker, Norway, August 15th, 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 Ocean Diamond, worth approximately NOK 910 000.
This is the 6th BWTS system CMI orders from TECO2030’s team in Miami, USA. This confirms TECO2030'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. TECO2030 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 TECO2030 will have meaningful revenue streams while we work on our most ambitious project, the development of the TECO2030 Marine Fuel Cell, a hydrogen-based PEM fuel cell specifically developed for maritime use," says Tore Enger, Group CEO of TECO 2030.
"This 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
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
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
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 5th 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
13.6.2022 13:00:00 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, June 13th 2022) TECO 2030 (OSE: TECO, OTCQX: TECFF) launches hydrogen powered tanker concept, Hy-Ekotank, together with our partners Ektank AB, Shell Shipping and Maritime, and DNV.
The hydrogen powered tanker will allow zero emission at berth, and up to 100% reduction of GHG emissions during voyage. This pioneering concept could become a first mover in this maritime shipping segment and contribute to the developments of achieving the ambitious climate targets committed by the European Union. As part of the European Green Deal, the EU has committed to reducing GHG emissions by 55% by 2030, and a binding target of achieving climate neutrality by 2050. Under the ‘Fit for 55 package’ the EU is currently developing its climate, energy and transport-related legislation to align current laws with the 2030 and 2050 ambitions.
It is therefore a great and ever-increasing need for technological innovation in zero-emission solutions developed for maritime transport, in particular for retrofitting of existing ships. Switching from traditional petroleum-based marine fuels to zero-carbon alternatives such as hydrogen can drastically shrink shipping’s climate impact.
“We are pleased to contribute with our high-quality and energy-efficient vessels towards the development of zero-emission technologies to meet environmental demands and regulations. We are delighted with how suitable our vessels fit into the concept of Hy-Ekotank which is aligned perfectly with our Company’s environmental strategy,” says Jörgen Johnsson, CEO Ektank AB.
“We’re working with our customers and across sectors to accelerate the transition to Net-Zero Emissions. We will contribute to a Net-Zero world, where society stops adding to the total amount of greenhouse gas emissions in the atmosphere. That’s why we’ve set a target to become a Net-Zero Emissions energy business by 2050. We’re partnering with customers, businesses, and others to address emissions. This pioneering fuel cell concept will reduce carbon emissions in the maritime sector. We’ll continue to drive innovation to provide the cleaner energy that our customers need.” says Stephen Brown, Technology Manager, Shell Shipping and Maritime.
“We are humble to work on Hy-Ekotank with Ektank, Shell and DNV, as we believe these partners are a perfect match. With a cargo owner, shipowner, classification society, and a fuel cell provider, we will show the world what hydrogen is capable of doing for the maritime shipping industry. Remember it is all about eliminating emissions, and increasing value-adding activities,” says Tore Enger, Group CEO, TECO 2030.
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 maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under TECO. TECO 2030 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
7.6.2022 13:01:00 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway / New York, USA, June 7th 2022) TECO 2030 (OTCQX: TECFF, OSE: TECO) has today been upgraded from the OTCQB Venture Market to OTCQX. Today marks the first day of trading on the OTCQX. Trading on OTCQX will enhance the visibility and accessibility of the Company's shares to U.S. investors.
The OTCQX Best Market provides value and convenience to U.S. investors, brokers and institutions seeking to trade TECFF. The OTCQX Best Market is OTC Markets Group's premier market for established, investor-focused U.S. and international companies. To be eligible, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.
“This marks another milestone on our voyage to zero emission hydrogen-based fuel cell energy generation, and increase our visibility in the United States,” says Tore Enger, Group CEO, TECO 2030 ASA. “We are pleased to have commenced trading on OTCQX and looking forward to welcoming new and more U.S based investors,” Enger adds.
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 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under TECO. TECO 2030 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
31.5.2022 07:00:00 CEST | TECO 2030 ASA | Half yearly financial reports and audit reports / limited reviews
(Lysaker, Norway, May 31st, 2022) TECO 2030 ASA (the "Company" or "TECO 2030") (OSE: TECO) releases its Q1 2022 Report. The report is attached to this Stock Exchange Notice and can be found on the Company’s website.
TECO2030 has reached a series of significant milestones and great progress with the fuel cell development through Q1 2022. Through Q1 we have made several important steps towards positioning ourselves as a leading provider of complete hydrogen fuel cell powertrain:
- The Company raised approx. MNOK 6.7 in new equity through Q1 in a private placement.
- The Company signed a MoU with Gen2 Energy AS to investigate supply of green hydrogen from Gen2 Energy, and fuel cells from TECO 2030 for relevant projects within the seaborn hydrogen value chains.
- The Company signed a strategic cooperation agreement with Al-Misehal Group in the Kingdom of Saudi Arabia (KSA). The strategic cooperation agreement aims to result in a Joint Venture between the parties with the purpose of conducting business within KSA. The Joint Venture will help the KSA achieving its Vision 2030 goals and reducing the Kingdom’s environmental emissions.
- On March 1st, 2022, the Norwegian Prime Minister Jonas Gahr Støre, visited the Innovation Center in Narvik. The Prime Minister was impressed with the facility and production plans, further he elaborated that the Company’s strategy was aligned with the Governments goal of reducing GHG emissions and creating a leading green technology environment in Norway.
- The Company sold 2 BWTS systems during Q1 2022.
- The Company signed a Letter of Intent with Narvik Hydrogen AS to cooperate on relevant projects with a goal of developing a complete hydrogen value chain.
Way forward:
2022 has started off as expected, the major development projects are well under way in 2022. The fuel cell segment is expected to reach a level where the first prototype systems are ready for delivery in first half of 2023. The same applies for the maritime carbon capture and storage system (CCS); however, the first prototypes are expected in later in 2023. For CCS technologies, we are working on a few case studies with various CCS technologies. Both segments will strengthen the Group's position as an upcoming leading provider of green technology to the marine and heavy-duty application industries.
Through 2022 we are expected to see major progress for the planning and installation of equipment at the Innovation Center in Narvik. The planning phase is already well under way, and we expect several milestones to be reached through the remaining months of 2022.
"I am humble and proud of the dedication shown among all TECO2030 employees to continue with the world-leading fuel cell development and the production facility in Narvik, in line with customer expectations, market trends and upcoming environmental regulations," said Tore Enger, Group CEO, TECO2030. He also adds "I expect the remaining part 2022 to be an exciting year for the company with several projects being lifted to reach new milestones and look forward to strengthening existing and establishing new partnerships."
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 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under TECO. TECO 2030 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
30.5.2022 07:00:00 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state
(Lysaker, Norway, 30 May 2022) TECO 2030 ASA (the "Company" or "TECO 2030") (OSE: TECO) has today secured 70.6 MNOK in a secured convertible loan from new and existing investors, including the Company's Saudi Arabian partner and its landlord in Narvik.
The convertible loan has a term of 3 years, an interest of 8 % p.a. and can be converted by the shareholders at a conversion rate of 5,0868 NOK. TECO 2030 is very pleased with the interest gained in the issuance of the convertible loan, and the trust provided by the existing shareholders at the annual general meeting held on May 20th 2022, where the shareholders approved an authorization to the Board of Directors to issue a convertible loan of up to 120 MNOK.
“We are excited to close the first tranche of the convertible bond for an amount of 70.6 MNOK, and will start the work towards raising the remaining authorized amount immediately,” says Tore Enger, Group CEO, TECO 2030 ASA. Enger also adds “The proceeds will be used towards the development of our fuel cells, and other general corporate purposes.”
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 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 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. TECO 2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under TECO. TECO 2030 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
20.5.2022 15:30:51 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state
The Annual General Meeting of TECO 2030 ASA was held today 20 May 2022. 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 is attached.
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
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
6.5.2022 09:00:00 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state
The Shareholders in TECO 2030 ASA (OSE: TECO) are hereby given notice of the Annual General Meeting (AGM) on 20 May 2022 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
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
29.4.2022 10:00:01 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, 29 April 2022) TECO 2030 ASA (OSE: TECO) releases ESG Report 2021. The company is fully engaged in executing its growth strategy of becoming a leading provider of maritime and heavy-duty fuel cells.
The 2021 ESG Report has been prepared with inspiration by and follows the pillars of World Economic Forum’s IBC common metrics. In addition, the report has been supplemented with other standards where relevant, such as the recommendations from Task Force on Climate-Related Financial Disclosures (TCFD), the GRI Standards and the Euronext guidance on ESG reporting.
TECO 2030 aims to be transparent about our operations and will therefore continue to improve and develop our annual reporting by expanding the scope of the report and including additional disclosures relevant to the developments of the company.
“Over the past year, we have continued to explore ways to make the shipping industry more sustainable. We believe the industry will play a vital part in reaching the goals of the Paris Agreement as an alternative mode of transport to road, and air freight, which are significantly more emissions intensive than maritime transport. Our ambition remains to enable the shipping industry to grow while at the same time meeting the emission reduction goals of the EU and the International Maritime Organization (IMO),” says Tore Enger, Group CEO, TECO 2030.
The ESG Report 2021 is attached to this notice and is available on The Company's website.
Contacts
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, Chief Executive Officer (CEO) of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
About TECO 2030 ASA
About TECO 2030:
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
TECO 2030 releases its ESG Report 2021
29.4.2022 10:00:01 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, 29 April 2022) TECO 2030 ASA (OSE: TECO) releases ESG Report 2021. The company is fully engaged in executing its growth strategy of becoming a leading provider of maritime and heavy-duty fuel cells.
The 2021 ESG Report has been prepared with inspiration by and follows the pillars of World Economic Forum’s IBC common metrics. In addition, the report has been supplemented with other standards where relevant, such as the recommendations from Task Force on Climate-Related Financial Disclosures (TCFD), the GRI Standards and the Euronext guidance on ESG reporting.
TECO 2030 aims to be transparent about our operations and will therefore continue to improve and develop our annual reporting by expanding the scope of the report and including additional disclosures relevant to the developments of the company.
“Over the past year, we have continued to explore ways to make the shipping industry more sustainable. We believe the industry will play a vital part in reaching the goals of the Paris Agreement as an alternative mode of transport to road, and air freight, which are significantly more emissions intensive than maritime transport. Our ambition remains to enable the shipping industry to grow while at the same time meeting the emission reduction goals of the EU and the International Maritime Organization (IMO),” says Tore Enger, Group CEO, TECO 2030.
The ESG Report 2021 is attached to this notice and is available on The Company's website.
Contacts
- Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
- Tore Enger, Chief Executive Officer (CEO) of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
About TECO 2030 ASA
About TECO 2030:
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
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