- Home
- Equities - Stocks - Shares
- Company Press Releases
- TECO 2030 Signs Fuel Cell Stack Production Equipment Contract
TECO 2030 signs fuel cell stack production equipment contract
20 Dec 2022 07:00 CET
Issuer
TECO 2030 ASA
20.12.2022 07:00:00 CET | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, December 20th 2022): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN:
NO0010887516) signs contract with thyssenkrupp Automation Engineering GmbH for
delivery of the first complete fuel cell stack production line at TECO 2030
Innovation Center in Narvik, Norway.
The contract entails design, manufacturing and delivery of the equipment.
Test-production of TECO 2030 fuel cell stacks will be completed at thyssenkrupp
Automation Engineering's headquarter in Bremen, Germany. The equipment is
validated and completed in Bremen before shipment to Narvik, which takes place
Q1 2024. It will then be installed and commissioned in Narvik during Q1 and Q2
2024.
TECO 2030 Innovation Center will be the first Gigafactory in Europe for Proton
Exchange Membrane (PEM) fuel cells and have an annual capacity of 120 MW
production in 2024, increasing to 400 MW in 2025.
"Yet another milestone reached and we are moving closer to zero emission energy
generation, as we have signed a contract for the delivery of a complete fuel
cell stack production line at our facility in Narvik. Over the next year, the
production line will be set up in Bremen, Germany and produce a limited amount
of TECO 2030 PEM fuel cell stacks," says Tore Enger, Group CEO of TECO 2030 with
a lot of enthusiasm. "This makes me feel proud and humble of all the strengths
working together to realize zero emission energy generation for the shipping and
heavy-duty industries," Enger adds.
"We are pleased to support our new partner TECO 2030 with our knowledge and
long-standing expertise in fuel cell assembly and testing equipment and are
proud to be part of TECO 2030's vision to realize an emission-free future for
the shipping and heavy duty industries," says Michael Menneking, CEO of
thyssenkrupp Automation Engineering.
CONTACTS
* Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
ABOUT TECO 2030 ASA
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 the 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 -
http://www.teco2030.no.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/1982/2651/Download%20announcement
%20as%20PDF.pdf
221215 TECO 2030 signs contract with thyssenkrupp.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/1982/2650/221215%20TECO%202030%20
signs%20contract%20with%20thyssenkrupp.pdf
More information:
Access the news on Oslo Bors NewsWeb site
578668_en_Download announcement as PDF.pdf
578668_en_221215 TECO 2030 signs contract with thyssenkrupp.pdf
Source
TECO 2030 ASA
Provider
Oslo Børs Newspoint
Company Name
TECO 2030
ISIN
NO0010887516
Symbol
TECO
Market
Euronext Growth