TECO 2030 ASA - Bankruptcy Petition Filed Against the Company

14 Nov 2024 23:00 CET

14.11.2024 23:00:39 CET | TECO 2030 ASA | Inside information

Lysaker, Norway - 14 November 2024: Reference is made to the stock exchange
notice issued earlier today regarding the bankruptcy petition against one of the
Company's subsidiaries, and the potential implications for the Company as a
result of a parent company guarantee in favor of a creditor to the subsidiary.
The Company has this evening received a bankruptcy petition following failure to
pay its obligations under the parent company guarantee. In light of this
situation, the board of directors will convene to evaluate the circumstances to
decide on the best course of action. The Company remains committed to engaging
with all relevant stakeholders to explore viable options moving forward. Further
updates will be provided as the situation evolves.

This information is considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Pål Christian Johnsen, CFO at TECO 2030 ASA, on 14
November 2024 at 23:00 CET.

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 a Norwegian based clean tech company developing zero-emission
hydrogen fuel cell 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 - http://www.teco2030.no.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/18324658/5271/Download%20announce
ment%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

632309_Download announcement as PDF.pdf