TECO 2030 ASA Stock Price, News & Analysis

TECO 2030 has signed a Memorandum of Understanding with thyssenkrupp Automation Engineering to establish a complete PEM fuel cell production line at its Innovation Center in Narvik, Norway. This collaboration aims to deliver and install the production line, which will include stack assembly, module assembly, and testing equipment. The project is expected to create numerous job opportunities in northern Norway and marks the beginning of a long-term partnership between the two companies in promoting zero-emission shipping.

TECO2030 has partnered with AVL List GmbH to integrate its fuel cell stacks into AVL's DemoTruck project, aimed at developing a heavy-duty fuel cell system for commercial vehicles. This prototype, featuring over 300kW net fuel cell systems, is set to hit the road by mid-2023. The project is backed by the Austrian government and will run for 36 months. TECO2030's CEO Tore Enger expressed excitement about the collaboration, which promises new revenue streams and strengthens their position in the truck upfitter market.

TECO 2030 ASA has partnered with Umoe Mandal and BLOM Maritime to develop a hydrogen-powered high-speed vessel with zero emissions, supported by up to 5 million NOK in funding. This initiative aims to create the world's first high-speed vessel using hydrogen fuel cell technology, boasting a capacity of 200-300 passengers and speeds exceeding 35 knots. The project involves two phases, with pilot operation anticipated by 2025. This collaboration highlights TECO 2030's technological leadership and its commitment to sustainable maritime solutions.

The Port of Narvik in Norway is collaborating with eight partners to develop a fast, emissions-free hydrogen workboat, aiming for completion in 2023. The vessel will utilize hydrogen fuel cells from TECO 2030 and significantly reduce diesel consumption and CO₂ emissions. As part of this initiative, a hydrogen filling station will be established to support both maritime and road transport. The project is a critical step toward the green transition in the maritime industry, aligning with Norway's goal to cut domestic shipping emissions by 50% by 2030.

TECO 2030 ASA (OTCQB:TECFF) has announced a significant supply frame agreement with Chemgas Shipping BV to deliver fuel cell modules, potentially totaling 200 megawatts in capacity. These fuel cells will be installed on 120 transport barges and 40-60 tugboats for emissions-free operations along the Danube River. The anticipated revenue from this agreement could reach 150 million Euros over the next 3 to 8 years. The first delivery is projected for spring 2023, as part of the ambitious Green Hydrogen @ Blue Danube project aimed at creating a green hydrogen value chain.

TECO 2030 has formed a strategic partnership with Everfuel, a key European hydrogen supplier, to deliver green hydrogen for their fuel cells and generators, aimed at reducing emissions in hard-to-decarbonise sectors such as construction. This collaboration will enhance decentralized power supplies, enabling sites without grid access to switch from diesel to zero-emission hydrogen options. The partnership also seeks to capture a significant market for hydrogen, promoting the use of fuel cells in heavy-duty applications.

TECO 2030 ASA (OTCQB: TECFF), a Norwegian company focused on hydrogen-based fuel cells for maritime applications, announced that Group CEO Tore Enger will present live at VirtualInvestorConferences.com on August 5, 2021, at 12 PM (NY Time). The event allows investors to interact in real-time and will be archived for those unable to attend live. Recent highlights include receiving NOK 15.6 million funding from Enova for developing hydrogen solutions and moving into a new gigafactory in Narvik, Norway. More details can be found at www.virtualinvestorconferences.com.