TECO 2030 ASA

TECO 2030 launches newly developed hybrid/closed loop Future Funnel

21.4.2021 06:15:00 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state

(Lysaker, April 21st 2021): TECO 2030 ASA (OSE-Ticker: TECO) is proud to announce that the TECO 2030 Future Funnel has been further developed and now offers hybrid and closed loop alongside the already existing open loop.

As the development is complete, TECO 2030 is proud to launch market-ready hybrid and closed-loop systems with the main purpose of reducing SOx, NOx, and ready for further improvement of PM and BC emission reductions and ultimately integrated CO2 capture technology.

The closed loop system is primarily used for vessels operating in areas where discharges overboard are prohibited, and the alkalinity of the seawater is low. The exhaust gases are washed on board, and substances are collected in a separate tank on board, which is emptied into ports for appropriate further treatment.

The hybrid system can be used as either an open or closed loop, depending on the requirements and rules of the geographical location. This system gives the shipowner a more flexible control of emissions and environmental impact.

“We are proud to expand our emissions reduction technologies to further improve our portfolio to meet our customers' needs. TECO 2030 Future Funnel is now ready for all geographical regulations globally, says Tore Enger, CEO of TECO 2030 ASA.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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About TECO 2030 ASA

TECO 2030 (OSE: TECO) tackles one of the biggest environmental challenges of our time: How to combine growing global shipping volumes with reduced emissions. The shipping industry can move to zero emissions by implementing new technologies, with hydrogen-based fuel cells as the ultimate solution. TECO 2030 – powering the maritime industry's transition to renewable energy.

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