TECO 2030 signs fuel cell stack production equipment contract
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 dutyindustries," says Michael Menneking, CEO of thyssenkrupp Automation Engineering.
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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.
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Latest releases from TECO 2030 ASA
TECO 2030 signs an MOU with an undisclosed party for up to 50MW of hydrogen engines23.3.2023 07:00:00 CET | Press release
(Lysaker, Norway, March 23rd 2023) TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) has signed an MOU with an undisclosed party for cooperation on several fuel cell projects which in total could represent 50MW of fuel cell output. The projects represent marine fuel cells- and on-shore stationary fuel cell systems in megawatt scale. The MOU outlines a 3-year cooperation commitment to successfully execute the project objectives.
TECO 2030 unlocks NOK 50 million grant from Innovation Norway17.3.2023 07:05:00 CET | Press release
(Lysaker, Norway, March 17th 2023) TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) unlocks the NOK 50 million granted by Innovation Norway, the grant was given to TECO 2030 in October 2021. TECO 2030 had a prerequisite to release the funds, and this prerequisite has now been achieved.
BREAKING NEWS – TECO 2030 and AVL signs contract for Heavy Duty Truck feasibility study10.2.2023 07:00:00 CET | Press release
(Long Beach, California, February 10th 2022): TECO 2030 ASA (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) and AVL List sign contract for feasibility study of developing and industrializing a Fuel Cell System for heavy-duty (HD) trucks. The feasibility study starts immediately and is expected to be completed in 2 months. After successful completion, TECO 2030 plans to industrialize this Heavy Duty Fuel Cell System and manufacture them at the Innovation Center and gigafactory in Narvik, Norway.
TECO 2030, Shell and partners have started the EUR 5 million project HyEkoTank8.2.2023 07:00:00 CET | Press release
(Lysaker, Norway, February 8th 2023): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) is pleased to announce that the HyEkoTank project which has been awarded a EUR 5 million grant under the European funding scheme HORIZON EUROPE has started, together with Shell and the other consortium partners.
TECO 2030 completes first FCM400’s component procurement10.1.2023 07:00:00 CET | Press release
(Lysaker, Norway, January 10th, 2023): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) has completed selection of all major component suppliers and procured necessary parts for the first fuel cell modules (FCM400). This means the FCM400 development is close to completion and the first units are ready for assembly.
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