TECO 2030 to Webcast Live at VirtualInvestorConferences.com April 13th
Lysaker, Norway, April 11th, 2023-TECO 2030(OTCQX: TECFFOSE: TECO), based in Norway, focused on fuel cell technology for maritime and heavy-duty applications, today announced that Tore Enger, Group CEO, will present live at the Technology Investor Forum, hosted by VirtualInvestorConferences.com, onApril 13th, 2023.
DATE: April 13th, 2023
TIME: 11:30 - 12:00 PM ET
REGISTER:https://tinyurl.com/2s3mtpb3
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.virtualinvestorconferences.com.
Some key financial highlights:
- Primary listed on Euronext Growth at Oslo Stock Exchange since October 2020. Secondary listings in Germany and on OTCQX in New York.
- Raised approx. MEUR 28,- in equity, approx. MEUR 8,- in convertible bond and been granted approx. MEUR 17.5,- from Innovation Norway, Horizon Europe, ENOVA among others.
- Outstanding quotes represent approx. EUR 500 million.
- Approx. 20% of shareholders represent German Retail Investors, TECO Group holds approx. 30%, SunHydrogen (strategic investor) holds approx. 8% and family offices hold approx. 12%.
- Expected EBITDA positive in 2024.
Some key operational highlights:
- First fuel cell stack has been produced and launched, AVL test lab office, Vancouver, December 2022. More units are under construction.
- Building Europe’s first Gigafactory for production of 400kW Fuel Cell Modules, production goals of 400MW in 2025 increasing to 1GW in 2028.
- Start of manual production mid-Q2 2023.
- Production equipment contracted with thyssenkrupp Automation Engineering GmbH. Commissioning expected H1 2024.
- Core team at Gigafactory already onboard built on previous experience from REC Solar’s activities in the same building from 2008-2012.
- Unique Fuel Cell IP and industrial development processes deployed together with AVL List GmbH.
- A Standard fuel cell module which can be utilized for heavy duty applications such as ships, ferry’s, construction sites, mining, data centers among others.
- Pilot container in operation during Q4 2023 for Implenia Norway, a subsidiary of Implenia AG.
- HyEkoTank project co-funded by Horizon Europe and Shell with MEUR 10,-. Fuel Cell retrofit installation on product tanker in 2024.
- Currently completing a feasibility study together with AVL for potentially industrializing a heavy-duty truck FC module which utilizes TECO 2030 100kW stacks.
Keywords
Contacts
Tore EngerCEO
Tel:+47 920 83 800tore.enger@teco2030.noImages
Links
About TECO 2030 ASA
TECO 2030 is building up 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 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 raises NOK 43 million and partners up with Advait Infratech Limited (Advait) in India16.4.2024 08:45:00 CEST | Press release
(Norway and India, April 16th 2024) TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) and Advait Infratech Limited (BOM: 543230) invests and partners up for fuel cell expansion in India and SAARC countries. Simultaneously, Advait injects approx. NOK 43 million (USD 4 million) through a private placement in TECO 2030 ASA at a price of NOK 2.00 per share.
TECO 2030 Receives AIP for Containerized Fuel Cell Power Generator8.4.2024 07:00:00 CEST | Press release
(Lysaker, Norway, April 8th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) has, in connection to the HyEkoTank project, received an Approval in Principe (AIP) from the Norwegian classification society DNV for a containerized fuel cell power generator (FCPG) for use onboard oceangoing applications.
TECO 2030 Receives AIP from DNV for Onboard Compressed Hydrogen Fuel Systems19.3.2024 07:00:00 CET | Press release
(Lysaker, Norway, March 19th 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) is proud to announce that it has received an additional Approval in Principle (AiP) from DNV regarding compressed hydrogen fuel systems. This milestone achievement marks a significant step forward in the development of sustainable propulsion solutions for the maritime industry.
TECO 2030 and Umoe Mandal receives preliminary approval for high-speed vessel design29.2.2024 07:00:00 CET | Press release
(Lysaker, Norway, February 29th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN: NO0010887516) and Umoe Mandal successfully receives “approval of preliminary design” from the Norwegian Maritime Authority for a multimegawatt hydrogen fuel cell powered high-speed vessel design. The preliminary approval is a result of the application submitted earlier this month and is the first stage of the design and approval process for constructing a fuel cell powered vessel.
TECO 2030 and Yokogawa Take Partnership to the Next Stage with Delivery of One TECO Fuel Cell Stack28.2.2024 07:00:00 CET | Press release
(Lysaker, Norway, February 28th 2024): TECO 2030 (OSE: TECO, ISIN: NO0010887516) announces that for the next step in its partnership with Yokogawa, the global industrial automation company, it will be delivering a TECO fuel cell stack of 100kW to the Yokogawa global headquarters in Tokyo before the end of Q1 2024.
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