TECO 2030 with consortium finalizes agreement for EUR 5 million in HyEkoTank project
The HyEkoTank project will retrofit an 18.600 DWT product tanker with a 2.4 MW fuel cell system by TECO 2030 and 4000 kg compressed hydrogen storage for demonstration in 2024.
“I am pleased with the tremendous efforts dedicated by all the consortium partners to this project; together we will show the world what fuel cells are capable of when retrofitting a product tanker for Ektank,” says Tore Enger, Group CEO, TECO 2030. “I am grateful to the EU who wants to assist us in realizing a retrofit fuel cell project for reducing and eliminating emissions along the European coastlines,” Enger adds.
"Shell is proud to be a part of this fuel cell project, which aims to demonstrate the viability of hydrogen as a zero-carbon fuel for the maritime sector. Our target is to be a net-zero emissions energy business by 2050 and to accelerate this transition we are partnering with customers and businesses from across the sectors. Shell will purchase the fuel cell system and provide the renewable hydrogen to power this pioneering project as we continue to drive innovation to deliver the cleaner energy solutions that our customers need," says Carl Henrickson, General Manager Technology, Innovation & Digitalisation, Shell Shipping and Maritime.
The HyEkoTank hydrogen powered tanker will demonstrate zero emission at berth and great reduction of GHG emissions during voyage. This pioneering project could become a first mover in this maritime shipping segment and contribute to achieving the ambitious climate targets set by the European Union. As part of the European Green Deal, the EU has committed to reducing GHG emissions by 55% by 2030, and a binding target of achieving climate neutrality by 2050. Under the 'Fit for 55 package' the EU is currently developing its climate, energy and transport-related legislation to align current laws with the 2030 and 2050 ambitions.
Tore EngerCEOTel:+47 920 83 firstname.lastname@example.org
About TECO 2030 ASA
Lysaker Torg 45
+47 672 00 300http://www.teco2030.no
About TECO 2030:
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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