HAMBURG, GERMANY / ACCESSWIRE / September 8, 2022 / TECO 2030 (OSE:TECO)(OTCQX:TECFF) and thyssenkrupp Automation Engineering GmbH have signed a Memorandum of Understanding (MoU) to supply the total PEM fuel cell production line to TECO 2030's Innovation Center in Narvik, Norway.

TECO 2030 is well under way with the planning of the production line equipment in Narvik and is pleased to have signed a MoU with an industry leading supplier thyssenkrupp Automation Engineering.

The MoU is the collaboration platform for the delivery and installation of the fuel cell production line in TECO 2030's Innovation Center in Narvik. All the equipment will be delivered from thyssenkrupp Automation Engineering and is intended to complete the first full production line including stack assembly, module assembly and test equipment. This first production line will be the first of several production lines at the TECO 2030 Innovation Center in Narvik and will contribute to creating many new jobs in the northern Norway region.

"I believe this MoU with thyssenkrupp Automation Engineering represents the beginning of a long-term and strong partnership. We are looking forward to moving on with the fuel cell production project in Narvik and are excited to team up with renowned supplier like thyssenkrupp Automation Engineering," says Tore Enger, Group CEO, TECO 2030.

"We are really looking forward to work with TECO 2030 in realizing zero emission shipping and heavy industry, and their goal of establishing a complete PEM fuel cell production line in Narvik," Michael Menneking, CEO of thyssenkrupp Automation Engineering.

About TECO 2030 ASA

TECO 2030 accelerates the green transition in the maritime sector by delivering technology that helps ships to reduce their environmental and climate impacts. TECO 2030 is developing hydrogen fuel cells that enable ships and other heavy-duty applications to become emissions-free. The company is also developing other solutions that can help the maritime industry to reduce its emissions, such as exhaust gas cleaning and carbon capture systems for ships. TECO 2030 was founded in 2019 and is headquartered at Lysaker, Norway. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO. TECO 2030 has its roots in the TECO Maritime Group, a group that has provided technology and repair services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.

CONTACT:
TECO 2030:
Tore Enger, Group CEO of TECO 2030
+47 920 83 800
communications@teco2030.no

SOURCE: TECO 2030 ASA