TECO 2030 ASA Oslo ,5 January 2023 . The Board of Directors ofTECO 2030 ASA (the "Company") has resolved to grant 783,318 share options in the Company (the "Options") to the principals of the Company's financial advisorThinkEquity LLC ("ThinkEquity "). The Options are granted without consideration as part of the remuneration from the Company toThinkEquity for its assistance in connection with theUSD 7 million private placement and issue ofUSD 3 million in convertible bond for a total placement ofUSD 10 million inNovember 2022 . Each Option will upon exercise give the right to acquire one share in the Company at an exercise price of each Option ofNOK 6.504 , which equals 120% of the closing share price of the Company on Euronext Growth Oslo, the day prior to the private placement being announced. The Options may be exercised at any time but expire and lapses if not exercised within five years from14 November 2022 . Contact:Pål Christian Johnsen , CFO, +47 41276747, pcj@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 theOslo Stock Exchange under the ticker TECO and inNew York , OTCQX under the ticker TECFF. TECO2030 is a spinoff fromTECO 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.
Click here for more information
© Oslo Bors ASA, source
