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    TECO   NO0010887516

TECO 2030 ASA

(TECO)
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TECO 2030 Share capital increase registered

11/29/2022 | 07:19am EST

(Lysaker, Norway, November 29th 2022): Reference is made to the announcement by TECO 2030 ASA (OSE: TECO) on November 14th 2022 regarding the private placement.

The share capital increase pertaining to the issuance of the new shares has now been registered with the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 1,585,113.31 divided into 158,511,331 shares, each with a nominal value of NOK 0.01.

 

The share capital increase is the second and final tranche of the private placement announced in a stock exchange notice on November 14th 2022.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

  • Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
  • Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no

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 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.

Attachments

  • Download announcement as PDF.pdf

© NTB Norway, source NTB English Regulatory Releases

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Financials
Sales 2022 11,3 M 1,09 M 1,09 M
Net income 2022 -78,2 M -7,53 M -7,53 M
Net Debt 2022 97,5 M 9,39 M 9,39 M
P/E ratio 2022 -17,4x
Yield 2022 -
Capitalization 1 571 M 151 M 151 M
EV / Sales 2022 147x
EV / Sales 2023 22,4x
Nbr of Employees 20
Free-Float 54,3%
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Mean consensus OUTPERFORM
Number of Analysts 2
Last Close Price 9,40 NOK
Average target price 14,00 NOK
Spread / Average Target 48,9%
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Managers and Directors
Tore Enger Group Chief Executive Officer
Pňl Christian Johnsen Chief Financial Officer
Sigurd Gaarder Lange Chairman
Arild Eiken Chief Technology & Project Officer
Tor-Erik Hoftun Executive Vice President-Operations
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