(Lysaker,Norway ,March 2nd 2023 ): Reference is made to the announcement byTECO 2030 ASA (OSE: TECO) onFebruary 12th 2023 regarding the offer to bondholders to an extraordinary conversion of bonds. Bonds totalingNOK 19,550,000 have been converted into 3,843,280 shares. Outstanding amount in the convertible bond after the transaction totalsNOK 82,293,827 . The share capital increase pertaining to the issuance of the new shares has now been registered with theNorwegian Register ofBusiness Enterprises . The Company's new registered share capital isNOK 1,625,812.78 divided into 162,581,278 shares, each with a nominal value ofNOK 0.01 . Contact:Tore Enger , Group CEO, +47 920 83 800, tore.enger@teco2030.no About: TECO 2030 is building upEurope'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 onOslo 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.
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