TECO 2030 signed contract with thyssenkrupp Automation Engineering GmbH for delivery of the first complete fuel cell stack production line at TECO 2030 Innovation Center in Narvik, Norway. The contract entails design, manufacturing and delivery of the equipment. Test-production of TECO 2030 fuel cell stacks will be completed at thyssenkrupp Automation Engineering's headquarter in Bremen, Germany.

The equipment is validated and completed in Bremen before shipment to Narvik, which takes place First Quarter 2024. It will then be installed and commissioned in Narvik during First Quarter and Second Quarter 2024. TECO 2030 Innovation Center will be the first Gigafactory in Europe for Proton Exchange Membrane (PEM) fuel cells and have an annual capacity of 120 MW production in 2024, increasing to 400 MW in 2025.