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    TECO   NO0010887516

TECO 2030 ASA

(TECO)
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TECO 2030 : and Implenia have been awarded public funding for developing zero-emission construction site solutions

07/06/2021 | 01:01am EDT
6.7.2021 07:00:01 CEST | TECO 2030 ASA | Additional regulated information
required to be disclosed under the laws of a member state

(Lysaker, Norway, 6 July 2021): Cleantech company TECO 2030 and infrastructure
contractor Implenia Norway have been granted funding by the Norwegian state
enterprise Enova to jointly develop and pilot hydrogen-powered solutions that
will eliminate emissions at construction sites.

The support granted by Enova amounts to NOK 15.6 million and will be provided
over a period of 2.5 years, from September 2021 until the end of December 2023.

"We are very grateful for the generous support from Enova and we are excited
about our cooperation with Implenia on developing hydrogen fuel cells that will
power the equipment used at construction sites," says Tore Enger, CEO of TECO
2030 ASA.

"The construction of roads, tunnels, bridges and other transport infrastructure
has until now largely relied on diesel as an energy source. By using
hydrogen-based fuel cells instead of diesel generators, construction sites can
eliminate their emissions and become more climate-friendly," Enger says.

Hydrogen-powered construction solutions

TECO 2030 and Implenia Norway announced -
https://kommunikasjon.ntb.no/pressemelding/teco-2030-to-cooperate-with-implenia-
norge-as-on-eliminating-emissions-at-construction-sites?publisherId=17847477&rel
easeId=17905699 in April that they will jointly develop and pilot
hydrogen-powered construction solutions. The cooperation covers a period of five
years and includes three initial steps, including project financing, product
development and commercialisation & operation.

As part of the project, TECO 2030 will develop a fuel cell generator with a
power production capacity of 0.8 MW, which can replace diesel generators on
construction sites. The delivery of the fuel cell generator is planned for
January 2023. Implenia Norway will support TECO 2030 with its construction
experience and knowledge and will pilot the fuel cell generator on its
construction sites.

Hydrogen fuel cells are the engines of tomorrow and convert hydrogen into
electricity while emitting nothing but water vapour and warm air.

By switching to hydrogen fuel cells, applications that currently get their
energy from diesel engines or diesel generators can use climate-friendly
hydrogen instead of fossil fuels and become completely emissions-free.
Furthermore, hydrogen fuel cells do not require a grid connection and will be
just as mobile and flexible as a traditional diesel generator.

Demonstrate new and innovative technology

The Norwegian government announced at the beginning of the year a new strategy -
https://www.regjeringen.no/no/aktuelt/ny-handlingsplan-anleggsplasser-i-transpor
tsektoren-skal-bli-fossilfrie/id2827986/ to increase its efforts to cut
emissions from construction sites within the transport sector and has introduced
the ambitious target that these should all be fossil-free by 2025. The strategy
entails a plan to engage in pilot projects.

"This project will bring forward and demonstrate new and innovative technology
that contributes to the realisation of emission-free building and construction
sites," says Tonje Foss, Vice President of Corporate Strategies at Enova.

Sustainability is not only one of Implenia's corporate values. The group has
also defined twelve sustainability goals to achieve until 2025, and fully
supports the Norwegian government's goal for fossil-free construction sites by
2025. The generous funding by Enova will enable Implenia and TECO 2030 to
achieve this goal.

Audun Aaland, CEO of Implenia Norway, is looking forward to the cooperation with
TECO 2030: "We believe that hydrogen will play a significant role as an energy
carrier at future construction sites, and we are proud to have the opportunity
to drive this sustainable innovation together with TECO 2030."

Implenia Norway is a subsidiary of Implenia, a multinational construction and
real estate provider with more than 8,500 employees that is headquartered in
Switzerland. In Norway, Implenia is currently involved in a number of large
infrastructure projects, including the planning and building of parts of a new
metro line in Oslo known as "Fornebubanen".

DISCLOSURE REGULATION

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

CONTACTS

 * Tore Enger, Chief Executive Officer (CEO) of TECO 2030 ASA, +4792083800,
   tore.enger@teco.no 

ABOUT TECO 2030 ASA

TECO 2030 (OSE: TECO) tackles one of the biggest environmental challenges of our
time: How can we combine continued economic growth with reduced emissions? By
developing hydrogen fuel cells, TECO 2030 enables ships and other heavy-duty
applications to become emissions-free. The company also delivers other solutions
to help the maritime industry reduce its environmental footprints, such as
exhaust gas cleaning and carbon capture systems for ships. For more information,
please visit our website: teco2030.no - https://teco2030.no/.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/694/893/Download%20announcement%2
0as%20PDF.pdf

PressRelease_TECO2030_Implenia_210706.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/694/892/PressRelease_TECO2030_Imp
lenia_210706.pdf

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

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Financials
Sales 2021 243 M 28,1 M 28,1 M
Net income 2021 35,0 M 4,04 M 4,04 M
Net Debt 2021 - - -
P/E ratio 2021 19,4x
Yield 2021 -
Capitalization 716 M 82,3 M 82,7 M
Capi. / Sales 2021 2,95x
Capi. / Sales 2022 1,39x
Nbr of Employees 21
Free-Float 32,7%
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Tore Enger Co-Chairman & Chief Executive Officer
Pňl Christian Johnsen Chief Financial Officer
Sigurd Gaarder Lange Co-Chairman
Arild Eiken Chief Technology & Project Officer
Birgit Marie Liodden Director
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