(Lysaker,
“When the new CO2 capture integration that we are collaborating with
The agreement between the Norwegian company TECO 2030 and the American manufacturer
This innovative technology, which utilizes
When it has been offloaded from the ship, the CO2 can then either be permanently stored in geological formations underground or be put to beneficial use in CO2-consuming industries, such as the agricultural, industrial, energy, or food and beverage sectors.
Will help ships comply with environmental legislation
When fully developed, the carbon capture solution will become available as a key element in the TECO 2030 Future Funnel, an exhaust gas cleaning system for ships developed by TECO 2030.
“At TECO 2030, our ambition is to help ships become more environmentally friendly as well as enable them to comply with emerging climate legislation,” says Aakre. “We believe carbon capture for ships will become one of several measures needed for the shipping industry to reach global decarbonisation goals.”
Carbon capture and storage (CCS) is the process of capturing emitted CO2 and transporting it to a storage site to prevent it from entering the atmosphere as a greenhouse gas. One of the challenges with carbon capture onboard ships is that the storing of CO2 is space consuming, and that space onboard ships is rather limited. Each tonne of fossil fuel consumed by ships leads to approximately three tonnes of CO2 emissions.
“We are excited to bring our carbon capture process expertise to the maritime industry with a partner like TECO 2030 that is dedicated to solving the emissions challenges facing ship-owners today,” says
Green transition within the shipping industry
Ship-owners across the world will therefore have to do something to make their vessels more climate-friendly, and TECO 2030 will help them with that.
In addition to exhaust gas cleaning systems for ships, TECO 2030 is also developing hydrogen fuel cells for the maritime industry. These will enable ships to switch from fossil fuels to green hydrogen – which is hydrogen produced by renewable energy – and thereby become completely emissions-free.
About
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Contacts
Stian Aakre , CEO, +4790708440, stian.aakre@teco2030.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.
Attachments
- Download announcement as PDF.pdf
- 20210614 TECO 2030 to cooperate with
Chart Industries on developing marine carbon capture and storage solutions.pdf
© NTB Norway, source