TECO 2030 ASA 20.12.2022 07:00:00 CET |TECO 2030 ASA | Non-regulatory press releases (Lysaker,Norway ,December 20th 2022 ): TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) signs contract with thyssenkruppAutomation 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 inBremen, Germany . The equipment is validated and completed inBremen before shipment to Narvik, which takes place Q1 2024. It will then be installed and commissioned in Narvik during Q1 and Q2 2024. TECO 2030 Innovation Center will be the first Gigafactory inEurope for Proton Exchange Membrane (PEM) fuel cells and have an annual capacity of 120 MW production in 2024, increasing to 400 MW in 2025. "Yet another milestone reached and we are moving closer to zero emission energy generation, as we have signed a contract for the delivery of a complete fuel cell stack production line at our facility in Narvik. Over the next year, the production line will be set up inBremen, Germany and produce a limited amount of TECO 2030 PEM fuel cell stacks," saysTore Enger , Group CEO of TECO 2030 with a lot of enthusiasm. "This makes me feel proud and humble of all the strengths working together to realize zero emission energy generation for the shipping and heavy-duty industries," Enger adds. "We are pleased to support our new partner TECO 2030 with our knowledge and long-standing expertise in fuel cell assembly and testing equipment and are proud to be part of TECO 2030's vision to realize an emission-free future for the shipping and heavy duty industries," says Michael Menneking, CEO of thyssenkrupp Automation Engineering. CONTACTS *Tore Enger , CEO ofTECO 2030 ASA , +4792083800, tore.enger@teco2030.no ABOUTTECO 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 theOslo 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 - http://www.teco2030.no. ATTACHMENTS Download announcement as PDF.pdf - https://kommunikasjon.ntb.no/ir-files/17847477/1982/2651/Download%20announcement %20as%20PDF.pdf 221215 TECO 2030 signs contract with thyssenkrupp.pdf - https://kommunikasjon.ntb.no/ir-files/17847477/1982/2650/221215%20TECO%202030%20 signs%20contract%20with%20thyssenkrupp.pdf
Click here for more information
© Oslo Bors ASA, source
