3.5.2023 07:00:00 CEST | TECO 2030 ASA | Non-regulatory press releases
(Lysaker, Norway, May 3rd 2023 – TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) and Chart Industries, Inc. (NYSE: GTLS, “Chart”) have expanded their existing cooperation agreement on Chart’s Cryogenic Carbon Capture™ process technology (“CCC”), to include Chart’s offer of liquid cryogenic fuel storage and supply systems, as well as Howden’s hydrogen solutions.
Under the expanded agreement, Chart, Howden (a Chart Industries Group company) and TECO 2030 will combine their expertise to offer improved ship efficiencies and reductions in carbon emissions.
“We are excited to strengthen our relationship and broaden our solution into TECO 2030 to include Howden”, said Jill Evanko, CEO Chart Industries. “Carbon capture for ships will be one of several solutions deployed by the shipping industry to reach the greenhouse gas emissions goals set forth by the International Maritime Organization.”
Chart, including Howden, has solutions including leading compression technologies, storage and transport equipment, liquefaction technology, cryogenic carbon capture and end-use capabilities across the value chain for both gaseous and liquid hydrogen handling. This full solution offering combines over 160 years of hydrogen experience and is supported by a global network of product experts, regional presence and service capabilities in Australia and Southeast Asia which will provide on the ground support to Hydrexia.
“I am pleased to work closer with Chart on decarbonizing the shipping industry, an industry TECO knows well. We are fully aligned to reach our common goals. When speaking with customers, we see increased interest for both hydrogen fuel cells and carbon capture and storage solutions,” said Tore Enger, Group CEO of TECO 2030.
TECO 2030 is a Norwegian company that focuses on developing, manufacturing and supplying green hydrogen fuel cells for the maritime industry, as well as offering exhaust gas cleaning systems and carbon capture and storage solutions. TECO 2030’s main goal is to help the shipping industry transition to more sustainable practices by providing solutions that reduce emissions and improve energy efficiency.
Contacts
Tore Enger, CEO of TECO 2030 ASA, +4792083800, tore.enger@teco2030.no
About TECO 2030 ASA
TECO 2030 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. TECO 2030 is building up 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. 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.
The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO 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.
Attachments
Download announcement as PDF.pdf
