TECO 2030 receives USD 5.9 mn funding from Innovation Norway to develop hydrogen fuel cells

Marine cleantech company TECO 2030 on Monday (25 October) said it has received NOK 50 million (USD 5.9 mn) from Innovation Norway for its development of hydrogen fuel cells leading to the creation of up to 500 new jobs in northern Norway by 2030 while contributing  to reducing greenhouse gas emissions.

“What TECO 2030 is doing is pioneering work that has the potential to change shipping, cut emissions and create new jobs in northern Norway. This is inspiring work, and I wish TECO 2030 the best of luck with their exciting project,” says the Norwegian Minister of Trade and Industry, Jan Christian Vestre.

“Our task is to contribute to business development throughout Norway, and we believe that TECO 2030’s solutions have great potential, both in the Norwegian market, and internationally,” says Håkon Haugli, Chief Executive Officer of Innovation Norway.

“We are absolutely thrilled that Innovation Norway has decided to support our work on developing hydrogen fuel cells. This clearly shows that the Norwegian government believes in our technology and our plans, and we are very happy and grateful for that,” says Tore Enger, Chief Executive Officer of TECO 2030 ASA.

Related: TECO 2030 receives AiP from DNV for marine hydrogen fuel cell system and modules
Related: TECO 2030 and Greenstat enter agreement to develop complete hydrogen value chain
Related: TECO 2030 to establish large-scale production of fuel cells for hydrogen-powered ships
Related: TECO 2030 inks second partnership with AVL to develop hydrogen fuel cells for maritime

Photo credit: TECO 2030
Published: 26 October, 2021