OSLO: The cleantech company TECO 2030 has today been admitted to trading on Merkur Market (ticker code: TECO-ME).

TECO 2030 is an engineering and equipment development company with focus on a greener and cleaner environment. Recently, the company raised NOK 80 million through a private placement.

“The financial community is now seeing great value-creating opportunities in cleantech, and I am extremely pleased with the interest from quality investors. The IPO will enable us to play our part in solving one of the greatest environmental puzzles of our time: How to drastically reduce emissions from an ever-increasing global shipping fleet,” said Tore Enger, CEO of TECO 2030 ASA, after the successful completion of the bookbuilding.

The shares in the offering were sold at a fixed priced of NOK 40 per share, corresponding to a pre-money equity value of NOK 480 million.

TECO 2030 ASA is an innovative engineering and equipment development company with focus on a greener and cleaner environment. The core objective is to develop high quality, cutting edge and cost-effective solutions to significantly reduce ecological impact of maritime pollution.

TECO 2030 is striving in a fast-paced environment to help clients operate within the maritime rules and regulations at present, and to meet new standards in the future. www.teco2030.no/about/