OSLO, NORWAY: TECO 2030, a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry, has announced that it has signed a Memorandum of Understanding (MoU) with an undisclosed renowned European Motor Company.

The MoU is signed to formally set out a pathway to collaborate with ongoing and future projects involving fuel cell technology.

According to the MoU, TECO 2030 is supposed to support the European Motor Company with FCM400 modules for their development of an integrated skid/containerized fuel cell system for their market segments. The agreement also includes utilizing the FCM400 module within their ongoing projects to ensure a solid partnership and collaboration platform in the years to come. The European Motor Company ultimately intends to then sell and promote their solution under their brand supported by TECO 2030 if the collaboration progresses successfully.

“I am humble to work with the European Motor Company on this exciting collaboration, together we will create a concept for the Company’s industry to become an environmental pioneer in the field while transitioning to a more sustainable alternative. There is no doubt that hydrogen will play a key role in decarbonizing the various industries, and fuel cells will be an efficient engine which hydrogen can run on,” said Tore Enger, Group CEO, TECO 2030.

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.

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