Lysaker, Norway — TECO 2030 ASA (OSE: TECO-ME) today announced a letter of intent with AVL List GmbH and Chemgas Shipping B.V. for the use of fuel cell technology as the main energy source for tugboats in the Blue Danube hydrogen project and similar projects.
“I am extremely excited to be partnering with Chemgas, a true leader with a long history within gas transportation over inland waters, and AVL, a global engineering powerhouse with a strong commitment to the fuel cell market. Together, we combine an intimate knowledge of the maritime industry with cutting-edge technology. The planned Merkur Market listing of TECO 2030 will provide us a platform from which we can work even more effectively to tackle one of the major environmental challenges of our time: How to reduce maritime emissions despite growing freight volumes,” said Tore Enger, CEO of TECO 2030 ASA.
The Blue Danube project is potentially Europe’s most ambitious hydrogen project. It involves massive production of hydrogen-based on wind power in Romania, to be transported by river barges to customers in Austria and Germany.
The concept calls for the production of 80,000 tons of green hydrogen annually.
The plan is for newly built Chemgas-owned push tugs to be driven by TECO 2030 fuel cells developed in partnership with AVL. Further details will be made available as the project progresses.
About TECO 2030
TECO 2030 is an innovative engineering and equipment development company aiming to significantly increase the use of renewable energy, specifically in the form of hydrogen fuel cells, and reduce the environmental footprint of the shipping industry. The company is planning a listing on Merkur Market. TECO 2030 – powering the maritime industry’s transition to renewable energy.
Based in Graz, Austria, AVL is the world’s largest independent company within the development, simulation, and testing of all types of powertrain systems for various vehicles as well as large engine applications for power plants, ships engines, trains, mining, and other heavy machinery. The company employs about 11.500 highly qualified staff and is represented in 26 countries.