Teco 2030 ASA

07/07/2021 | Press release | Distributed by Public on 07/06/2021 23:00

TECO 2030 ASA receives order from OCEANBAT

7.7.2021 07:00:01 CEST | TECO 2030 ASA | Additional regulated information required to be disclosed under the laws of a member state (Lysaker, June 7th, 2021): TECO 2030 ASA (OSE: TECO) has received an order for 1 TECO 2030 Ballast Water Treatment System (BWTS) from OCEANBAT, worth approximately NOK 2.35 million. This ecosystem protection solution order was landed by TECO 2030's team in Miami, USA. This confirms TECO 2030's position in the market as a preferred BWTS partner and proves our capabilities to cooperate with clients around the world. Ballasts are reservoirs used to stabilize ships according to their load. In order to prevent invasive species from travelling from one region to another, and possible health issues, a ship's ballast water needs to be treated before being discharged back to sea. ?Our system complies with the new G8 rules which were put in force in October 2020. TECO 2030 Ballast Water Treatment System complies with International Maritime Organization and United States Coast Guard rules. 'The sale of existing and proven technology to reduce emissions and pollution from ships, means TECO 2030 will have meaningful revenue streams while we work on our most ambitious project, the development of the TECO Marine Fuel Cell, a hydrogen-based fuel cell specifically tailored for maritime use,' says Tore Enger, CEO of TECO 2030 ASA. 'The order from OCEANBAT perfectly illustrates this combination of short-term sales and long-term development. By 2024, all ships will need a ballast water treatment system,' Mr. Enger added. DISCLOSURE REGULATION This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. CONTACTS * Tore Enger, Chief Executive Officer (CEO) of TECO 2030 ASA, +4792083800, [email protected] ABOUT TECO 2030 ASA TECO 2030 (OSE: TECO) 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. 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. For more information, please visit our website: teco2030.no - http://teco2030.no - https://teco2030.no/. ATTACHMENTS Download announcement as PDF.pdf - https://kommunikasjon.ntb.no/ir-files/17847477/700/898/Download%20announcement%2 0as%20PDF.pdf PressRelease_Oceanbat_210706.pdf - https://kommunikasjon.ntb.no/ir-files/17847477/700/896/PressRelease_Oceanbat_210 706.pdf