Press Release: TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) has signed an MOU with an undisclosed party for cooperation on several fuel cell projects which in total could represent 50MW of fuel cell output. The projects represent marine fuel cells- and on-shore stationary fuel cell systems in megawatt scale. The MOU outlines a 3-year cooperation commitment to successfully execute the project objectives.
Fuel cells are hydrogen engines which generate electricity through a mechanism that doesn’t require combustion. This means they produce fewer pollutants than conventional, combustion-based power generation technologies. Fuel cells are also highly efficient, producing more power per unit of fuel. As a result, fuel cells offer an alternative to traditional power generation with significant health, reliability, and environmental benefits.
“I am thrilled to have signed this MOU with an undisclosed party. This shows the trust and confidence the party has in our fully scalable and modular fuel cell systems. I am looking forward to work with our client on these projects to cover their zero emission energy needs,” says Tore Enger, Group CEO, TECO 2030. “Both the marine and stationary applications for these projects are in megawatt size and will demonstrate the capabilities of the TECO 2030 fuel cell systems,” Enger concluded.
