TECO 2030 and AVL Sign Contract for Heavy Duty Truck Feasibility Study

LONG BEACH, CA / ACCESSWIRE / February 10, 2023 / TECO 2030 ASA (OSE:TECO)(OTCQX:TECFF) (ISIN:NO0010887516) and AVL List sign contract for feasibility study of developing and industrializing a Fuel Cell System for heavy-duty (HD) trucks. The feasibility study starts immediately and is expected to be completed in 2 months. After successful completion, TECO 2030 plans to industrialize this Heavy Duty Fuel Cell System and manufacture them at the Innovation Center and gigafactory in Narvik, Norway.

Foto: Accesswire

Picture text: From the left, Hans-Peter Klein, Director of Project Operations and Tore Enger, Group CEO at TECO 2030, Falko Berg, Manager PEM Systems and Alexander Schenk, Lead Engineer PEM Fuel Cell System Architecture at AVL List.

The decarbonization towards renewable energies is just getting started, and through the feasibility study and development of the HD fuel cell system TECO 2030 aims to have a solution for truck fleet owners who wish to uplift their existing and new fleet. The market for HD trucks is enormous and estimated to be millions of trucks across Europe and the US alone. TECO 2030 estimates that there needs to be deployed roughly one million new zero emission HD trucks in Europe and the US alone by 2030, in addition to the existing trucks which can be upfitted with a HD fuel cell System. The average lifetime of a truck is 13 years, which means there are also many existing trucks that can be fitted with new propulsion technologies. The HD fuel cell module can also be deployed in other heavy-duty on- and off-road applications as well, for example mining trucks, rail, buses.

"I am grateful for the support shown by AVL to drive innovation and assist us with developing technologies to reach our common goals of eliminating harmful emissions. We have already received huge interest from several stakeholders in the automotive space, and this will strengthen our zero emission technologies portfolio with a new space efficient HD fuel cell module, purposely made-to-fit Class 8- and 40-ton truck chassis," says Tore Enger, Group CEO, TECO 2030. "This also brings us closer to our partner AVL and contributes to increasing our leading presence in the fuel cell market for HD applications."