TECO 2030 and AVL Sign Contract for Heavy Duty Truck Feasibility Study - Seite 2

"I am really excited to see the TECO 2030 stacks perform in an additional HD application other than marine. With the carbon plate stack design, we laid the foundation for pretty much everything heavy duty and it is absolutely key to find these common denominators across industries," said Falko Berg, Manager and Technical Product Responsible PEM Systems at AVL List.

"This is the only viable way to make sure that our customers like TECO2030 succeed and are able to utilize their upcoming Narvik plant for additional needs besides their main business. Customers looking for off-the-shelf solutions will be very happy to see that a this world class facility can support their heavy-duty product in a timely manner," Berg adds.

Learn more about AVL's vision of the HyTruck project here: https://www.youtube.com/watch?v=gmB9nugBBCU

Contact:

Tore Enger, Group CEO, [phone], [e-mail]

About:

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.

TECO 2030 is a Norwegian based clean tech company developing zero-emission technology for the maritime and heavy industry. We are developing PEM hydrogen fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other heavy-duty applications to become emissions-free. The company is listed on Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York, OTCQX under the ticker TECFF. TECO2030 is a spinoff from TECO Maritime Group, a group that has provided technology and services to the global shipping industry since 1994. For more information, please visit www.teco2030.no.

About AVL:

AVL List GmbH ("AVL") with its headquarters in Graz, is one of the world's leading mobility technology companies for development, simulation and testing in the automotive industry, and in other sectors. Drawing on its pioneering spirit, the company provides concepts, solutions and methodologies for a greener, safer and better world of mobility.

AVL constantly expands its portfolio of high-end methodologies and technologies in the areas of vehicle development and testing. With a holistic approach - from ideation phase to serial production - the company covers vehicle architectures and platform solutions including the impact of new propulsion systems and energy carriers.

To achieve the vision of climate-neutral mobility, AVL drives innovative and affordable solutions for all applications - from traditional to hybrid to battery and fuel cell electric technologies.

AVL's passion is innovation. Together with 10,700 employees at more than 90 locations and with 45 Tech and Engineering Centers worldwide, AVL is supporting customers in their mobility ambitions. In 2021, the company generated a turnover of 1.6 billion Euros, of which 12% are invested in R&D activities to ensure continuous innovation.

SOURCE: TECO 2030 ASA

View source version on accesswire.com:
https://www.accesswire.com/738894/TECO-2030-and-AVL-Sign-Contract-for- ...


The TECO 2030 Stock at the time of publication of the news with a raise of +1,29 % to 0,982EUR on Lang & Schwarz stock exchange (09. Februar 2023, 22:57 Uhr).