TECO 2030 and Pherousa Green Shipping sign supply agreement to realize ammonia powered zero-emission deep-sea shipping - Seite 2

“We are proud to sign a firm supply agreement for six vessels with Pherousa Green Shipping, they are a young forward-thinking shipowner who wants to realize zero emissions deep-sea shipping. Pherousa is an exciting company, with a clear vision of proving that hydrogen and ammonia can be utilized to fuel tomorrow’s deep-sea vessels,” said enthusiastically Tore Enger, Group CEO, TECO 2030.

Contact TECO 2030:

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

About TECO 2030:

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 400 MW of fuel cells in 2025, increasing to 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.

Contact Pherousa Green Shipping AS:

Hans Bredrup, Chairman, [phone] / [phone], [e-mail]

About Pherousa Green Shipping AS:

Pherousa Green Shipping AS, headquartered in Oslo and established in 2023, is in the process of initiating an order for up to six modern, zero-emission Ultramax dry bulk carriers. These vessels are designed by Deltamarin in Finland and will be crewed and managed by OSM Thome Ship Management. The initial ship design is derived from an existing Deltamarin Ultramax model, but it has been modified to include the ammonia cracking technology developed by Pherousa Green Technologies AS (PGT). This technology employs ammonia as a hydrogen carrier, enabling true zero-emission propulsion.

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/c3117cb4-0aec-463a ...