28.2.2024 07:00:01 CET | TECO 2030 ASA | Non-regulatory press releases

(Lysaker, Norway, February 28th 2024): TECO 2030 (OSE: TECO, ISIN: NO0010887516)
announces that for the next step in its partnership with Yokogawa, the global
industrial automation company, it will be delivering a TECO fuel cell stack of
100kW to the Yokogawa global headquarters in Tokyo before the end of Q1 2024.

Yokogawa has decades of experience in developing core measurement, control, and
information technologies for the energy, chemical, and other process industries.
Yokogawa intends to perform research and development with the fuel cell stack to
enhance their product and software portfolio to better optimize the efficiency,
technical specifications, and lifetime of the TECO 2030 fuel cell stacks and
system.

"I am pleased that our strategic partnership with Yokogawa is evolving. We are
sailing ahead with a partner who shares our commitment to reducing and
eliminating the environmental impacts from the heavy-duty industry," says Tore
Enger, Group CEO TECO 2030. "I am very excited about what the future holds for
our relationship," Enger concludes.

CONTACTS

 * Tore Enger, CEO, +47 920 83 800, tore.enger@teco2030.no 

ABOUT TECO 2030 ASA

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 2024 and 2025, targeting an output capacity of up to 200 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. TECO 2030 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 - http://www.teco2030.no.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/2939/4129/Download%20announcement
%20as%20PDF.pdf

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