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TECO 2030 AND Gen2 ENERGY SIGN GREEN HYDROGEN FUEL CELL MoU

TECO 2030 AND Gen2 ENERGY SIGN GREEN HYDROGEN FUEL CELL MoU

Wednesday, January 12, 2022 

Norwegian companies Teco 2030 and Gen2 Energy have signed a Memorandum of Understanding to cooperate on relevant projects where green hydrogen is needed for fuel cells.

The parties jointly commit to investigate supply of green hydrogen from Gen2 Energy for relevant projects where customers need hydrogen and power conversion through fuel cells. Gen2 Energy will involve Teco 2030 Marine Fuel Cells in Gen2 Energy’s maritime value chain, allowing hydrogen to be transported onboard vessels powered by hydrogen fuel cells.

The parties intend to work together for soft funding regarding maritime hydrogen applications and develop a complete hydrogen value chain, through the project 'Hydrogen Hub Nordland'. Together, the parties will work to develop and establish a functional and effective value chain for the hydrogen industry in northern Norway and enabling zero emission sailing along the Norwegian coastline.

The MoU is intended to support the establishment of a shared vision of an emissions-free ocean and heavy-duty industry space in the Nordic region. Jointly the parties will promote each other’s products and services towards the hydrogen community.

Tore Enger, CEO Teco 2030 Group, said: “We are excited to continue the development of creating a maritime hydrogen value chain. Gen2 Energy is an exciting industry leader aiming to supply the UK and mainland Europe with green hydrogen from Norway. Together we can create a world-class maritime and heavy-duty hydrogen infrastructure foundation to build our zero-emission future upon.”

Jonas Meyer, CEO Gen2 Energy, said: “We are pleased to sign this MoU with Teco 2030. The company has strong presence in the maritime sector and has taken an attractive early mover position towards fuel cells. Together, we aim to reduce emissions in the maritime- and heavy-duty sector by making green hydrogen accessible and easy to adapt for our customers.”

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