TECO 2030, Shell and Partners To Receive EUR 5 Million in Horizon Europe Support for 2.4 MW TECO 2030 PEM Fuel Cell System for Tanker Retrofit Project
TECO 2030 has secured an invitation for EUR 5 million funding from HORIZON EUROPE for the development of the HyEkoTank hydrogen-powered tanker project. The project aims to retrofit a product tanker with a 2.4 MW fuel cell system and 4000 kg compressed hydrogen storage by 2024, facilitating zero emissions at berth and a 60% reduction in GHG emissions during voyages. Key partners include Shell, Ektank, and Neste. The project aligns with the EU's climate targets, aiming for 55% GHG reduction by 2030 and climate neutrality by 2050.
- Secured EUR 5 million funding for HyEkoTank project.
- Project aims to achieve zero emissions and reduce GHG emissions by 60%.
- Strong partnerships with Shell and other key players in the industry.
- Alignment with EU's climate targets enhances project credibility.
- None.
LYSAKER, NORWAY / ACCESSWIRE / November 3, 2022 / TECO 2030 (OSE:TECO, OTCQX:TECFF) with partners have been invited for HORIZON EUROPE funding of EUR 5 million to realise the hydrogen powered tanker concept, HyEkoTank. All beneficiaries have now signed the GA Declaration of Honour, stating that they are committed to participate in the project. The consortium expects to finalise the Grant Agreement process within the end of this year, and plans project startup by February 1st, 2023.
In addition to TECO 2030, Shell International Trading and Shipping Company Limited and Shell International Exploration and Production BV, the HyEkoTank project involves partners Ektank AB, Blom Maritime AS, TECO Solutions AS, Umoe Advanced Composites AS (UAC), FKAB Marine Design, Neste Oyj, and UiT - The Arctic University of Norway.
The HyEkoTank project will retrofit a 18.600 DWT product tanker with a 2.4 MW fuel cell system by TECO 2030 and 4000 kg compressed hydrogen storage for demonstration in 2024.
The HyEkoTank hydrogen powered tanker will demonstrate zero emission at berth and
"We are proud to have been invited for funding from HORIZON EUROPE as we move forward with the integration of TECO 2030 Fuel Cells onboard ships. The hydrogen tanker concept will be a state-of-the-art vessel retrofitted to reduce up to
"Shell is proud to be a part of this fuel cell project, which aims to demonstrate the viability of hydrogen as a zero-carbon fuel for the maritime sector. Our target is to be a net-zero emissions energy business by 2050 and to accelerate this transition we are partnering with customers and businesses from across the sectors. Shell will purchase the fuel cell system and provide the renewable hydrogen to power this pioneering project as we continue to drive innovation to deliver the cleaner energy solutions that our customers need." says Carl Henrickson, General Manager Technology, Innovation & Digitalisation, Shell Shipping and Maritime.
"We are pleased to contribute with our high-quality and energy-efficient vessels towards the development of zero-emission technologies to meet environmental demands and regulations. We are delighted with how suitable our vessels fit into the concept of HyEkoTank which is aligned perfectly with our Company's environmental strategy," says Jörgen Johnsson, CEO Ektank AB.
"Supporting the shipping industry towards carbon neutrality requires partnerships, new innovations and utilizing all available solutions. As maritime is one of the largest sources of transport emissions, there is an urgent need for lower-emission solutions that are available already today. Neste is excited to be part of this project which enables significant reduction in GHG emissions. This is again another step towards decarbonizing the industry and well aligned with our sustainability targets to enable low carbon shipping of renewable fuels," says Lauri Helin, Vice President, Logistics & Operations Oil Products, Neste.
"BLOM Maritime is proud to be part of this exciting project. We are a strong believer in the maritime industries change to more eco-friendly power systems and are proud to be part of the HyEkoTank project funded by HORIZON EUROPE. This is a milestone for greener shipping and fully aligned with the IMO/UN goals and BLOM Maritime's company vision" says Marius Blom, Group CEO, BLOM Maritime.
"TECO Solutions is excited to take part in the HyEkoTank project, with funding from HORIZON EUROPE. Our aim is to be at forefront of the decarbonizing the maritime industry and see this milestone project as a fantastic opportunity in this regard. We aspire to utilize our vast experience from maritime installations to be a valuable contributor into this important project," says Eivind Hermansen, CEO, TECO Solutions.
Contact:
TECO 2030: Tore Enger, Group CEO, +4792083800, tore.enger@teco2030.no
About TECO 2030:
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.
SOURCE: TECO 2030 ASA
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https://www.accesswire.com/723639/TECO-2030-Shell-and-Partners-To-Receive-EUR-5-Million-in-Horizon-Europe-Support-for-24-MW-TECO-2030-PEM-Fuel-Cell-System-for-Tanker-Retrofit-Project
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