Teco 2030 ASA — Board/Management Information 2021

Jan 4, 2021

TECO 2030 hires Vice President – Special Projects

Picture: Erling Hoftun – VP Special Projects

(Lysaker, 4 January2021): TECO2030 ASA (OSE-Ticker: TECO) is pleased to announce that Erling Hoftunwill join the group as Vice President – Special Projects.

"We are very excited to welcome Erling to the group as of January 1st, 2021. Erling has an ideal background from environmental technologies and construction industries and will play an important role in the development of TECO 2030's future," said Tore Enger, CEO of TECO 2030 ASA.

Mr.Hoftun has over 30 years' experience in the environmental technology industry, predominantly towards the cruise industry and was one of the key founders of Scanship (currently listed as VOW) back in 1993.

He is educated as an electronics engineer from Gothenburg Technical Institute.

Mr. Hoftun will work closely with TECO 2030's technology partner AVL on the next steps of the TECO 2030 fuel cell development.

"I am pleased and grateful to have been given this interesting role and I look very much forward to joining the skilled team of TECO 2030 and AVL. Together we will strongly contribute to decarbonize the maritime and offshore industries," said Erling Hoftun.

Contacts

Tore Enger, CEO, +4792083800, tore.enger@teco.no

About TECO 2030 ASA

TECO2030 (OSE-Ticker: TECO) aimsto tackle one of the biggest environmental challenges of ourtime: How to combine growing globalshipping volumes with reduced emissions. We believe the shipping industry can move to zero emissions by implementing new technologies, with hydrogen-based fuel cells as the ultimate solution. TECO 2030 – powering the maritime industry's transition to renewable energy.