Teco 2030 ASA - Earnings Release 2020

TECO 2030 receives order

13.10.2020 07:28:09 CEST | TECO 2030 ASA | Non-regulatory press releases

(Lysaker, 13 October 2020): TECO 2030 (TECO-ME) has received an order for the

TECO Ballast Water Treatment System powered by BIO-SEA worth NOK 1 million from

Seabulk Tankers Inc, a subsidiary of SEACOR Holdings Inc (NYSE: CKH). The order

was placed with TECO 2030's US subsidiary TECO 2030 Inc.

"The sale of existing and proven technology to reduce emissions and pollution

from ships means TECO 2030 will have meaningful short-term revenue streams while

we work on our most ambitious project: the development of the TECO Marine Fuel

Cell, a hydrogen-based fuel cell specifically tailored for maritime use. The

order from Seabulk perfectly illustrates this combination of short-term sales

and long-term development," said Tore Enger, CEO of TECO 2030 ASA.

Ballasts are reservoirs used to stabilize ships according to their load. In

order to prevent invasive species and possible health issues, a ship's ballast

water needs to be treated before being discharged back to sea.

TECO Ballast Water Treatment System is developed and manufactured in France by

the company BIO-SEA, the ballast water treatment division of BIO-UV Group, a

European leader in UV water disinfection systems. The system is designed for

inactivation and elimination of organisms, in order to comply with the IMO D-2

standard and USCG regulations for discharge during ballasting operations. All

BIO-SEA systems will also comply with the new G8 rules which will be enforced on

28 October 2020.

CONTACTS

* Tore Enger, CEO, +4792083800, [email protected]

ABOUT TECO 2030 ASA

TECO 2030 (OSE: TECO-ME) aims to tackle one of the biggest environmental

challenges of our time: How to combine growing global shipping 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. [http://www.teco2030.no]

ATTACHMENTS

* Download announcement as PDF.pdf

[https://kommunikasjon.ntb.no/ir-files/17847477/128/148/Download%20announceme

nt%20as%20PDF.pdf]

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