Teco 2030 ASA — M&A Activity 2021

Feb 4, 2021

TECO 2030 signs Strategic Cooperation Agreement with the Dutch Thecla Bodewes Shipyards NV for Zero Emission vessels.

TECO 2030 signs Strategic Cooperation Agreement with the Dutch Thecla Bodewes Shipyards NV for Zero Emission vessels.

4.2.2021 14:56:55 CET | TECO 2030 ASA | Additional regulated information

required to be disclosed under the laws of a member state

(Lysaker, 4 February 2021): TECO 2030 ASA (OSE-Ticker: TECO) is pleased to

announce a partnership with Thecla Bodewes Shipyards in Holland to develop zero

emission hydrogen-based fuel cell propulsion on all types of river going

vessels, such as push tugs, dredgers, passenger and cargo ships and low-profile

coasters.

TECO 2030 ASA has signed a Strategic Cooperation Agreement with the Dutch Thecla

Bodewes Shipyard to develop expertise and competence for the construction of low

and zero emission vessels. This is the platform for potential joint projects to

develop efficient and safe hydrogen fuel cell river vessels, including

manufacturing, installation, testing and common marketing.

For nearly 200 years, Thecla Bodewes Shipyards (tbshipyards.com

[http://tbshipyards.com]) have been tailoring ships to its owner's needs. The

yard now sees a strong push for low and zero emission solutions and is committed

to delivering this.

"The partnership with Thecla Bodewes enables TECO 2030 to commercialize the TECO

2030 Marine Fuel Cell on newbuilds for inland waterway transport. This is just

the beginning of TECO 2030 becoming a major provider of marine fuel cell systems

" says Tore Enger, CEO of TECO 2030 ASA.

"The strategic cooperation with TECO 2030 will enable us to build world-class

zero emission vessels, realizing the sustainability goals of our shipyards" says

Thecla Bodewes, CEO and owner of Thecla Bodewes Shipyards.

DISCLAIMER

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

CONTACTS

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

ABOUT TECO 2030 ASA

TECO 2030 (OSE-Ticker: TECO) - powering your zero and low emission ships. TECO

2030 tackles one of the biggest environmental challenges of our time: How to

reduce emissions from growing global shipping volumes. The shipping industry can

move towards zero emissions by implementing new technologies, with

hydrogen-based fuel cells as the ultimate solution. http://www.teco2030.no

[http://www.teco2030.no/]

ATTACHMENTS

* Download announcement as PDF.pdf

[https://kommunikasjon.ntb.no/ir-files/17847477/290/342/Download%20announceme

nt%20as%20PDF.pdf]

* 040221_TheclaTECOAgreement.pdf

[https://kommunikasjon.ntb.no/ir-files/17847477/290/341/040221_TheclaTECOAgre

ement.pdf]