TECO 2030 ASA – Subsidiary Files For Bankruptcy
Lysaker, Norway – 3 December 2024: Reference is made to the stock exchange
notice of 14 November 2024 in which it was disclosed that a bankruptcy petition
was filed against TECO 2030 Innovation Center AS (“Innovation Center”), a wholly
owned subsidiary of TECO 2030 ASA (the “Company”), with the bankruptcy hearing
scheduled for 5 December 2024. In light of recent developments, the board of
directors of Innovation Center has made the decision to formally file for
bankruptcy, and this filing has now been executed.
The Company is currently evaluating the implications of this bankruptcy filing,
particularly concerning its overall prospects and outlook in light of the
ongoing bankruptcy petition against it. Notably, Innovation Center holds a net
claim of approximately NOK 22 million against the Company. Additionally, the
Company has provided a guarantee of NOK 10 million to the former landlord of
Innovation Center. As part of the bankruptcy proceedings, the Company will also
write off the recorded equity of NOK 30,000 associated with Innovation Center.
READ the latest news shaping the hydrogen market at Hydrogen Central
TECO 2030 ASA – Subsidiary Files For Bankruptcy, source
