TECO 2030 with consortium finalizes agreement for EUR 5 million in HyEkoTank project, 2.4 MW fuel cell system.
TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) is announce that the Grant Agreement has been signed by the European Union. The grant consists of EUR 5 million in grants under the funding scheme HORIZON EUROPE. The project is planned to start in February 2023.
The HyEkoTank project will retrofit an 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.
Tore Enger, Group CEO, TECO 2030, said:
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I am pleased with the tremendous efforts dedicated by all the consortium partners to this project; together we will show the world what fuel cells are capable of when retrofitting a product tanker for Ektank.
“I am grateful to the EU who wants to assist us in realizing a retrofit fuel cell project for reducing and eliminating emissions along the European coastlines,” Enger adds.
Carl Henrickson, General Manager Technology, Innovation & Digitalisation, Shell Shipping and Maritime, said:
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.”
The HyEkoTank hydrogen powered tanker will demonstrate zero emission at berth and great reduction of GHG emissions during voyage. This pioneering project could become a first mover in this maritime shipping segment and contribute to achieving the ambitious climate targets set by the European Union.
As part of the European Green Deal, the EU has committed to reducing GHG emissions by 55% by 2030, and a binding target of achieving climate neutrality by 2050. Under the ‘Fit for 55 package’ the EU is currently developing its climate, energy and transport-related legislation to align current laws with the 2030 and 2050 ambitions.
TECO 2030 with consortium finalizes agreement for EUR 5 million in HyEkoTank project, December 21, 2022
