Norwegian hydrogen fuel cell firm TECO 2030 goes bankrupt
“The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations.”
“The board decision is unanimous and is due to the fact that there is no longer a realistic opportunity to raise sufficient capital to continue operations.”
Two European technology players have secured a long-term contract to supply a Chinese hydrogen fuel cell manufacturer with bipolar plates.
Canadian hydrogen-based e-natural gas (e-NG) producer Teralta has acquired the embattled fuel cell manufacturer Loop Energy as it looks to broaden its hydrogen portfolio.
TECO 2030 stated regulatory delays in Norway were hampering its plans to produce and deploy fuel cells in its home nation.
SFC acquired stationary hydrogen fuel cell assets ranging from 1.5-5kW in size installed at around 400 locations in Denmark, Norway, Sweden and Finland.
“This new fuel cell from Horizon sets the stage for hydrogen applications to enter a new era characterised by higher power, greater efficiency, compact size and lower costs,” a company statement said.
H2 View speaks with Dr. Stefan Dwenger, Chief Commercial Officer at EKPO Fuel Cell Technologies.
Having secured a combined $94m in US federal funding to develop the factory, the company has confirmed it will be able to “preserve” the funding despite the delayed FID.
The Chemours Company has confirmed to H2 View that it has put a $200m expansion of its fuel cell and electrolyser membrane manufacturing on hold as part of its reduction in hydrogen investments.
Norwegian hydrogen fuel cell firm TECO 2030 has launched plans to raise capital to set up production in the US after revealing it would look outside of its home market amid waning support.
