© TECO 2030
© TECO 2030

Innovation Norway backs TECO 2030 with NOK 50m grant to support fuel cell deployment

Fuel cell innovator TECO 2030 has received an NOK 50m ($4.69m) grant from Innovation Norway to support the deployment of its PEM fuel cell technology in shipping and heavy-duty industry.

Awarded under the environmental technology category, the grant is hoped to enable Innovation Norway to stimulate research and development projects, domestic value generation, and creation of responsible businesses.

TECO 2030 has said the funding will help accelerate the development and deployment of its fuel cells, as well as the industrialisation of its gigawatt-scale production facility in Narvik, Norway.

Read more: TECO 2030 moves into its new fuel cell gigafactory site

Having announced a series of major milestones in recent months, from signing supply deals to completing its first stack production, TECO 2030 told H2 View in an exclusive interview that it expects to see its first fuel cell in operation for a customer later this year (2023).

Read more: TECO 2030: Full steam ahead

Commenting on the funding, Tore Enger, Group CEO of TECO 2030, said, ““We are moving ahead with full speed to deliver heavy-duty and marine PEM fuel cells to various energy intensive industries. The grant from Innovation Norway will allow us to accelerate the development and deployment of our fuel cells and the industrialisation of the production facility in Narvik.”

Enger added, “The support from Innovation Norway will increase green technology knowledge and economic growth in a region which aims to become a hub for Green Industry in Norway.”

Monica Ahyee, Regional Director, Innovation Norway Nordland, said, “This is an important investment both for national strategy and regional development. Innovation Norway’s role is to reduce risk in the development phase and the company has already achieved several important financial and technological milestones.”

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