TECO 2030 and Yokogawa Electric have signed a partnership and investment agreement to develop hydrogen fuel cell technology in industrial applications.
Under the agreement, Yokogawa has invested in TECO 2030 through acquiring treasury shares, enabling the companies to collaborate on fuel cell technology and explore opportunities for distributed power sources in maritime transportation and industrial sectors.
Whist TECO 2030 are already developing hydrogen fuel cells at its facility in Narvik, Norway, Yokogawa Electric will provide its experience in developing core measurement, control, and information technologies for the energy, chemical, and other process industries.
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