TECO 2030

TECO 2030 Overview

Company Headquarters: Norway

Founded: 1994

Workforce: N/A

Company Working: TECO 2030 is an engineering as well as equipment development company with a focus on a cleaner and greener environment. The company's objective is to identify as well as develop high quality, cost-effective, and cutting edge solutions for significantly reducing the environmental impact of maritime pollution. TECO is also developing various solutions that can allow the maritime industry for reducing its emissions, for instance, exhaust gas cleaning as well as carbon capture system for ships. The company offers marine fuel cell systems designed for heavy duty marine applications which offer emission-free propulsion by use of hydrogen as fuel.

Strategy

TECO 2030 is focused on expanding its product portfolio to strengthen its position in developed countries. It also focuses on developing advanced components and accessories used in marine segments. The company aims to expand its business through collaborations and product development.

Company Snapshot

$0.2M

Revenue

1994

Founded

Norway

Headquarters

SWOT Analysis

Strengths

Wide product portfolio
High investment in research and development
strong supply and distribution network

Weaknesses

Dependence on its marine product segment

Opportunities

Strategic alliances in Asia Pacific
Scope for development of fuel cell technologies

Threats

Estimates of loss contegencies associated with environment damage with environment damage and product warranty

Key Developments

Date	Approach	Development
March 2023	Collaboration	TECO 2030 has signed a memorandum of understanding with an unclosed party. In this MOU the company will work on different fuel cell projects, the project represents marine fuel cell as well as on-shore stationary fuel cell systems in MW scale.
December 2022	Partnership	TECO 2030 and SinoHykey have done a partnership in which SHK will provide MEA, a major component in the TECO 2030 fuel cell system for decarbonizing marine transportation.
September 2022	Product Launch	TECO 2030 has introduced a new product TECO 2030 Power Barge, the solution consists of TECO 2030 fuel cell modules, power electronics, batteries, refueling solution, hydrogen storage, safety as well as automation systems.
January 2021	Product Launch	TECO 2030 introduced a product undergoing development as well as type approval the "FCM" 400" fuel cell module. The "FCM 400" fuel cell module is a building block for application in the Marine.

Product Offering

TECO 2030
- Fuel Cell System

Financial Performance

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