EMEA News
TECO 2030's Fuel Cells Attract State Support
Friday September 24, 2021
A Norwegian company focused on marine innovation has got a tax boost from the Norwegian government.
Teco 2030 will get NOK5.4 million ($0.6m) in tax relief via a government fund used to support research and development.
The company is to start producing hydrogen fuel cells at a new combined innovation centre and factory in Narvik in northern Norway.
Pilot production of the fuel cells is set to start in the second half of next year, according to the company.
Earlier this year, Teco 2030 said that it had undertaken a feasibility and concept study for marine fuel cells with Austrian firm AVL List.
The system's building block is the Gen0 fuel cell stack, developed by the company.
