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TECO 2030-Led Consortium Wins Funding for Hydrogen-Powered Passenger Vessel
A consortium led by technology firm TECO 2030 has won up to $500,000 in funding for a project to develop a hydrogen-powered catamaran.
TECO 2030, Umoe Mandal and BLOM Maritime are working to develop a hydrogen fuel cell-powered vessel that can carry 200-300 passengers at speeds above 35 knots over long distances, the company said in a statement on its website on Monday.
The consortium will receive up to NOK 5 million ($500,000) in funding support.
This year and in 2023 the consortium will develop the project and seek approval for their solutions, before a supplier is picked to build and demonstrate the vessel, with pilot operation expected from 2025.
"We are humble and proud to be qualified for developing the high-speed vessel of the future, powered by hydrogen and TECO 2030 fuel cells," Tore Enger, CEO of TECO 2030, said in the statement.
"This proves our ability to lead advanced vessel developments and design either it is retrofit or newbuilds through our maritime expertise."
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 567.50 | 3.50 | 700.00 | 14.50 |
| Rotterdam | 512.50 | 4.00 | 695.00 | 17.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 562.50 | 2.50 | 755.00 | 0.00 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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