TECO 2030 and Pherousa Green Shipping sign supply agreement to realize ammonia powered zero-emission deep-sea shipping

Lysaker, Norway - September 14th, 2023

TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) and Pherousa Green Shipping AS (PGS) sign green package supply agreement for up to six modern, zero-emission Ultramax dry bulk carriers of about 63.000 deadweight tons each.

Each vessel will be equipped with 12 megawatts (MW) of TECO 2030 fuel cells for main propulsion onboard. The TECO 2030 delivery scope is a green package approx. worth EUR 23 million per vessel.

The delivery for TECO 2030 includes a complete system of fuel cells installed on a skid solution as well as power and automation equipment and is estimated to start shipment to shipyard by early-2026, with delivery in mid-2026.

The fuel cell system will go into production at our Innovation Center in Narvik, Norway at the end of 2024.


Pherousa Green Shipping 63.000 dwt Ultramax.   Design Deltamarin.

TECO 2030 - press release