Greenstat & TECO 2030 teaming up on developing a hydrogen value chain

TECO 2030 signed a letter of intent with Norwegian energy company Greenstat to cooperate on relevant projects with the aim of developing a complete hydrogen value chain.

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As part of the agreement, the parties will discover, evaluate and participate in relevant projects. For the projects they decide to cooperate on, Greenstat will provide green hydrogen to be used as fuel for the fuel cells developed by TECO 2030.

A milestone

Tore Enger, CEO of TECO 2030, called the plan a 'milestone towards building complete infrastructure hydrogen projects.'

'Together with Greenstat, we are working towards our common goal of creating a zero-emission future, and we will aim to promote each other’s services towards the hydrogen community,' Enger added.

'We strongly believe in collaboration throughout the value chain to accelerate the introduction of hydrogen as an energy carrier across different sectors,' said Vegard Frihammer, GEO/CEO of Greenstat.

Green hydrogen

Hydrogen fuel cells convert hydrogen into electricity while emitting nothing but water vapor and warm air.

Green hydrogen is hydrogen produced with renewable energy such as electricity from wind turbines and solar panels. When ships or other large applications replace their traditional combustion engines running on fossil fuels with fuel cells fueled by green hydrogen, they can become emissions-free.