Greenstat has signed a letter of intent with hydrogen fuel cell producer TECO 2030 to cooperate on relevant projects with the aim of developing a complete hydrogen value chain, according to the company's release.
As part of the agreement, the two 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.
Hydrogen fuel cells are the engines of tomorrow and convert hydrogen into electricity while emitting nothing but water vapour 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 fuelled by green hydrogen, they can become completely emissions-free.
About Greenstat
Greenstat is a Norwegian energy company that develops and operates sustainable energy and green hydrogen projects and facilities. The company focuses on projects that support the transition to renewable energy.
About TECO 2030
TECO 2030 tackles one of the biggest environmental challenges of our time: How can we combine continued economic growth with reduced emissions? By developing hydrogen fuel cells, TECO 2030 enables ships and other heavy-duty applications to become emissions-free. The company is also developing other solutions that can help the maritime industry reduce its environmental footprints, such as exhaust gas cleaning and carbon capture systems for ships.