TECO 2030 (TECO, 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.
A 12 MW fuel cell system will be utilized for full propulsion onboard each of
the six vessels, enabling 100% emission-free operations. Each vessel will be
about 63,000-deadweight tons and the first vessel is targeted for delivery Q1
2027.
The TECO 2030 fuel cell system will be installed in combination with a Pherousa
Green Technologies AS' (PGT) ammonia to hydrogen cracker. Bunkering ammonia and
cracking to hydrogen on board the vessel will solve the present storage and
infrastructure challenges of hydrogen as a marine fuel and thus paving the way
for zero emission deep-sea shipping.
Opting for hydrogen fuel cells in combination with an ammonia cracker allows
shipowners to commence with ammonia and transition to hydrogen whenever desired,
minimizing the investment risks. This approach does not only position ammonia as
a viable hydrogen carrier but also enables its economic trade as a preferred
fuel in shipping and complementing its traditional role in the chemical and
fertilizer sector.
The total supply agreement is subject to financing of PGS' newbuild vessels and
reaching a final contract of supply including closing price negotiations
according to industry standards.
"We are excited to team up with TECO 2030 and incorporate their Fuel Cell
solution together with our own Cracking technology, permitting the Pherousa
newbuildings to be the first ever fully electric deep-sea vessels on water" said
Hans Bredrup, Chairman of the Pherousa group. He further commented: "The
technology combination between TECO 2030 and Pherousa doesn't only reduce the
ammonia consumption versus the ammonia fueled Internal Combustion Engines
currently being developed, it also avoids burning Ammonia together with Carbon
based pilot fuels" and adds: "Truly Zero Emission by Choice".
"We are proud to sign a firm supply agreement for six vessels with Pherousa
Green Shipping, they are a young forward-thinking shipowner who wants to realize
zero emissions deep-sea shipping. Pherousa is an exciting company, with a clear
vision of proving that hydrogen and ammonia can be utilized to fuel tomorrow's
deep-sea vessels," said an enthusiastic Tore Enger, Group CEO TECO 2030.
