TECO2030 has signed a strategic cooperation agreement with Al Misehal Group to develop a JV between the parties aimed at reducing environmental impact in the KSA. 

This agreement secures further off-take from the production at the Innovation Center in Narvik and will lead to an increase for Norwegian export.

The cooperation is built to contribute towards the KSA’s “Vision 2030” with an ultimate goal of achieving net-zero by 2060. The TECO2030 and Al-Misehal cooperation aims to supply zero-emission hydrogen-based fuel cells in the region, with an intended goal of converting various power sources towards zero emissions. The vision is built around three themes: a vibrant society, a thriving economy, and an ambitious nation. This strategic cooperation will be a rewarding partnership in terms of knowledge sharing, economic growth, and innovative thinking for achieving the ultimate goals of the net-zero vision.

The fuel cell stacks will be produced at TECO2030 Innovation Center in Narvik and later fuel cell modules with power output capacity of 400 kW will be manufactured at a desired location in the KSA. Further, a full sales and marketing department will be established to conduct business within the region.

The parties believe that green hydrogen will play a key role in reaching the United Nation’s Sustainable Development Goals.

“We look forward to working with TECO2030 on the fuel cell deployment in KSA to manufacture heavy-duty hydrogen fuel cell units and transfer knowledge to the local workforce in the OXAGON Industrial City within NEOM. This JV is in line with the Kingdom’s Vision 2030, and a major milestone in achieving net zero carbon in 2060,” said Adnan Al-Misehal, Al Misehal Group Chairman.