Although the company has been developing a 1.2GW fuel cell manufacturing facility in Narvik, Norway, since 2021, its stated that pivoting to a licensing model will enable it to concentrate on advancing its core technology.
Read more: thyssenkrupp to supply PEM fuel cell production line to TECO 2030’s Narvik site
TECO 2030 said the decision reflects its “commitment to growth” in global markets, “in the face of regulatory delays in Norway.”
A company spokesperson told H2 View the firm’s Norwegian production plans are now at an “uncertain stage,” and will remain so until there are “clear incentives and support from government.”
Highlighting growing opportunities driven by government support and investment in regions like the US, India and Southeast Asia, the firm hopes to take full advantage of the new business model.
“Despite efforts to secure risk financing in Norway, both from public and private sectors, the interest and capital support for clean-tech projects remain limited,” the company said.
“By shifting focus to licensing, TECO 2030 can leverage stronger demand in high-potential international markets, ensuring sustainable growth and reinforcing its leadership in hydrogen fuel cell innovation.”
Having already revealed plans to establish a joint venture in India with Adviat Infratech, as well as holding an American entity, TECO 2030 plans to capitalise on the nations’ major funding programmes.
It comes as other western fuel cell and electrolyser original equipment manufacturers (OEMs) look to leverage licensing agreements to secure their futures with low-CAPEX manufacturing expansions.
Compatriot, long-standing electrolyser firm, Nel, in May signed a technology licensing agreement with Reliance Industries Limited (RIL) to allow the Indian multinational to manufacture Nel’s alkaline electrolysers.
Read more: RIL to manufacture Nel’s alkaline electrolysers in India under license
TECO 2030 has not said what the licensing model focus will mean for the future of the Narvik factory. H2 View has reached out for confirmation.
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