As a member of the board at TECO 2030, Young will work closely with Group CEO Tore Enger, leading decision-making in areas such as capital market, investors and clients and further product development.
The appointment of Young follows an investment as the two parties agree to further regulate their joint intention to pursue a potential business combination and explore investment options on a US exchange
The investment was announced in November (2022), with the aim of TECO 2030 boosting their reputation in the US.
Read more: TECO 2030 boosted by NOK100 million investment from SunHydrogen
Enger said, “Tim possesses a deep understanding of US capital markets and investors, and he has an excellent understanding of the US hydrogen value chain and industry. Together we will be able to serve our clients and partners with heavy-duty and marine PEM fuel cells.”
TECO 2030 is developing Europe’s first gigafactory of hydrogen PEM fuel cell stacks for medium to heavy-duty trucks and PEM fuel cell modules for maritime applications.
Read more: TECO 2030 moves into its new fuel cell gigafactory site
Young said, “Port emissions from diesel-powered vessels and vehicles have soared in the past several years. California’s Port of Los Angeles is just one example of the global problem.”
In 2021, diesel particulate matter rose 56% and greenhouse gas emissions rose 39% compared with 2020 levels at the Port of Los Angeles, according to the Los Angeles Times.
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