TECO 2030 Share Capital Increase Registered

12.8.2024 15:16:47 CEST | TECO 2030 ASA | Total number of voting rights and
capital

(Lysaker, Norway, August 12th, 2024): TECO 2030 (OSE: TECO, OTC: TECFF, ISIN:
NO0010887516) has today registered the share capital increase in reference to
the stock exchange notice on July 26th 2024. This registration makes the first
tranche in the private placement towards Advait Infratech Limited complete. The
second and final investment tranche of USD 3 million (approx. NOK 33 million)
will follow shortly.

The share capital increase pertaining to the issuance of the new shares has now
been registered with the Norwegian Register of Business Enterprises. The
Company's new registered share capital is NOK 2,093,917.89 divided into
209,391,789 shares, each with a nominal value of NOK 0.01.

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Pål Christian Johnsen, CFO, +47 412 76 747, pcj@teco2030.no
* Tore Enger, CEO, +47 920 83 800, tore.enger@teco2030.no

ABOUT TECO 2030 ASA

TECO 2030 is building up Europe's first Giga production facility of hydrogen PEM
fuel cell stacks and modules in Narvik, Norway. The production capacity will be
built up through 2024 and 2025, targeting a production output capacity of up to
200 MW of fuel cells in 2025, increasing to gigawatt-production in 2030.

TECO 2030 is a Norwegian based clean tech company developing zero-emission
technology for the maritime and heavy industry. We are developing PEM hydrogen
fuel cell stacks and PEM hydrogen fuel cell modules, that enable ships and other
heavy-duty applications to become emissions-free. The company is listed on
Euronext Growth on Oslo Stock Exchange under the ticker TECO and in New York,
OTC under the ticker TECFF. TECO 2030 is a spinoff from TECO Maritime Group, a
group that has provided technology and services to the global shipping industry
since 1994. For more information, please visit www.teco2030.no -
http://www.teco2030.no.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847477/18199235/4830/Download%20announce
ment%20as%20PDF.pdf