TECO 2030 has filed for bankruptcy of its subsidiary set up for its Norwegian gigascale hydrogen fuel cell plant.
TECO 2030 Innovation Center AS was set up by the fuel cell firm to manage the development of its 1.2GW manufacturing facility in Narvik, which had been under construction since 2021.
However, in September, the company revealed plans to pivot towards overseas licensing and manufacturing as support and demand waned in its home nation.
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