SANDNES, NORWAY – April 21, 2021 – Horisont Energi AS’ Project Barents Blue, the first world-scale blue ammonia plant in Europe, has been short-listed by Enova as one of five candidate hydrogen projects in Norway for possible participation in the Important Projects of Common European Interest (IPCEI) on hydrogen. A process conducted over the next few months will determine which candidates from 23 European countries will be successful in integrating the European IPCEI project and receive national funding.
The Barents Blue project is a world-scale clean ammonia project in Finnmark in Northern Norway, which includes planned CO2 storage offshore. The facility will convert clean hydrogen into ammonia, an easily transported hydrogen carrier, which can be converted back to hydrogen at the destination or used directly in many applications. Horisont Energi entered into a Memorandum of Understanding with Equinor in November 2020 for the development of Barents Blue. Through the IPCEI Hydrogen matchmaking process, Horisont Energi will be able to link Barents Blue with other projects and value chains in Norway and in the European Union (EU), benefiting from knowledge transfer, market size and other economies of scale.
“We’re immensely proud that Project Barents Blue has been short-listed as a candidate for the final selection process in IPCEI Hydrogen, which will give us access to relevant industry alliances where investors, industry and the public sector work together to finance large-scale, strategically important projects such as ours,” said Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.
Hydrogen is an environment and climate-friendly energy carrier. Thus, hydrogen technology holds significant decarbonisation potential for the industry, transport and energy sectors. It allows emission-free production, storage and utilisation of energy. Developing hydrogen technology and markets is a key element of the EU’s plan to become the first climate-neutral continent by 2050. IPCEI was established to accelerate this development. Norway has joined the IPCEI initiative for hydrogen, and Enova manages the participation of Norwegian companies in the initiative. Enova received 25 applications, of which five were selected, including Horisont Energi. Now Horisont Energi moves forward into the final selection at EU level.
IPCEI is a mechanism for promoting investments in cross-border R&D and industrial projects of particular importance for European development. IPCEI’s are large innovation projects that often involve a great deal of risk, and which require a coordinated effort and cross-border investments from public authorities and industries in several EU member states to be realised. They are particularly aimed at new industrial areas that are not realised due to various barriers.
Although IPCEI projects are European projects, the process starts nationally, and national funds are used in each country.
Read more on the IPCEI Hydrogen process here: https://www.enova.no/ipcei/