SANDNES, Norway – September 9, 2021 – Horisont Energi (EURONEXT: HRGI), Equinor and Vår Energi have entered into a cooperation agreement for the development of Barents Blue, Europe’s first large-scale production facility for blue ammonia.

“This agreement means that we are now moving forward in the Barents Blue project with two industrial partners with a strong local presence. They have a long-term perspective and bring extensive experience with large and complex technical projects. This is a major step forward for Barents Blue”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

Equinor and Vår Energi are the two largest offshore oil and gas producers in the Barents Sea region, which are supposed to be among the natural gas suppliers to the Barents Blue ammonia plant.

The Barents Blue project is based on using natural gas to produce ammonia, which is a key industrial gas used globally in the fertilizer and chemical sector and is a very efficient hydrogen carrier, making it one of the most promising fuels for decarbonisation of parts of the maritime sector. During the production process in the Barents Blue ammonia plant, more than 99 percent of the CO2 in the process gas will be captured and permanently stored in the offshore Polaris reservoir below the seabed offshore Finnmark. The Polaris reservoir may have a storage capacity in excess of 100 million tons, which is equivalent to twice Norway’s annual greenhouse gas emissions.

“The Barents Blue ammonia plant is planned to consist of three process trains which may be developed simultaneously or sequentially including all required utilities for producing blue ammonia. Each train calls for a facility producing approximately 1 million tons of pure ammonia per year, potentially permanently storing 2 million tons of CO2 annually, making Barents Blue one of Norway’s largest environmental projects.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

About Barents Blue
Barents Blue will provide Europe’s first large-scale clean ammonia production. Based on natural gas from the Barents Sea, it will include a world-scale clean ammonia plant located in Finnmark in Northern Norway. Barents Blue will have a production capacity of 3000 tons of ammonia per day once operational. During the production process, carbon will be captured and permanently stored in the Polaris reservoir.

About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian carbon tech company that provides clean energy and carbon storage services. The company transforms gas into cost-leading ammonia and hydrogen, and offers CO2 transportation and storage solutions using proprietary technology, paving the way for a low carbon economy. The company was founded in 2019 and is headquartered in Sandnes, Norway. https://www.horisontenergi.no/

About Equinor
Equinor is an international energy company with activity in around 30 countries. Based on more than 45 years of experience from oil and gas production on the Norwegian Continental Shelf and a growing portfolio of renewable power production and low carbon projects, Equinor creates value through safe and efficient operations, innovative solutions and technology. Equinor has its headquarter in Stavanger with around 20.000 employees worldwide and the company is listed in New York and Oslo.

About Vår Energi
Vår Energi is the largest independent operator on the Norwegian Shelf. Based on more than 50 years of active participation in Norway, the company was established in 2018 through the merger between several legacy companies. Vår Energi targets value creation through growth in core areas, whilst ambitiously reducing its climate emissions and ensuring safe operations. Vår Energi is jointly owned by Eni S.p.A and HitecVision, is headquartered in Sandnes with office locations in Hammerfest and Oslo.

Further information:

Investor relations
Dan Jarle Flølo, CFO
+47 901 13 159
djf@horisontenergi.com

Media Relations
Marianne Stigset
+47 41 18 84 82
Marianne.Stigset@corpcom.no