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SANDNES, Norway – 26 August 2022 – Today, Horisont Energi (EURONEXT: HRGI) reports its first half and second quarter 2022 results.

“Horisont Energi progressed our pioneering projects during the second quarter that will accelerate the transition to carbon neutrality when realised. The Barents Blue project has matured with several studies underway or completed. We are also excited to announce that our cooperation with Koole Terminals for the development of a terminal in the Port of Rotterdam will have a wider scope and include both clean ammonia and CO2 storage. This fits well with our strategic cooperation agreement with E.ON, signed during the first half of 2022, for the development of a European end-to-end carbon capture, transport and storage service offering.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

As the Barents Blue clean ammonia project in Hammerfest continues to mature, the associated Polaris offshore CO2 storage was licensed during the second quarter. Polaris will store CO2 from the clean ammonia plant Barents Blue.

In addition, Horisont Energi plans to develop a green ammonia plant in Finnmark, Northern Norway, with the Finnish company St1, with the ambition of producing green ammonia based on renewable energy.

“The concept involves hydrogen production based on electrolysis of water using new renewable energy and other forms of renewable energy. We are currently evaluating potential plant site locations with our partner in several municipalities in Finnmark.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

Horisont Energi is in a project development phase and consequently had no income, while the net loss was NOK 31.0 million in the second quarter of 2022. The company has a solid financial position with NOK 458 million in cash.

“We continue to be both time and cost efficient in developing pioneering projects that will accelerate the transition to carbon neutrality. Given the turmoil and war in Europe, and also the energy crisis, the company finds itself in a strong financial position that allows us to continue to deliver according to our plans”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

Please find the first half and second quarter 2022 report attached.

Horisont Energi will present its financial results for the first half of 2022 today at 08:00 CEST. The presentation will be in English, and questions can be submitted throughout the event. Link to the webcast: https://channel.royalcast.com/landingpage/hegnarmedia/20220826_3/

 

For further information, please contact:
Dan Jarle Flølo, CFO
+47 901 13 159
djf@horisontenergi.com

Media Relations
Siri Melberg
+47 470 35 718
sm@horisontenergi.com

About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that provides clean energy and carbon transport and storage services. The company will transform gas, water and renewable energy into cost-leading clean ammonia and hydrogen and offer CO2 transportation and storage services using proprietary technology, paving the way for a low carbon economy. The company was founded in 2019 and is headquartered in Sandnes, Norway.