Horisont Energi and Koole Terminals signs a collaboration agreement to develop a logistic value chain for clean ammonia

SANDNES, Norway – 22 December 2022 – Horisont Energi (EURONEXT: HRGI) and Koole Terminals B.V. (Koole Terminals), a leading independent provider of integrated services for storage, processing, and logistics, today announced a collaboration agreement to develop a logistic value chain for clean ammonia.

In the fall of 2021, the two companies signed a memorandum of understanding to collaborate on the development of a terminal and storage facility at the Port of Rotterdam. The terminal will receive clean ammonia produced and shipped from the clean ammonia plant Barents Blue located in Finnmark, in the north of Norway. This cooperation agreement is a continuation of the memorandum of understanding. It will now include a broader scope of work to develop an international logistic value chain for clean ammonia. This is a big step for Horisont Energi and the commercialization of the Barents Blue project in order to serve the market and potential end-users of clean ammonia in Europe and other parts of the world.

The cooperation agreement will include the following scope of work:

• Establish an import terminal in the Port of Rotterdam for storage and handling of clean ammonia for onward inland and continental Europe onward seabound distribution, in the concept of comingled storage, built, owned, and operated by Koole, with Horisont Energi being one of the major launching customers
• Establish ammonia bunkering capabilities in the Port of Rotterdam, built, owned, and operated by Koole Terminals, with Horisont Energi being one of the major launching customers
• Establish import terminals across various European ports for storage and handling of ammonia for onward inland distribution, in the concept of comingled storage, built, owned, and operated by Koole Terminals, with Horisont Energi being one of the major launching customers
• Develop full logistics value-chain, one-stop-shop solutions towards ammonia offtakers, including services like shipping, storage, pipeline connection, onward logistics by railcar or truck and potential cracking into hydrogen

“This cooperation agreement with Koole Terminals is an important step for the clean ammonia logistics in our projects and for Horisont Energi. To serve the market with clean ammonia, we are eager to start the work to develop a full logistic value chain. This will ensure transport, receipt, and delivery of clean ammonia to different industries and to the markets in the years to come. The green shipping industry is of special interest to us and with the Fuel EU Maritime Initiative moving towards approval next year, this agreement is also important seen in a larger context. We look forward to continuing the good cooperation with Koole Terminals – time is off essence,” says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

“We’re working closely together with various launching customers for our Rotterdam ammonia and carbon dioxide terminal. Horisont Energi is among the first and most developed. We cherish the good partnership and working relation and see them as one of the frontrunners in providing clean energy and decarbonisation solutions. The next years will require rapid infrastructure development and investment decisions from all players in the value chain. We stand together with Horisont Energi in driving the energy transition forward,” says Tamme Mekkes, Business Development Director of Koole Terminals.

The Barents Blue project is Europe’s largest clean ammonia production facility, being the first world scale ammonia factory in Europe. The factory will produce ammonia based on natural gas from the Barents Sea. During the production process, CO2 will be captured and transported to an offshore reservoir called Polaris, where it will be permanently stored beneath the seabed. The EFTA Surveillance Authority (ESA) and the EU Commission has approved the Barents Blue project under the IPCEI Hydrogen program, also known as Hy2Use.

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 natural and renewable gases, 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. www.horisontenergi.com

About Koole Terminals
Koole Terminals is a leading and independent storage, processing, and logistics company, enabling business growth through integrated and innovative service offerings for large-volume products, driving the energy transition forward for a sustainable future by supporting its world-class customers. With 20 strategically located terminals in Europe and a total volume of 5.300.000 cbm, Koole reflects the diversity of its customers’ needs. From transporting, storing, blending, and processing a wide range of products, to ensuring a low carbon footprint through focused energy efficiency. All these solutions are always provided in a safe, reliable, and sustainable manner. https://koole.com