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SANDNES, Norway – October 27, 2021 – Horisont Energi (EURONEXT: HRGI) has signed a framework agreement with ASCO Norge with a duration of 4 years and an extension option.

The logistics and supply company ASCO Norge, with 26 years of experience in its field, has been chosen as supplier of logistics and supply services for Horisont Energi’s pioneering endeavors within the production of clean energy and carbon transport and storage.

Horisont Energi will build Europe’s first large-scale factory for the production of so-called “clean” ammonia from natural gas and renewable energy, meaning that CO2 is captured during the production process and stored permanently in a sandstone reservoir. The reservoir, called Polaris, is located under the seabed off the coast of Finnmark in Northern Norway. An investment decision is expected for the Barents Blue project around the end of 2022.

Ammonia has a number of industrial uses, including within fertilizer production, and is currently the world’s second most used industrial gas, with an established infrastructure for shipping the product around the globe. In the future, ammonia is also expected be utilized as a climate-neutral fuel, especially in the maritime industry and for climate-neutral power production.

“Through the Barents Blue project, Horisont Energi and project partners are in the process of creating a new global production region for clean ammonia on a par with the largest ammonia production regions in the world. Ammonia is one of the world’s most important industrial gases, and clean ammonia will therefore play an important role in the green transition and in the low-carbon society.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

ASCO has assisted Horisont Energi in the process of choosing a site for the onshore facility and has offered valuable support in Finnmark and made important contributions during the process that led to Markoppneset in Hammerfest municipality as the preferred site for the company’s planned plant for production of clean ammonia.

“This is a very important contract for us. It confirms ASCO’s  dedication to sustainable solutions and demonstrates our commitment to positive contributions to the green transition through optimal logistics solutions.”
Runar Hatletvedt, CEO of ASCO Norge AS.

Moving forward, ASCO’s role will be to provide logistics and supply services within marine services, base and port services, materials management and control, transport and customs clearance, waste management, delivery of carriers and associated equipment, as well as other logistics-related services.

Investor relations
Dan Jarle Flølo, CFO
+47 901 13 159

Media Relations
Marianne Stigset
+47 41 18 84 82

About Horisont Energi
Energi Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy start-up that provides clean energy and carbon storage services at industrial scale. The company transforms gas into cost-leading clean 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.

About ASCO Norge
ASCO Norge operates supply bases for the oil and gas industry. The head office is in Tananger, with branch offices in Oslo, Kristiansund, Farsund, Sandnessjøen and Hammerfest. The company has 210 employees and a turnover of NOK 700 million. ASCO Norge is a part of ASCO Group, UK.

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 transported by ship to the Polaris reservoir for storage, with an estimated capacity in excess of 100 million tons below the seabed offshore Finnmark, which is equivalent to twice Norway’s annual greenhouse gas emissions. Currently in the concept phase, an investment decision for Polaris and the Barents Blue project is expected around the end of 2022.