Horisont Energi Joins the Ammonia Energy Association to Accelerate the Pace for Adoption of Ammonia within a Sustainable Energy Economy

SANDNES, NORWAY – July 1st, 2021 – Horisont Energi (EURONEXT: HRGI), a Norwegian carbon tech company that provides clean energy and carbon storage services, announced today that it has joined the Ammonia Energy Association (AEA), a global industry association that promotes the responsible use of ammonia in the sustainable energy economy.

Horisont Energi is in the process of developing Europe’s first large-scale factory for the production of so-called “blue” ammonia from natural gas, which means that CO2 is captured during the production process and stored. Using natural gas from the Barents Sea, the Barents Blue plant, located in Finnmark in Northern Norway, 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. This is equivalent to twice Norway’s annual greenhouse gas emissions.

“Horisont Energi is proud to join the Ammonia Energy Association, which plays an important role in accelerating the pace at which clean ammonia energy is adopted on a global scale. We expect that our membership in the AEA will enable us to share our knowledge across the industry and actively participate in projects globally where our technology solutions and expertise can be leveraged most effectively,” said Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

The AEA is the global agent of collective action for the ammonia energy industry by creating, collecting, organizing, and disseminating relevant knowledge for the responsible use of ammonia in a sustainable energy economy. The organization brings together leading ammonia energy developers and implementers working together to define the future of sustainable energy technology and business. Through its participation in the association, Horisont Energi will engage in knowledge sharing and collaboration with industry, academia, governments and NGOs.

Recognition is growing for the role of clean ammonia in the sustainable energy future and companies across the globe are increasingly considering how to include clean ammonia in their portfolios of clean energy technologies. Ammonia has numerous industrial applications, including in fertilizer production, and is currently the world’s second-most used industrial gas, with an established infrastructure for shipping throughout the globe. In the future, ammonia is also expected be used as a climate-neutral fuel, especially in the maritime industry and for climate-neutral power production.

Horisont Energi has joined the AEA to identify projects where the company’s technology can contribute effectively and be involved in accelerating the pace at which clean ammonia becomes available. As the technological readiness, political necessity and commercial opportunity for ammonia energy increases, so grows the need for a strong industry representation to navigate the complexities of the wider energy sector and to support the development of standards and policies that will provide a stable framework in which ammonia to energy projects can be implemented and expanded to scale.

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 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 entering the concept phase, an investment decision for Polaris and the Barents Blue project is expected towards the end of 2022.

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