SANDNES, Norway – June 15, 2021 – Horisont Energi (EURONEXT: HRGI) today announced that it has selected Saipem S.p.A. (Saipem) and Technip Energies B.V. (Technip Energies) for two independent concept studies for the full conceptual design of the Barents Blue carbon-neutral ammonia plant in Hammerfest, northern Norway. The studies will be key for future decisions to realize the Barents Blue project.

– By engaging Saipem and Technip Energies, two leading global EPC contractors of large-scale international industry projects, we aim to find the most innovative solutions and fully develop the modularized- and winterized process and utilities design. This will provide us with a solid basis for the decision to move into FEED and into realization of the Barents Blue project, says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

The two EPC contractors have several decades of ammonia plant development and construction experience and provides the project with the highest level of quality that the market can provide.

– Together with Haldor Topsøe as ammonia technology licensor, we have set ourselves up with the best, says Eidesen.

The two competitive concept studies, both starting now and to be completed in November 2021, will display the design of Europe’s first large-scale blue ammonia plant building upon Haldor Topsøe’s SynCOR AmmoniaTM technology with above 99 percent overall carbon capture.

In the two concept studies, Saipem and Technip Energies will fully develop the novel process design that Haldor Topsøe and Horisont Energi have been developing since May 2020 and now completing in the previously performed Topsøe White Book processing design study, including the respective modules, utility systems and equipment needed to realize the full-sized plant. The concept studies will be performed in close collaboration with Multiconsult ASA, which is responsible for the site-preparation, construction and infrastructure work.

– The Haldor Topsøe syngas and ammonia technology is well known to both Saipem and Technip Energies, which have previously built several ammonia plants with this technology. We are really looking forward to the completion of the studies, as they will constitute a central element in the decision-making process for the design and realization of the ammonia plant, says Eidesen.

Barents Blue will be 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. The storage will be done by transporting all CO2 offshore where it is injected into a large geological reservoir under the seabed.

The proposed plant will offer a climate-friendly market outlet for a significant part of the natural gas from the Barents Sea. 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.

The construction work of the Barents Blue project is planned to take place from 2023 to 2025 and the plant is expected to be in operation in 2025.

– I am pleased that we are maintaining the momentum in this groundbreaking project, and are accelerating the transition we all want. This truly demonstrates the get-it-done attitude that lives in the Horisont Energi team, Eidesen finishes.

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

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. 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.