SANDNES, Norway – October 08, 2021 – Horisont Energi (EURONEXT: HRGI) and Koole Terminals B.V. (Koole Terminals), a leading independent liquid bulk storage company, today announced the signing of a memorandum of understanding to collaborate on the development of a terminal and storage facility at the Port of Rotterdam.
According to the agreement, Horisont Energi and Koole Terminals will explore the establishment of a strategic and collaborative relationship for storage of ammonia produced and shipped from Norway to Rotterdam. The agreement will also cover technical and commercial conceptual models for storage of ammonia products, services solutions and technologies for further distribution, to meet forecast demand in Northwest Europe. Koole Terminals has a storage capacity of over 4.1 million cubic meters and is connected to several transport modalities (i.e. ship, truck, rail and pipeline) with direct pipeline connections to core clients.
“I’m excited to announce this agreement. As Horisont Energi and our partners work towards developing Europe’s first world-scale clean ammonia project, it is essential to establish relationships with key storage, handling and transport partners in the region, to ensure our clean ammonia can reach all potential clients.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.
Horisont Energi recently announced a cooperation agreement with Equinor and Vår Energi, the two largest offshore oil and gas producers in the Barents Sea region, on the joint development of the Barents Blue project, Europe’s first large-scale production facility for blue ammonia. The Barents Blue project is based on using natural gas, clean water and renewable energy to produce clean ammonia, which is a key industrial gas used globally in the fertilizer and chemical sector and is a very efficient hydrogen carrier, making it one of the most promising fuels for decarbonization of parts of the maritime sector.
During the production process at the Barents Blue ammonia plant, more than 99 percent of the CO2 will be captured and permanently stored in the offshore Polaris reservoir below the seabed offshore Finnmark. Koole Terminals will play an important role in facilitating and supporting the distribution of ammonia from the Barents Blue production plant in Hammerfest, Northern Norway.
“We are eager to work with Horisont Energi to materialize their European distribution hub for blue ammonia. We consider ammonia as one of the important future liquid energy carriers, and as such this project fits very well with Koole’s sustainable energy strategy.”
John Kraakman, CEO of Koole Terminals.
Dan Jarle Flølo, CFO
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About Horisont Energi
Energi Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that provides clean energy and carbon storage services at industrial scale. The company transforms gas and renewable energy 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. www.horisontenergi.no
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 11 strategically located terminals in Europe and a total volume of 4,100.000 cbm, Koole reflects the diversity of its customers’ needs. From transporting, storing, blending, 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.
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.