Horisont Energi publishes the integrated Annual and Sustainability Report for 2022

20 Apr 2023 08:00 CEST

SANDNES, Norway, 20 April 2022: Horisont Energi (EURONEXT: HRGI) today publishes
its integrated Annual and Sustainability Report for 2022.

Horisont Energi’s priorities in 2022 were to develop the organization and
progress the projects within the two business areas of clean energy production
and carbon capture and storage (CCS). Together with partners, customers,
contractors, and other stakeholders, the company has set out to establish a
complete end-to-end value chain for both clean ammonia and CCS.

2022 highlights:
• Entered into a cooperation agreement with E.ON and strengthened the financial
position through a private placement where E.ON acquired a 25% stake in
Horisont Energi
• Awarded Polaris CO2 exploration licence by the Ministry of Petroleum and
Energy
• Signed agreement with Koole Terminals to develop a clean ammonia logistic
value chain, including a CO2 terminal in Rotterdam
• Progressed the Barents Blue project and granted ESA approval under the
Important Projects of Common European Interest - Hydrogen program
• Partnered up with Neptune Energy on Carbon Capture and Storage (CCS)
• Applied for CCS exploration licence for Errai together with Neptune Energy

Major events have affected the main projects after the end of the year. Within
clean ammonia a new partnership was established, where in February Equinor and
Vår Energi decided to withdraw from the project and the Spanish ammonia producer
Fertiberia entered, to progress the Barents Blue project.

Within CCS, the company was in March informed that the CO2 exploration licence
on Errai had been awarded to other applicants. While this was a disappointment,
the company believes that its knowledge, technical solutions, and capabilities
within the CCS industry will put the company and its partners in position to
identify and develop new opportunities in the CCS space.

“We aim at making 2023 a year for renewed progress for our company and our
projects as we continue to work towards a sustainable, low-carbon energy future.
The CCS and ammonia markets are developing fast, and we are confident that
Horisont Energi will play a key role in developing attractive infrastructure
solutions to enable these markets,” says Bjørgulf Haukelidsæter Eidesen, CEO of
Horisont Energi.

The company ended the year with a cash position of NOK 393 million, which
supports the continued development of commercially attractive growth initiatives
in the years to come.
 

Key financials (NOK) 2022 2021
Income 0 375 000
Operating costs 143 502 696 53 358 286
Net profit -133 785 393 -52 295 716
Cash and cash equivalents 392 827 162 91 689 113


The attached Annual Report has also been made available on the Company's website
www.horisontenergi.no.

The company will today hold an online presentation of the Annual Report and a
company update at 08:00 CEST. Please follow the link to access the webcast here:

https://channel.royalcast.com/landingpage/hegnarmedia/20230420_3/



For information please contact:
Bjørgulf Haukelidsæter Eidesen, CEO
+47 990 36 892
bhe@horisontenergi.com

Dan Jarle Flølo, CFO
+47 901 13 159
djf@horisontenergi.com

Siri Melberg, Head of branding & communication
+47 470 35 718
sm@horisontenergi.com

About Horisont Energi
Horisont Energi Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy
company that will provide clean energy and carbon transport and storage
services. The company will transform gas into cost-leading ammonia and hydrogen
and offer 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


This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

More information:
Access the news on Oslo Bors NewsWeb site

588005_2023_04_19_HRGI Integrated Annual and Sustainability Report 2022 FINAL.pdf