Horisont Energi and ECOLOG Signs Collaboration Agreement for Norway – Netherlands CO2 Corridor

13 Nov 2024 16:30 CET

Sandnes, Norway 13 November 2024: Horisont Energi (EURONEXT: HRGI) and ECOLOG
have entered into a Collaboration Agreement to further develop the Norway –
Netherlands CO2 corridor and enable industrial-scale CO2 transport between the
Netherlands and the planned Gismarvik CO2 hub in Norway.

“The Collaboration Agreement with ECOLOG, Tata Steel Nederland, Port of
Amsterdam, OCAP, DNB, Haugaland Business Park and ABN AMBRO strengthen Norway’s
ties to the European continent and will enhance the attractiveness of Gismarvik
CO2 hub and new CO2 storage sites on the Norwegian Continental Shelf. A
Norwegian-Dutch CO2 corridor can enable permanent and safe sequestration of
significant CO2 volumes, to accelerate the transition to a more sustainable
future”, says Horisont Energi’s Co-CEOs Bjørgulf Haukelidsæter Eidesen and Leiv
Kallestad.

The agreement builds on the Cross-Border Transport Memorandum of Understanding
(MOU) signed between the governments of Norway and the Netherlands on 15 April
2024.
The purpose of the Collaboration Agreement is to initiate a partnership among
CO2 value chain stakeholders, evaluate feasibility, and advance the
implementation of a CO2 Corridor between the two countries with clear milestones
and timelines. Horisont Infra’s Gismarvik CO2 hub project at Haugaland Business
Park is intended to play a key role as the import terminal and injection hub for
permanent sequestration of the CO2 on the Norwegian Continental Shelf.

Gismarvik CO2 hub is planned to be developed in several stages with a capacity
up to 24 million tons per year, which equals about 50% of Norway’s annual CO2
emissions.

ECOLOG is developing a central aggregation and liquefaction export terminal in
Amsterdam to provide CO2 emitters in the region with a viable decarbonisation
solution and connect industry with sequestration capacity in Norway.

“As we lead the efforts to bring together CO2 emitters, midstream infrastructure
providers, and CO2 sequestration partners, our goal is to forge a collaborative
path towards decarbonisation. The Gismarvik CO2 hub is strategically positioned
to play a key role in this goal, serving as a technically mature project with
the capacity to receive large ships and significant CO2 volumes from Europe,”
says Jasper Heikens CCO of ECOLOG.

The Collaboration Agreement between Horisont Energi and ECOLOG was signed in
connection with the state visit from the Netherlands to Norway (Bergen) on 13
November 2024.

For more information:
Bjørgulf Haukelidsæter Eidesen, Co-CEO
+ 47 990 36 892
bhe@horisontenergi.com

Leiv Kallestad, Co-CEO
+ 47 958 95 661
leiv.kallestad@horisontenergi.com

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

About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that
provides clean energy and carbon transport and storage services. The company
will transform gas, water and renewable energy into cost-leading clean ammonia
and hydrogen and offer CO2 transportation and storage services using proprietary
technology, paving the way for a low carbon economy. The Horisont Energi group
includes three subsidiaries, Horisont Ammoniakk for the clean ammonia business,
Horisont Karbon for the carbon storage business and Horisont Infra for the
mid-stream CCS infrastructure. The company was founded in 2019 and is
headquartered in Sandnes, Norway.

You can follow us on:
http://www.horisontenergi.no
https://x.com/horisontenergi
https://www.linkedin.com/company/horisontenergi/

About ECOLOG
ECOLOG is a midstream CO2 and liquid hydrogen (LH2) services company dedicated
to net zero and supporting urgent action on climate change. ECOLOG is developing
large scale service platforms in the Carbon Capture, Utilisation and
Sequestration (CCUS) and LH2 supply chains. Its midstream infrastructure,
consisting of terminals and ships, will facilitate the large scale
decarbonisation of our society. ECOLOG connects CO2 emitters with the lowest
cost CO2 storage or highest value re-use sites worldwide and connects lowest
cost lowest carbon intensity hydrogen to customers throughout the world.

You can follow us on:
www.ECOLOG.earth
https://www.linkedin.com/company/ecolog-ltd/

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