Horisont Energi joins industry coalition to develop green fuels and CO2 corridors

10 Dec 2024 15:00 CET

Sandnes, Norway – 10 December 2024: Together with 30 other companies, Horisont
Energi (EURONEXT: HRGI) is joining a new industry coalition led by Madoqua
Renewables to develop a robust green fuels and CO2 value chain connecting
Portugal to Northern Europe and Norway. The forming of the coalition has today
been formalized by the signing of a Memorandum of Understanding (MoU).

The coalition features global leaders like Cargill, Norwegian Cruise Line,
Mitsui, Siemens, Thyssenkrupp, Kellogg Brown and other industrial and
infrastructure partners, as well as financing partners like ING Bank in the
Netherlands and MUFG Bank in Japan, and terminal and port partners in Portugal,
Spain, Germany and the Netherlands connecting to Gismarvik CO2 hub as the
terminal partner in Norway for intermediate storage and CO2 sequestration.

"It is essential to think in terms of entire value chains when planning and
building new green industries and realizing the full potential of carbon
management as part of the green transition. This coalition is an effort to
establish a functioning large-scale CO2 management market, and we are glad to
contribute as a CO2 infrastructure and sequestration partner. This is a
recognition of our competence in this field and in the potential of our planned
Gismarvik CO2 hub in a European context," say Co-CEOs Bjørgulf Haukelidsæter
Eidesen and Leiv Kallestad.

The coalition partners will promote collaboration to build an efficient supply
chain for CO2 sequestration to the Netherlands and further on to Norway and for
green hydrogen derivatives from Portugal to the Netherlands and Germany.
Horisont Energi’s Gismarvik CO2 hub will be the final and only hub for CO2
sequestration and storage in this coalition and in this value chain.

“Energy transition is a journey, where partnerships are key to success. Our
recent ports collaboration is designed to make this approach a reality.
Developing new generation facilities focused on producing e-fuels is just one
piece of the integrated green fuel corridor puzzle. A significant amount of
existing port, bunkering services and transportation infrastructure must be
either re-purposed, augmented or built to meet the upcoming demand for e-fuels
from the shipping and end use industry”, says Marloes Ras, the CCO of Madoqua.

The agreement builds further on Horisont Energi's partnership with ECOLOG to
advance the Norway–Netherlands CO2 corridor, which was announced in November.
The initiative aims to strengthen connections within Europe’s CO2 infrastructure
and support cross-border decarbonization efforts.

Earlier this year, the governments of Norway and the Netherlands signed a
Cross-Border Transport Memorandum of Understanding to unite CO2 stakeholders,
assess feasibility, and advance a CO2 Corridor with defined milestones and
timelines.

The Gismarvik CO2 hub project is one of the largest CO2 hubs planned in Europe
with an annual capacity for intermediate storage of 24 million tonnes.

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.

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