Sandnes, Norway 21 October 2024: Horisont Energi (EURONEXT: HRGI) has agreed with a leading global technology company to cooperate on the development of carbon capture and storage (CCS) projects in Europe (outside Norway).
The collaboration includes joint development of end-to-end CCS projects where Horisont Energi is intended to take the role as carbon storage project developer and operator.
Horisont Energi established a new company structure earlier this year with three separate subsidiaries namely Horisont Ammoniakk, Horisont Karbon and Horisont Infra, to facilitate pureplay industrial partnerships. Horisont Karbon is the subsidiary in which the new industrial CCS collaboration will be developed.
“We are now seeing the effect of the significant competence, know-how and organisational capabilities Horisont Energi has built within CCS over the last five years. Our collaboration with a company with trusted experience, innovative technologies, and execution capabilities will facilitate new market entries, strengthen and complement our capabilities, and contribute to the development of new pioneering projects in Europe”, say Horisont Energi’s Co-CEOs Bjørgulf Haukelidsæter Eidesen and Leiv Kallestad.
The collaboration may over time also positively impact value creation for our Norwegian projects and contribute to risk mitigation in support of project realisation. CCS is a crucial technology for reducing CO2 emissions and plays an essential role in achieving our shared climate goals. The market potential is significant, and to advance the CCS market, it is vital to establish well-coordinated value chains and frameworks. These will ensure alignment of timelines across the various stakeholders, from the capture phase through to carbon sequestration.
