HRGI signs an agreement with ASCO Norge

Horisont Energi has signed a framework agreement with ASCO Norge with a duration of 4 years and an extension option.

With 26 years of experience in its field, the logistics and supply company ASCO Norge has been chosen as the logistics and supply services supplier for Horisont Energi’s pioneering endeavors in producing clean energy and carbon transport and storage.

Horisont Energi (EURONEXT: HRGI) will build Europe’s first large-scale factory to produce so-called “clean” ammonia from natural gas and renewable energy, meaning that CO2 is captured during the production process and stored permanently in a sandstone reservoir. The Polaris reservoir is located under the seabed off the coast of Finnmark in Northern Norway. An investment decision is expected for the Barents Blue project around the end of 2022.

In the future, ammonia is expected to be utilized as a climate-neutral fuel, especially in the maritime industry and for climate-neutral power production.

“Through the Barents Blue project, Horisont Energi and project partners are in the process of creating a new global production region for clean ammonia on a par with the largest ammonia production regions in the world. Ammonia is one of the world’s most important industrial gases, and clean ammonia will therefore play an important role in the green transition and the low-carbon society.”
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

ASCO has assisted Horisont Energi in choosing a site for the onshore facility and has offered valuable support in Finnmark and made significant contributions during the process that led to Markoppneset in Hammerfest municipality as the preferred site for the company’s planned plant for the production of clean ammonia.

ASCO’s role will be to provide logistics and supply services within marine services, base and port services, materials management and control, transport and customs clearance, waste management, delivery of carriers and associated equipment, as well as other logistics-related services.

Author: KS

Source: Horisont Energi AS

Topic: Business | Ammonia Stocks

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