Today the company HEGRA is launched at Herøya, Porsgrunn, with former Statnett
CEO, Auke Lont as Chairman. The company aims to electrify and decarbonize the
ammonia plant at Herøya, enabling large-scale green ammonia production. «HEGRA»
is short for HErøya GReen Ammonia, and is co-owned by Yara, Aker Clean Hydrogen
and Statkraft each owning 1/3. 

"Aker, Yara and Statkraft have established HEGRA with the ambition of creating
new industry in Norway that provides a competitive advantage in a growing global
hydrogen economy, establishes green jobs for the future and forms the basis for
a future Norwegian export industry," says CEOs Svein Tore Holsether, Øyvind
Eriksen and Christian Rynning-Tønnesen in Yara, Aker and Statkraft,
respectively, in a joint statement.

Green ammonia, produced using renewable energy, would enable the production of
carbon-free fertilizer, and is a promising zero-emission fuel for the maritime
sector. HEGRA will contribute to creating a new industry based on a regional
hydrogen and ammonia market, whilst ensuring the survival and competitiveness of
the Norwegian maritime and processing industries.

"HEGRA is more than a new industrial company, it is Norway's largest climate
initiative. The decarbonization project will reduce CO2-emissions by 800,000
tonnes annually, equivalent to 300,000 fossil-fueled cars. It marks the
beginning of developing a Norwegian value chain for green ammonia and hydrogen,"
says Auke Lont, Chair of HEGRA's Board.  

The maritime and processing industries in Norway are important export industries
and comprises more than 100,000 jobs. HEGRA will contribute to securing and
creating jobs in new supply chains and through ripple effects that these
industries create.

The costs of emissions in the processing industry are expected to increase in
the international market as a result of regulations and customer demands. To
achieve the necessary emission reductions, the Norwegian industry and maritime
sector need access to clean hydrogen and ammonia. 

HEGRA brings together Norway's foremost experts in ammonia, project development
and energy markets. Provided that power is available at site and the required
public co-funding is in place, the project could be realized already 5-7 years
from now.

"HEGRA is geared specifically at meeting the ambition of the European
Commission's «Fit for 55» package, which aims to reduce EU emissions by 55 per
cent by 2030. HEGRA will give Norway a competitive advantage within renewable
energy and hydrogen and put Norway in a great position to reach climate
ambitions," says Lont.

The Norwegian maritime industry is set to cut their emissions in half by 2030.
Access to emission-free fuel will be key to reach this goal. The existing global
infrastructure for ammonia will facilitate Norwegian green ammonia to become a
global commodity immediately. With renewable energy in abundance, Norway is in a
good position to capture a large share of the emerging global green hydrogen and
ammonia value chain.

A report published in 2020 by The Confederation of Norwegian Enterprise found
that the hydrogen industry can become a significant Norwegian export industry,
with an estimated turnover of NOK 10 billion in 2030 and NOK 70 billion in 2050.


"The timing of HEGRA is important because it will be key to establish a
well-functioning domestic and regional market before the global demand for
ammonia increases. We look forward to engaging with authorities and the industry
on how to realize one of the first large-scale industrial projects within green
hydrogen and ammonia in Norway," says Lont.

HEGRA is launched at Adminiet in Porsgrunn at the Herøya Industrial site today,
16 August at 11 CET by the CEOs Svein Tore Holsether (Yara), Øyvind Eriksen
(Aker), Christian Rynning-Tønnesen (Statkraft), incoming Chairman of the Board
Auke Lont and a panel consisting of, among others, Ole Erik Almlid (NHO) and
Peggy Hessen Følsvik (LO). There will be opportunities for press interviews
after the event. The launch can also be followed live from 11.15 CET via:
www.prosjekthegra.no (NB event in Norwegian).

For further information, please contact:
Yara: 			Josiane Kremer: Josiane.kremer@yara.com 
Aker Clean Hydrogen:	Ivar Simensen: ivar.simensen@akerhorizons.com
Statkraft: 		Geir Fuglseth: geir.fuglseth@statkraft.com