· Aker Clean Hydrogen to develop, build, own, and operate clean hydrogen
production at scale, leveraging domain expertise across Aker group
  · Cooperation with Statkraft and Yara to establish Europe's first industrial
-scale green ammonia project in Norway - the 450 MW Herøya plant
  · Partnering with Mainstream Renewable Power to unlock the green hydrogen and
ammonia economy in Chile and with Aker BioMarine to enable emission free
shipping in Antarctica
  · Portfolio of nine projects and prospects with total net capacity of 1.3 GW
in development
  · Aims to reach a net installed capacity of 5.0 GW and to remove more than 9
million tonnes of CO2 per year by 2030

Aker Horizons AS ("Aker Horizons") announces the launch of a new platform
company, Aker Clean Hydrogen, a pure-play industrial clean hydrogen producer to
serve a fast-growing global market. With a proven execution model and unique end
-to-end asset integration and optimalization capabilities, Aker Clean Hydrogen
aims to emerge as the most efficient hydrogen value chain integrator on a global
scale.

"The industrialization of hydrogen production is starting now. With the launch
of Aker Clean Hydrogen, Aker Horizons is creating the first pure-play operator
within industrial-scale clean hydrogen production, addressing a massive market
poised for global growth, with an opportunity to have a significant impact on
CO2 reductions," says Kristian Røkke, Chief Executive Officer of Aker Horizons.

Aker Clean Hydrogen has a portfolio of nine clean hydrogen projects and
prospects with a total net capacity of 1.3 GW under development, and additional
pipeline and opportunities of 4.7 GW. Based on a proven execution model with
scalability, the company aims to reach a net installed capacity of 5.0 GW by
2030.

The portfolio includes the recently announced partnership with Norwegian
industrial pioneers, Yara and Statkraft, for electrification of the
ammonia plant at Herøya, as well as other green ammonia projects in Norway. The
first project at Herøya has potential to remove about 800,000 tonnes of annual
greenhouse gas (GHG) emissions, representing what could be the largest climate
initiative in Norwegian industrial history. The partnership also forms the basis
for what could become a new green export industry by producing emission-free
ammonia for CO2-intensive industries, including green fertilizer for the
agriculture industry and emission-free shipping.

Additional portfolio projects and prospects include:

  · Emission-free shipping in the Arctic: A new green ammonia facility in
Berlevåg for decarbonizing Arctic shipping and off-grid power production, where
conversion of the coal-fired power plant in Longyearbyen could be one of the
first targets by 2025. Aker Clean Hydrogen and Varanger Kraft to each own 50
percent of the green ammonia facility.
  ·
  · Green hydrogen production in Rjukan: Enabling emissions-free ferry and
shipping transportation. To be developed jointly with the Tinn municipality and
Rjukan Næringsutvikling in southern Norway. Aker Clean Hydrogen owns 100 percent
of the planned facility.
  ·
  · Cooperation agreement with Greenstat: Including near-term opportunities at
Glomfjord and Meråker in Norway, and a strategic initiative in India.
  ·
  · Green hydrogen and ammonia production in Chile: Collaboration between Aker
Clean Hydrogen and Mainstream Renewable Power to develop a global scale and
commercially viable green value chain in Chile with a significant export
potential.
  ·
  · Emission-free shipping in the Antarctica: Development of a new green ammonia
facility in Uruguay in collaboration with Aker BioMarine as an enabler for a
future zero-emission value chain for Aker BioMarine. The project is also aiming
at the wider shipping market in that region.

Aker Clean Hydrogen aims to accelerate learning curves and efficiency
improvements to enable hydrogen production at 1.5 USD/kg by the end of this
decade.

"Clean hydrogen is essential to decarbonize industrial processes. By building on
the network effects from Aker Horizons' green value chain, unique capabilities
of in-house engineering experts, proven execution and alliance model, and Aker's
track record of developing modularized industrial production systems, Aker Clean
Hydrogen is hitting the ground running. This is just the beginning of a journey
to develop the best-in-class, cost-efficient leader for industrial-scale
hydrogen production," says Knut Nyborg, CEO of Aker Clean Hydrogen.

Funding and Financing

In order to finance the high number of highly attractive investment
opportunities it sees in Aker Clean Hydrogen, Aker Horizons is currently in the
process of preparing for a potential near-term private placement in Aker Clean
Hydrogen (the "Private Placement") and a listing on Euronext Growth (the
"Listing", and together with the Private Placement, the "IPO").  The Private
Placement is expected to have a minimum subscription of EUR 100,000. Aker
Horizons will seek to facilitate that its shareholders are provided with
preferred allocation in the Private Placement. Aker Horizons plans to
participate in the Private Placement and also invest in Aker Clean Hydrogen
through potential equity-linked instruments.

Carnegie, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS have been
engaged to assist on the potential IPO of Aker Clean Hydrogen, which is subject
to inter alia market conditions and investor feedback. Advokatfirmaet BAHR acts
as legal advisor for the potential IPO.

Aker Horizons will host a presentation about Aker Clean Hydrogen and its
ambitions in the global hydrogen market today, February 19 at 11:00
CET. https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210219_10

A Company Presentation, providing more information about Aker Clean Hydrogen,
can be found at https://www.akerhorizons.com/investors



-ENDS-

Contact:

Ivar Simensen, Communication, +47 46402317, ivar.simensen@akerhorizons.com

About Aker Horizons

Aker Horizons is a planet-positive investment company dedicated to developing
companies within renewable energy and other technologies that reduce emissions
or promote sustainable living. The company is listed on Euronext Growth and
majority-owned by Aker ASA. Aker Horizons' investment portfolio includes
majority stakes in Aker Offshore Wind and Aker Carbon Capture, and on January
19, 2021, the company announced an agreement to buy 75 percent of Mainstream
Renewable Power, a developer and operator of wind and solar parks.

About Aker Clean Hydrogen

Aker Clean Hydrogen is set up to develop, build, own, and operate clean hydrogen
production at industrial scale. The company is owned by Aker Horizons, and
leverages the domain expertise across the Aker group, including system
integration, engineering, technology development, project execution,
digitalization and financial optimization to drive efficiency and reduce cost.
The company aims to reach net installed capacity of 5.0 GW by 2030, making a
major contribution towards realizing the hydrogen industry and reducing
greenhouse gas emissions globally.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.