Sandnes, Norway - 28 April 2022 - On behalf of Horisont Energi (EURONEXT: HRGI)
and the Barents Blue project, the consulting engineering company Multiconsult
has completed a geotechnical survey campaign at Markoppneset, in the Norwegian
municipality of Hammerfest.

Horisont Energy has selected Markoppneset in Repparfjorden as the most promising
location for the Barents Blue Project. Geotechnical site and nearshore
investigations confirm the site selection and the feasibility of the chosen
site. As part of Multiconsult's scope, extensive geotechnical onshore and
nearshore soil investigations have been carried out during the winter of
2021/2022, together with seabed mapping nearshore. Geotechnical design studies
of the site were also conducted. The result from the work remains positive,
confirming that the area is fully suitable for the Barents Blue ammonia plant. 

"The Multiconsult geotechnical mapping of the Markoppneset site demonstrates
that we are on track with the development of Barents Blue. This gives us the
assurances we need regarding the quality of the factory site," says Horisont
Energi CEO Bjørgulf Haukelidsæter Eidesen.

A large area of approximately 400.000 m2 is needed for the plant, and
Markoppneset is a suitable location for this purpose, with fairly flat
topography and ample space for future expansion, according to the civil studies
performed by Multiconsult. The location also has solid access road and airport
connections both to Alta and Hammerfest. The area's proximity also allows for
the needed technical infrastructure and suitable freshwater sources. 

Repparfjorden is sheltered, while at the same time providing sufficient space
for manoeuvring, anchoring and waiting for efficient product handling.
Year-round safe marine operations have been demonstrated at the Snøhvit LNG
facility for more than a decade, and this experience and maritime expertise in
Hammerfest document the feasibility and is also expected to provide synergies
for marine operations and tugs for Barents Blue. 

"We have been able to provide experience and expertise from all of Multiconsult,
including local engineering knowledge at our office in Alta. Based on our 50
years of experience with terminal projects of this size in Norway, including
Finnmark, we consider Horisont's choice to provide an optimum site selection for
the Barents Blue project," says Arnor Jensen, regional director of Multiconsult.


Optimization of site preparation involves management of soil and rock materials
on a large scale. The excavated soil materials must be moved, while all
excavated rock, including those from establishment of tunnels and caverns, will
be reused on-site. Quality rock fill will to a certain extent be brought into
the site to prepare and level the area to the planned elevation.  

The plant concept at Markoppneset includes cavern storage of liquid ammonia. The
site is well suited for such storage. Following the findings in the site
surveys, further optimisation studies are planned for cavern storage in the next
phase. 

Being planned in cooperation with Equinor and Vår Energi, Barents Blue will
produce ammonia from water, renewable energy, and natural gas, with CO2 being
captured and permanently stored in an offshore reservoir called Polaris. Ammonia
is both a major industrial gas and a potent energy carrier due to its high
hydrogen content which can be used as a fuel directly.


For information please contact: 
Bjørgulf Haukelidsæter Eidesen 
+47 990 36 892 
bhe@horisontenergi.com 

Siri Melberg 
+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 company was founded in
2019 and is headquartered in Sandnes, Norway. https://www.horisontenergi.no/