SANDNES, Norway - 26 August 2022 - Today, Horisont Energi (EURONEXT: HRGI)
reports its first half and second quarter 2022 results.

"Horisont Energi progressed our pioneering projects during the second quarter
that will accelerate the transition to carbon neutrality when realised. The
Barents Blue project has matured with several studies underway or completed. We
are also excited to announce that our cooperation with Koole Terminals for the
development of a terminal in the Port of Rotterdam will have a wider scope and
include both clean ammonia and CO2 storage. This fits well with our strategic
cooperation agreement with E.ON, signed during the first half of 2022, for the
development of a European end-to-end carbon capture, transport and storage
service offering," says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

As the Barents Blue clean ammonia project in Hammerfest continues to mature, the
associated Polaris offshore CO2 storage was licensed during the second quarter.
Polaris will store CO2 from the clean ammonia plant Barents Blue. 

In addition, Horisont Energi plans to develop a green ammonia plant in Finnmark,
Northern Norway, with the Finnish company St1, with the ambition of producing
green ammonia based on renewable energy.

"The concept involves hydrogen production based on electrolysis of water using
new renewable energy and other forms of renewable energy. We are currently
evaluating potential plant site locations with our partner in several
municipalities in Finnmark," Eidesen adds.

Horisont Energi is in a project development phase and consequently had no
income, while the net loss was NOK 31.0 million in the second quarter of 2022.
The company has a solid financial position with NOK 458 million in cash. 

«We continue to be both time and cost efficient in developing pioneering
projects that will accelerate the transition to carbon neutrality. Given the
turmoil and war in Europe, and also the energy crisis, the company finds itself
in a strong financial position that allows us to continue to deliver according
to our plans, says Eidesen.

Please find the first half and second quarter 2022 report attached. 

Horisont Energi will present its financial results for the first half of 2022
today at 08:00 CEST. The presentation will be in English, and questions can be
submitted throughout the event. Link to the webcast:
https://channel.royalcast.com/landingpage/hegnarmedia/20220826_3/

For further information, please contact:
Dan Jarle Flølo, CFO
+47 901 13 159
djf@horisontenergi.com

Media Relations
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 headquarter