SANDNES, Norway - 25 May 2022 - Today Horisont Energi (EURONEXT: HRGI) reports
its first-quarter results. 

«The first quarter of 2022 got off to a thrilling start for the Horisont Energi
team. In early January, Horisont Energi and the European energy company E.ON
entered into a strategic cooperation agreement for the development of a European
end-to-end carbon capture, transport, and storage service offering, including
development of a carbon removal business, value chains for clean hydrogen and
ammonia. Along with the agreement, Horisont Energi conducted a private placement
directed at E.ON, resulting in E.ON acquiring a 25 percent stake in Horisont
Energi," says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

During the first quarter, the company continued to mature the Barents Blue clean
ammonia project in Hammerfest in Northern Norway. Shortly after the end of the
quarter, the associated Polaris offshore CO2 storage was licensed.

"This award was an important milestone in developing carbon storage as a major
green industry in Norway. We will store CO2 from the ammonia production at
Barents Blue and potentially offer capacity for third party use. We are looking
further into developing additional carbon storage assets offshore in Norway," Mr
Eidesen adds.

In addition to Barents Blue and Polaris, Horisont Energi plans to develop a
green ammonia plant in Finnmark with the Finnish energy company St1. The goal is
to produce green ammonia based on renewable energy.

Horisont Energi is in a project development phase and consequently had no income
in the first quarter of 2022. The net loss was NOK 35.0 million. The company has
a solid financial position with NOK 486 million in cash. 

Please find the first quarter 2022 report attached. 

Horisont Energi will present its financial results for the first quarter of 2022
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/20220525_2/


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 headquartered in Sandnes, Norway. https://www.horisontenergi.no/