SANDNES, Norway - 8 July 2022 - Horisont Energi (EURONEXT: HRGI) today announced
that the Barents Blue project has awarded an extended concept study contract to
Saipem, which will cooperate with technology licensor Haldor Topsoe to complete
the work.

The project partners, Horisont Energi, Equinor and Vår Energi, have decided to
perform additional and extended concept studies to mature and optimise the
ammonia factory further. Previously it has been announced that concept studies
for the clean ammonia factory planned at Markoppneset in Northern Norway have
been completed. Now more detailed work will be performed by Saipem and Haldor
Topsoe over the next three to four months, also providing valuable input into
the impact assessment studies that are currently ongoing.

"Horisont Energi is committed to the Barents Blue project, which has the
potential to be one of the most significant climate projects in Norway. This is
a complex project, and Horisont Energi is putting substantial resources and
project management experience into maturing the project in the best possible
way," says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

The core of the Barents Blue project is Europe's largest clean ammonia
production facility. The factory will produce ammonia based on natural gas from
the Barents Sea. During the production process, CO2 will be captured and
transported to an offshore reservoir called Polaris, where it will be
permanently stored beneath the seabed.

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

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 natural and renewable gases, 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.
www.horisontenergi.no 

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

Siri Melberg
+47 470 35 718
sm@horisontenergi.com