SANDNES, NORWAY - 10 December, 2021 - Horisont Energi AS (EURONEXT: HRGI) and
the Finnish energy company Helen have signed a memorandum of understanding for
cooperation in the areas of hydrogen economy and carbon storage. The companies
are jointly exploring the capture of carbon dioxide from power plant flue gases
and the utilization, logistics and storage of the recovered carbon dioxide.

"Carbon dioxide is a climate-warming greenhouse gas, but it can also be utilised
as a raw material for various products. Among other things, carbon dioxide can
be used to manufacture chemical industry products or carbon-neutral fuels for
transport," explains Tuukka Hartikka, Business Lead, Renewable Hydrogen and PtX
from Helen.

"Industrial decarbonization is central to reaching net-zero emission targets and
cost effective carbon value chains will be a key component in achieving this.
Horisont Energi aims to provide cost-leading carbon storage across the Norwegian
Continental Shelf in the coming years and the collaboration with Helen is an
important step in opening up our activities further toward 3rd party carbon
storage," says Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi.

Horisont Energi is participating in the EU Hydrogen IPCEI (Important Projects
for Common European Interest) call with its world-scale clean ammonia project in
Northern Norway. The objective of the hydrogen IPCEI is to create value chains
related to the production and use of hydrogen and enable sufficient funding for
these important projects. Helen is involved in supporting Horisont Energi's
project.

Power to X - a step towards a carbon-neutral society

Emission-free electricity, such as solar or wind power, can be used for
manufacturing carbon neutral products, collectively often referred to as "Power
to X". For example, various raw materials for the chemical industry can be
produced using carbon capture and renewable hydrogen. These Power to X projects
will require vast amounts of emission-free energy, and new business
opportunities are emerging for Finland along with the projects. The growth of
emission-free energy, particularly wind power, creates a competitive advantage
for Finland. The production of carbon neutral energy and customer solutions also
feature strongly in Helen's strategy. For example, the Lakiakangas 3 wind farm,
to be completed in January, will increase Helen's wind power production
fivefold.

"Carbon neutrality is just the beginning