SANDNES, Norway, ROTTERDAM, Netherlands - August 5, 2021 - Horisont Energi
(EURONEXT: HRGI) and the Port of Rotterdam today announced that they have signed
a memorandum of understanding regarding setting up a corridor for transport of
blue ammonia from Norway to Rotterdam. 

According to the agreement, Horisont Energi and the Port of Rotterdam will
explore a collaboration to ship blue ammonia, produced in Northern Norway, from
natural gas with carbon capture and storage, to the port of Rotterdam, where it
will be received for further distribution to meet expected demand in
Northwestern Europe.

Final investment decision for the production of blue ammonia at the Barents Blue
project is expected towards the end of 2022. Blue ammonia could be shipped to
Rotterdam by 2025. Once operational, Barents Blue will have a production
capacity of 3000 tons of ammonia per day, or 1 million tons per year.

In addition to being a key industrial gas globally in the fertilizer and
chemical sector, ammonia is a very efficient hydrogen carrier. This makes net
zero CO2 emission ammonia one of the most promising fuels for decarbonization of
the shipping industry.

"We're excited to be working with the Port of Rotterdam to provide Europe with
clean hydrogen and ammonia, while at the same time opening up a new and
sustainable production region in the Barents Sea area for clean ammonia," says
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi. 

The port of Rotterdam is an energy hub port for western Europe, with some 13
percent of total energy demand in Europe entering the EU via Rotterdam. The Port
has the ambition to be net zero CO2 emission in 2050 while at the same time
maintaining its pivotal role in the European energy system. The demand in
Rotterdam is expected to be up to 20 million tons of hydrogen, equivalent to 100
million tons of ammonia, in 2050, according to Port of Rotterdam estimates.

"There's an important role for blue hydrogen if we want to realize the
international climate ambitions. This is because especially in the coming years,
there will not be enough green hydrogen to meet the demand. We'll need every
possible solution. We therefore focus not only on green but also on blue, just
as we don't only look at local production but also at imports", says Nico van
Dooren, director New Business at the Port of Rotterdam. 


Further information: 

Horisont Energi 
Investor relations 
Dan Jarle Flølo, CFO 
+47 901 13 159 
djf@horisontenergi.com 

Media Relations 
Marianne Stigset 
+47 41 18 84 82 
Marianne.Stigset@corpcom.no 

Port of Rotterdam
Media Relations
Sjaak Poppe
+31 6 224 66 553
s.poppe@portofrotterdam.com

About Horisont Energi
Energi Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy start-up
that provides clean energy and carbon storage services at industrial scale. The
company transforms gas into cost-leading clean ammonia and hydrogen, and offers
CO2 transportation and storage solutions 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/ 

About Barents Blue 
Barents Blue will provide Europe's first large-scale clean ammonia production.
Based on natural gas from the Barents Sea, it will include a world-scale clean
ammonia plant located in Finnmark in Northern Norway. Barents Blue will have a
production capacity of 3000 tons of ammonia per day once operational. During the
production process, carbon will be captured and transported by ship to the
Polaris reservoir for storage, with an estimated capacity in excess of 100
million tons below the seabed offshore Finnmark, which is equivalent to twice
Norway's annual greenhouse gas emissions. Currently entering the concept phase,
an investment decision for Polaris and the Barents Blue project is expected
towards the end of 2022.

About the Port of Rotterdam
The aim of the Port of Rotterdam Authority is to strengthen the competitive
position of the port of Rotterdam as a logistics hub and a world-class
industrial complex in terms of both size and quality. The Port Authority is able
and willing to make an impact and so it is focusing on accelerating
sustainability in the port and it is a partner in the digitalisation of the port
and logistics chains. The Port Authority's core tasks are the sustainable
development, management and operation of the port, the maintenance of the smooth
and safe handling of shipping and supporting the future-resilience of the port
of Rotterdam.

Port area: 12,500 hectares (land & water, including approximately 6,000 hectares
of industrial sites). The port area is more than 40 kilometres long. Employment:
(direct and indirect) 385,000 jobs in the Netherlands. Goods throughput:
approximately 440 million tonnes of goods a year. Shipping: approximately 30,000
seagoing vessels and 100,000 inland vessels annually. Added value: (direct and
indirect) EUR45.6 billion, 6.2% of Dutch GDP.