Sandnes, Norway - 9 March 2022 - Horisont Energi (EURONEXT: HRGI) today
announced that the Barents Blue project has accomplished key milestones during
the last few months to develop the ammonia factory in Hammerfest, Norway. Most
of the technical studies for the concept phase have been submitted to the
project, and Horisont Energi received political approval before Christmas for an
agreement with the municipality of Hammerfest for an option to use the site at
Markoppneset, and a public hearing for the zoning plan has been carried out.

As the operator of the ammonia facility in the Barents Blue project, Horisont
Energi has had a number of technical studies related to the design of the
factory performed. This includes two large concept studies in which the factory
has been specified by Saipem and Technip Engines, in cooperation with the Danish
technology company Haldor Topsoe. In addition, Multiconsult has completed a
study for the necessary infrastructure and preparation of the site. A study of
the gas pipeline for the transport of purchased natural gas to Markoppneset and
the transport of CO2 to the Polaris reservoir has been provided by Subsea 7. An
evaluation of the various alternatives is now carried out in order to make a
final concept decision. Meanwhile, the FEED studies are being prepared for the
next phase of the project, which will lead to a final investment decision.

On 9 December 2021, Hammerfest municipality decided to grant Horisont Energi
(Barents Blue ammonia factory) an option on parts of Hammerfest municipality's
Markopp property, corresponding to around 75 acres. The option means that a
contract will be signed with the municipality after the zoning plan has been
finally adopted and before the construction of the site is commenced.

The zoning plan is an important step for the Barents Blue project, and final
approval of the regulations must be completed before the preparation of the site
begins. Horisont Energi notified that the zoning process would start and
initiated a public hearing of the proposed zoning plan of the industrial area at
Markoppneset on 21 December 2021. All inputs from the hearing have now been
received, and a total of 20 consultation inputs were received. Horisont Energi
have reviewed the input with our partners and conduct a thorough process to
maintain the project's further progress.

These are all important milestones for Horisont Energi, leading to the
establishment of the factory. At Markoppneset, the factory will produce blue
ammonia from blue hydrogen, produced from clean water and natural gas with CO2
capture at record high levels, in synthesis with nitrogen separated from air. In
the production process, CO2 will be captured and transported for permanent
storage in the Polaris carbon storage facility off the coast of Finnmark,
Norway. Polaris is set to become the second commercial CO2 storage facility on
the Norwegian shelf. 

Barents Blue is a cooperation project with Equinor and Vår Energi.  

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

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/