E.ON and Horisont Energi, a Norwegian clean energy company, partner over large-scale CO2 removal solutions

Visualization of the planned Errai storage

(PRESS RELEASE) ESSEN, 30-Nov-2022 — /EuropaWire/ — E.ON (ETR: EOAN), one of Europe’s largest operators of energy networks and energy infrastructure, has announced a new collaboration with Horisont Energi (EURONEXT: HRGI), a Norwegian clean energy company, aimed at intensifying their existing partnership to jointly build a European carbon value chain. To this extent, the two companies have signed a letter of intent, under which E.ON intends to provide more than one million tons of existing CO2 per year from its European customer sites by 2030, starting from 2027 with gradual increase. On the other hand Horisont Energi will provide services on CO2 marine transport and long-term storage. Subject to license award, Horisont Energi targets to start operation of the carbon capture and storage (CCS) project “Errai”, located in Norway. To this end, the development of a European carbon value chain shall apply proven and mature technologies for capture, transport and storage of CO2 on an industrial scale.

The agreement is an important milestone in the cooperation between the two partners and for Horisont Energi’s commercial CO₂ transport and storage business. With this, both Horisont Energi and E.ON position themselves as key players and Errai as a key project in the decarbonization of European industry and cities. Horisont Energi will apply for the announced license to operate the CO₂ storage Errai in the North Sea by early January 2023.

Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi: “It is great to take the next step towards a carbon neutral future together with our partner and shareholder E.ON. Decarbonization can only be achieved on a European scale, with integrated value chains and large-scale CO₂ removal solutions. Today’s agreement is a significant step, not only for the realization of the Errai project, but also for a carbon neutral European industry and society.”

Patrick Lammers, Member of the E.ON Board of Management: “We are very proud to be a pioneer in the field of industrial CO₂ circular economy together with Horisont Energi. With this next step we aim to extend our decarbonization solutions portfolio and make carbon capture and storage available to customers in Europe. For our industrial customers in particular, CCS technology will play a key role in achieving their net zero targets. As a partner to our customers, we stand ready to shape this path.”

Horisont Energi plans to store four to eight million tons of CO₂ annually in the first development phase of the Errai project, potentially storing more in later phases. The project includes an onshore terminal for intermediate CO₂ storage, with the intention to permanently store the CO₂ in an offshore reservoir. With the current plans the Errai project will develop the second CO₂ terminal in Norway. It was initiated by Horisont Energi in 2021, and CO₂ storage is expected to start in 2026.

Horisont Energi and E.ON entered a strategic cooperation agreement in January 2022 for the development of a Europe-wide range of services for the capture, transport and storage of carbon dioxide, and the establishment of corresponding value chains. Horisont Energi shall be responsible for transport and storage, E.ON for carbon capture and liquefaction. The service will be offered to both existing and new E.ON customers. Together with its customers in Europe, E.ON is thus decisively driving the decarbonization of European industry, business and municipalities.

About Horisont Energi
Horisont Energi (EURONEXT: HRGI) is a Norwegian clean energy company that will provide clean energy and carbon transport and storage services. The company will transform gas into cost-leading ammonia and hydrogen and offer 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

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to align them to future events or developments.

Media contact:

Spokesperson
Dr. Christian Drepper
christian.drepper@eon.com
tel:+49 151 16310889
https://www.linkedin.com/in/dr-christian-drepper-474603209/

SOURCE: E.ON SE