OSLO, Norway, Feb. 19, 2021
OSLO, Norway, Feb. 19, 2021 /PRNewswire/ -- Aker Horizons AS ("Aker Horizons") announces the launch of a new platform company, Aker Clean Hydrogen, a pure-play industrial clean hydrogen producer to serve a fast-growing global market. With a proven execution model and unique end-to-end asset integration and optimalization capabilities, Aker Clean Hydrogen aims to emerge as the most efficient hydrogen value chain integrator on a global scale.
"The industrialization of hydrogen production is starting now. With the launch of Aker Clean Hydrogen, Aker Horizons is creating the first pure-play operator within industrial-scale clean hydrogen production, addressing a massive market poised for global growth, with an opportunity to have a significant impact on CO2 reductions," says Kristian Røkke, Chief Executive Officer of Aker Horizons.
Aker Clean Hydrogen has a portfolio of nine clean hydrogen projects and prospects with a total net capacity of 1.3 GW under development, and additional pipeline and opportunities of 4.7 GW. Based on a proven execution model with scalability, the company aims to reach a net installed capacity of 5.0 GW by 2030.
The portfolio includes the recently announced partnership with Norwegian industrial pioneers, Yara and Statkraft, for electrification of the ammonia plant at Herøya, as well as other green ammonia projects in Norway. The first project at Herøya has potential to remove about 800,000 tonnes of annual greenhouse gas (GHG) emissions, representing what could be the largest climate initiative in Norwegian industrial history. The partnership also forms the basis for what could become a new green export industry by producing emission-free ammonia for CO2-intensive industries, including green fertilizer for the agriculture industry and emission-free shipping.
Additional portfolio projects and prospects include:
Aker Clean Hydrogen aims to accelerate learning curves and efficiency improvements to enable hydrogen production at 1.5 USD/kg by the end of this decade.
"Clean hydrogen is essential to decarbonize industrial processes. By building on the network effects from Aker Horizons' green value chain, unique capabilities of in-house engineering experts, proven execution and alliance model, and Aker's track record of developing modularized industrial production systems, Aker Clean Hydrogen is hitting the ground running. This is just the beginning of a journey to develop the best-in-class, cost-efficient leader for industrial-scale hydrogen production," says Knut Nyborg, CEO of Aker Clean Hydrogen.
Funding and Financing
In order to finance the high number of highly attractive investment opportunities it sees in Aker Clean Hydrogen, Aker Horizons is currently in the process of preparing for a potential near-term private placement in Aker Clean Hydrogen (the "Private Placement") and a listing on Euronext Growth (the "Listing", and together with the Private Placement, the "IPO"). The Private Placement is expected to have a minimum subscription of EUR 100,000. Aker Horizons will seek to facilitate that its shareholders are provided with preferred allocation in the Private Placement. Aker Horizons plans to participate in the Private Placement and also invest in Aker Clean Hydrogen through potential equity-linked instruments.
Carnegie, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS have been engaged to assist on the potential IPO of Aker Clean Hydrogen, which is subject to inter alia market conditions and investor feedback. Advokatfirmaet BAHR acts as legal advisor for the potential IPO.
Aker Horizons will host a presentation about Aker Clean Hydrogen and its ambitions in the global hydrogen market today, February 19 at 11:00 CET. https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210219_10
A Company Presentation, providing more information about Aker Clean Hydrogen, can be found at https://www.akerhorizons.com/investors
About Aker Horizons
Aker Horizons is a planet-positive investment company dedicated to developing companies within renewable energy and other technologies that reduce emissions or promote sustainable living. The company is listed on Euronext Growth and majority-owned by Aker ASA. Aker Horizons' investment portfolio includes majority stakes in Aker Offshore Wind and Aker Carbon Capture, and on January 19, 2021, the company announced an agreement to buy 75 percent of Mainstream Renewable Power, a developer and operator of wind and solar parks.
About Aker Clean Hydrogen
Aker Clean Hydrogen is set up to develop, build, own, and operate clean hydrogen production at industrial scale. The company is owned by Aker Horizons, and leverages the domain expertise across the Aker group, including system integration, engineering, technology development, project execution, digitalization and financial optimization to drive efficiency and reduce cost. The company aims to reach net installed capacity of 5.0 GW by 2030, making a major contribution towards realizing the hydrogen industry and reducing greenhouse gas emissions globally.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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