Aker Horizons has launcheed new platform Aker Clean Hydrogen to industrialize clean hydrogen and reduce CO2 emissions globally.
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.”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:
• Emission-free shipping in the Arctic: A new green ammonia facility in Berlevåg for decarbonizing Arctic shipping and off-grid power production, where conversion of the coal-fired power plant in Longyearbyen could be one of the first targets by 2025. Aker Clean Hydrogen and Varanger Kraft to each own 50 percent of the green ammonia facility.
• Green hydrogen production in Rjukan: Enabling emissions-free ferry and shipping transportation. To be developed jointly with the Tinn municipality and Rjukan Næringsutvikling in southern Norway. Aker Clean Hydrogen owns 100 percent of the planned facility.
• Cooperation agreement with Greenstat: Including near-term opportunities at Glomfjord and Meråker in Norway, and a strategic initiative in India.
• Green hydrogen and ammonia production in Chile: Collaboration between Aker Clean Hydrogen and Mainstream Renewable Power to develop a global scale and commercially viable green value chain in Chile with a significant export potential.
• Emission-free shipping in the Antarctica: Development of a new green ammonia facility in Uruguay in collaboration with Aker BioMarine as an enabler for a future zero-emission value chain for Aker BioMarine. The project is also aiming at the wider shipping market in that region.
“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.”Knut Nyborg, CEO of Aker Clean Hydrogen.
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 and a listing on Euronext Growth. The Private Placement is expected to have a minimum subscription of €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 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.