ESA approves state aid for Barents Blue Project

21. September 2022

Horisont Energi (EURONEXT: HRGI) is pleased that EFTA Surveillance Authority (ESA) today has approved the grant of NOK 482 million for the Barents Blue project under the IPCEI Hydrogen program, also known as Hy2Use.

The decision is taken in parallel with the European Commission, which today approved 35 such projects in 13 EU States as part of an “important project of common European interest” (IPCEI). IPCEIs are large projects that address a market failure or other important systemic failures in a European context based on common European interests.

Norway is a part of the European Economic Area and participates to the IPCEI Hy2Use. Enova manages the participation of Norwegian companies in the initiative. In December 2021, Barents Blue Project was awarded NOK 482 million from Enova conditional on the final approval from ESA and the EU that was given today.

“This final confirmation of the IPCEI award confirms the potential and innovative nature of the Barents Blue project. Blue ammonia, produced from natural gas with carbon capture, can be scaled up rapidly and contribute significantly to decarbonizing European industry and transportation, while we also work in the longer-term on green ammonia and hydrogen from renewable sources,” says Horisont Energi’s CEO Bjørgulf Haukelidsæter Eidesen.

Equinor and Vår Energi are partners in the Barents Blue project.

In a press release, ESA President Arne Røksund stated: “State aid to industry engaged in developing new technologies is crucial if Europe is to succeed in its Green Transition. Enabling and allowing the private and public sectors to walk hand in hand in unlocking the potential of clean hydrogen will play a central role in this effort.”

Read the ESA press release here.

For further information, please contact:

Horisont Energi

Bjørgulf Haukelidsæter Eidesen

+47 990 36 892

Siri Melberg

+47 470 36 718