Norwegian clean energy company Horisont Energi has forged a strategic partnership with an undisclosed technology company to advance CCS project development in Europe.
This collaboration aims to create end-to-end CCS solutions, with Horisont Energi poised to become the project developer and operator.
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Earlier this year, Horisont Energi restructured its operations into three subsidiaries: Horisont Ammoniakk, Horisont Karbon and Horisont Infra.
This move was designed to streamline industrial partnerships and foster pure play collaborations.
The new CCS initiative will be undertaken through Horisont Karbon.
Horisont Energi co-CEOs Bjorgulf Haukelidsæter Eidesen and Leiv Kallestad said: “We are now seeing the effect of the significant competence, know-how and organisational capabilities Horisont Energi has built within CCS over the last five years.
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By GlobalData“Our collaboration with a company with trusted experience, innovative technologies and execution capabilities will facilitate new market entries, strengthen and complement our capabilities, and contribute to the development of new pioneering projects in Europe.”
The collaboration is also expected to enhance value creation for Horisont Energi’s Norwegian ventures and support risk mitigation strategies, which are crucial for the successful realisation of these projects.
CCS technology is acknowledged as a key component in reducing CO₂ emissions and is pivotal for meeting climate goals. The process consists of three main steps: capturing the CO₂ generated by power generation or industrial activities, such as hydrogen production, steel manufacturing or cement production; transporting the captured CO₂; and permanently storing it deep underground.
The European market for CCS shows considerable potential, and the development of coordinated value chains and frameworks is essential.
These frameworks are intended to align the timelines of all stakeholders involved in the CCS process, from carbon capture to sequestration, the company said.
