HEGRA: New Ownership

OSLO, Norway, March 29, 2022 /PRNewswire/ -- HEGRA was launched in 2021 as a collaborative project between Yara, Aker Clean Hydrogen and Statkraft, with the aim of electrifying Yara's ammonia plant at Herøya in Norway, removing annual CO2 emissions of 800,000 tonnes.

An integrated team has collaborated over the past year to mature the project in an early phase. The recently completed feasibility study shows that HEGRA is feasible, but due to commercial and strategic reasons there is no basis for continuing the project under the current ownership structure. Work on HEGRA will be continued by Yara without Aker Clean Hydrogen and Statkraft as part-owners.

Each of the companies will continue to promote hydrogen production and demand in Norway and internationally, and the companies are still open to cooperating in parts of the value chain.

Going forward, Statkraft and Aker Horizons will seek to develop further green hydrogen and ammonia projects together.

For further information, please contact:

Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, christian.yggeseth@akerhorizons.com

Ivar Simensen, Communications, Tel: +47 46 40 23 17, ivar.simensen@akerhorizons.com

Mathias Nilsen Reierth, Tel: +47 988 05 724, mathias.reierth@akerhorizons.com

About Aker Clean Hydrogen

Aker Clean Hydrogen aims to develop, build, own and operate clean hydrogen production on an industrial scale. Aker Horizons is the majority shareholder of the company, and Aker Clean Hydrogen uses domain expertise across the Aker group, including systems integration, engineering, technology development, project implementation, digitalization and financial optimization to increase efficiency and reduce project costs. The company aims to reach a net installed capacity of 5 GW by 2030, and will make a major contribution to realizing the hydrogen industry and reducing greenhouse gas emissions globally.

IMPORTANT NOTICE

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements in

Regulation EU 596/2014 and the Norwegian Securities Trading Act § 5-12. This

stock exchange announcement was published by Ivar Simensen, Communications, Aker

Horizons on 29 March 2022 at CET 08:00.

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https://news.cision.com/aker-clean-hydrogen/r/hegra--new-ownership,c3534350

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