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    ACH   NO0010936081

AKER CLEAN HYDROGEN AS

(ACH)
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Aker Clean Hydrogen: Second-Quarter Results 2021

07/12/2021 | 01:01am EDT
Aker Clean Hydrogen today published results for the second quarter and first
half of 2021, showing the company has taken decisive steps towards realizing its
ambition to accelerate clean energy by producing clean hydrogen safely and
affordably. 

"In just a few months, we have established projects and prospects with net
capacity of more than 1.7 GW in Norway, Chile and Uruguay, so we are heading
steadily towards our 2030 target of reaching 5 GW net installed capacity," said
Knut Nyborg, Chief Executive Officer of Aker Clean Hydrogen. 

Highlights in the second quarter included:

o	Maturing the Herøya project together with partners Yara and Statkraft, to
develop a green ammonia facility located at Yara's fertilizer plant. Remove
about 800,000 tonnes CO2 p.a. 
o	Completing feasibility study and concept phase for the Berlevåg project
together with Varanger Kraft and establishing a joint venture company. Utilizing
local wind resources, the Berlevåg project has the potential to decarbonize
shipping in the Arctic.
o	Signing Memorandum of Understanding with CapeOmega and, as announced
separately today, Shell, to jointly develop the Aukra Hydrogen Hub in Norway. 
o	Building the Aker Clean Hydrogen organization by recruiting talent from Aker
companies and externally.

Financial result and outlook

Revenue for the first half of 2021 was NOK 1 million and operating loss was NOK
60 million, reflecting costs related to the start-up of the company, building
the organization and developing the global projects and prospects. In addition,
the company had costs related to the operational development including
standardization, digitalization, project execution model and supply chain. The
cash balance at the end of the period was NOK 2 828 million.

Hydrogen has the potential to replace fossil-based solutions across several
industries, from transport to agriculture. Market fundamentals, reflected in
recent record high prices for ETS quota prices, remain supportive of further
growth. The ETS price has risen 170 percent to more than 58 euros per tonne in
the past 12 months.

"We are maturing dialogues with large offtakers, infrastructure companies and
renewable energy providers and expect to grow our pipeline as well as existing
prospects and projects over the coming quarters," said Nyborg.

The company today also published its first-half report, which is attached and
available on akercleanhydrogen.com. 

ENDS

Aker Clean Hydrogen will present the results in a live webcast, followed by a
Q&A session, today at CET 0930 via:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210712_4 

Media contact:
Ivar Simensen, +47 464 02 317, email: ivar.simensen@akerhorizons.com
Investor contact:
Christian Yggeseth, mob: +47 915 10 000, email:
christian.yggeseth@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, digitization 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.
www.akercleanhydrogen.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
AKER CLEAN HYDROGEN AS -1.78% 6.798 Real-time Quote.0.00%
AKER HORIZONS ASA 0.80% 35.13 Real-time Quote.0.00%
All news about AKER CLEAN HYDROGEN AS
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07/12ROYAL DUTCH SHELL : Shell's Unit To Develop Hydrogen Hub In Norway
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07/12AKER CLEAN HYDROGEN : Shell Joins Aukra Hydrogen Hub Project
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07/12Aker Clean Hydrogen Reports Earnings Results for the First Half of 2021
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07/12Aker Clean Hydrogen and Capeomega Signs A Memorandum of Understanding with AS Norske Sh..
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07/06AKER CLEAN HYDROGEN : Presentation of Q2 2021 results
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More news
Financials
Sales 2021 - - -
Net income 2021 -5,32 M -6,20 M -6,20 M
Net cash 2021 287 M 334 M 334 M
P/E ratio 2021 -58,9x
Yield 2021 -
Capitalization 480 M 559 M 559 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 22,5%
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Mean consensus BUY
Number of Analysts 3
Last Close Price 6,80 NOK
Average target price 16,00 NOK
Spread / Average Target 135%
EPS Revisions
Managers and Directors
Knut Nyborg Chief Executive Officer
Kristoffer Dahlberg Chief Financial Officer
Karl Johnny Hersvik Chairman
Armand Breuer Chief Technology Officer
Kjell Inge Røkke Director
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