Aker Clean Hydrogen has signed a Memorandum of Understanding (MoU) with energy
infrastructure company CapeOmega to explore business opportunities within clean
hydrogen and ammonia, with a specific focus on developing the Aukra Hydrogen Hub
to a large-scale production facility of clean hydrogen.
 
The clean hydrogen produced in Aukra can be used to decarbonize local industrial
processes, provide emission-free fuel for sea and road transport, as well as
being exported to European hydrogen consumers.

The collaboration brings together CapeOmega's logistics and infrastructure
knowledge with Aker Clean Hydrogen's capabilities as a developer and future
operator of cost-effective hydrogen facilities. The companies also share an
ambition of developing new, improved and more cost-efficient technology for
clean hydrogen production and CO2 capture together with Aker Carbon Capture,
another Aker Horizons portfolio company.

"With their competence and capabilities within energy infrastructure in general,
and transmission of gases to European markets and emission reduction ambitions,
we are looking forward to exploring further opportunities with CapeOmega," said
Knut Nyborg, Chief Executive Officer of Aker Clean Hydrogen.

Earlier this year Aker Clean Hydrogen and Aukra municipality entered into a
cooperation agreement granting Aker Clean Hydrogen exclusive rights to explore
and develop a project for production of hydrogen, ammonia, and related products
in Aukra. 

"Aker Clean Hydrogen has a strong position in the growing Norwegian market for
industrial hydrogen and ammonia, and a unique position with their cooperation
agreement with Aukra municipality. We are excited to start exploring the Aukra
Hydrogen Hub opportunities together," said CapeOmega CEO Gisle Eriksen.

With natural gas from the local gas processing plant, the planned production
facility will split natural gas into hydrogen and CO2, where the latter will be
permanently stored. The project will also explore opportunities to produce green
hydrogen using potential increased access to renewable power in the area.

For additional information, please contact:
Mathias Reierth, media contact, +47 988 05 724, mathias.reierth@akerhorizons.com

Ivar Simensen, media contact, +47 46402317, ivar.simensen@akerhorizons.com 
Christian Yggeseth, investor contact, +47 915 10 000,
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

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