AKER HORIZONS ASA Aker Horizons ASA (the "Company" or "Aker Horizons ") today released its third-quarter results for 2021, and announces a series of transactions and initiatives: oAker Horizons to establish green industry inNorthern Norway - reached agreement with the municipality of Narvik to acquire land for the development of power-intensive green industries o Narvik region offers several benefits asAker Horizons' hub for activity inNorthern Norway with access to some ofEurope's lowest priced renewable energy, excellent transportation connections for export including road, rail and port facilities, as well as local communities committed to the energy transition oAker Horizons is in advanced discussions with a leading global financial services provider as potential anchor investor in aEUR 1 billion fund focused on infrastructure assets related to carbon capture, hydrogen and electrification o Net Asset Value ended atNOK 16.1 billion in the third quarter, compared withNOK 15.6 billion at the end of the second quarter andNOK 12.8 billion at time of listing onFebruary 1, 2021 "Aker Horizons contributes to reaching net zero by developing industrial-scale green value chains. Our dual mandate to maximize positive environmental impact and create shareholder value is empowered by industrial capabilities, scale and access to attractive financing. The initiatives announced today, including the establishment of green industries inNorthern Norway and progress made towards launching anEnergy Transition Fund , will expandAker Horizons' industrial footprint and access to long-term capital. The progress made in our portfolio companies and projects during the last quarter gives me confidence that we are on the right track to reach our goals and contribute toward collectively solving the climate challenge," saidKristian Røkke , CEO ofAker Horizons . Third-quarter highlights During the third quarter,Aker Horizons recorded industrial progress across the group as the portfolio companies continued to mature key renewable energy and decarbonization projects.Mainstream Renewable Power launched a new 1 GW hybrid wind and solar platform inChile , with a long-term bilateral private PPA signed with a strategic partner. Aker Offshore Wind was selected as preferred bidder in a floating offshore wind project inJapan together with Mainstream.Aker Clean Hydrogen launched Hegra together with Yara and Statkraft to develop a green ammonia facility removing 800,000 mtpa CO2. Aker Carbon Capture signed an MoU with Carbonor to collaborate on the production of low-emission char with Carbon Capture as a Service (CCaaS). During the quarter, Aker Carbon Capture also raisedNOK 840 million in a private placement. After the end of the quarter,Aker Horizons raisedNOK 1 billion from selling shares in Aker Carbon Capture toBaillie Gifford Overseas Limited and other institutional investors. Following the sale,Aker Horizons owns 42.33 percent of Aker Carbon Capture. TheAker Horizons share was included in the OSEBX index fromSeptember 17, 2021 .Aker Horizons' Net Asset Value (NAV) amounted toNOK 16.1 billion at the end of the third quarter, compared withNOK 15.6 billion at the end of the second quarter andNOK 12.8 billion when the company made its market debut onFebruary 1, 2021 . Developing green value chainsAker Horizons is deeply committed to its mission of being a leading investor and industrial developer of planet-positive companies and projects that solve fundamental challenges to sustainable existence. The Company today announces several strategic initiatives in the Narvik region to establish green value chains for power-intensive industries inNorthern Norway . Together with the local community,Aker Horizons aims to develop industrial activities that promote the company's planet-positive investment mission, converting renewable power into green jobs and sustainable export industries. Aker Narvik, a wholly-owned subsidiary ofAker Horizons , has reached an agreement with the municipality of Narvik to acquire two sites in Ballangsleira and Framneslia for a total consideration ofNOK 200 million . Further, Aker Narvik will investNOK 90 million through a private placement for 75 percent of the shares in Narvik Batteri AS, a company aiming to develop the Hergot site in Narvik for battery production. Today's announcements represent the beginning of major regional investments that will allowAker Horizons and its portfolio companies to develop entire value chains based on their capabilities across industries such as hydrogen, carbon capture and renewable energy, with possibilities to enter new segments such as battery production. See separate release for further details. Targeting to establish anEnergy Transition Fund Aker Horizons has matured the Green Yield concept announced at the second quarter and is now in advanced discussions with a leading global financial services provider as a potential anchor investor for aEUR 1 billion Energy Transition Fund managed byAker Horizons . The inaugural fund will focus on infrastructure assets related to carbon capture, hydrogen and electrification. Asset management for planet-positive investing has been identified as a potential new business segment. WithAker Horizons' access to projects, industrial capabilities and technology, the Company is positioned to generate attractive investment opportunities for institutional investors. Potential benefits forAker Horizons include the ability to scale positive environmental impact, access to long-term committed capital for projects, and value creation through a fee-based business model. ENDS Investor presentation and webcast The Q3 presentation is attached and can be downloaded on akerhorizons.com.Aker Horizons will present third-quarter results onOctober 26, 2021 at CET 09:30. The presentation will be broadcast as a webcast on the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20211026_3 Contact information Investor contact: Christian Yggeseth, +47 915 10 000, christian.yggeseth@akerhorizons.com Media contact:Ivar Simensen , +47 464 02 317, ivar.simensen@akerhorizons.com AboutAker Horizons Aker Horizons ASA is a planet-positive investment company dedicated to developing companies within renewable energy and other technologies that reduce emissions or promote sustainable living. The company is listed on theOslo Stock Exchange and majority-owned byAker ASA .Aker Horizons' investment portfolio includes in Aker Clean Hydrogen, Aker Offshore Wind,Aker Carbon Capture andMainstream Renewable Power .
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