Horisont Energi and European energy company E.ON announced that they have entered into a strategic cooperation agreement for the development of an European end-to-end carbon capture, transport and storage service offering, development of a carbon removal business, and production and value chains for clean hydrogen and ammonia. Along with the agreement, Horisont Energi will carry out a private placement directed at E.ON, pursuant to which E.ON will acquire a 25% stake in Horisont Energi. The private placement is planned to be completed end of January 2022 subject to certain conditions.

See separate notice for further details on the conditional private placement. According to the cooperation agreement between the two companies, E.ON will take responsibility for the carbon capture and liquefaction, whilst Horisont Energi will be responsible for transport and sequestration of the carbon dioxide. The service will be offered to both existing and new customers of E.ON.

The two companies will also mature and develop a business built upon carbon dioxide removal. On December 14, 2021, the European Commission's vision for carbon removal was released. According to the Commission's plans the legal proposal for the EU's framework for carbon removal certification is due in the fourth quarter of 2022.

In conjunction to this, the two companies are also going to develop business models on clean ammonia production and supply.