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, anotherAker 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," saidKnut 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 CEOGisle 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.comIvar 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 theAker 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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