A new carbon removal business is set to be launched by Horisont Energy and E.ON, with the firms on Wednesday (12th Jan) inking a new deal for the development of an European end-to-end carbon capture, transport and storage service offering.
Each of the European companies will play to their strengths within the new entity, with E.ON taking responsibility for the carbon capture and liquefication side of things and Horrisont Energi being responsible for carbon dioxide (CO2) transportation and sequestration.
In addition to the focus on carbon capture, the duo has also agreed to focus on the production of clean hydrogen and ammonia – a market which is experiencing great growth.
To deliver the above, it has been agreed that E.ON will take a 25% stake in Horisont Energi.
Bjørgulf Haukelidsæter Eidesen, CEO of Horisont Energi, said, “We’re extremely excited to be joining forces with the leading European energy company E.ON to contribute to the energy transition in Europe.”
“With this agreement, we are entering a long-term strategic cooperation with E.ON, solidified by the company taking a 25% ownership stake in Horisont Energi. This will enable Horisont and E.ON to play a decisive role in the decarbonisation of key industrial sectors in Europe, whilst scaling up and commercialising CCS and clean ammonia.”
Patrick Lammers, member of the board of E.ON, added, “E.ON’s proposition in this market is to establish a comprehensive offering to our customers and partners by becoming a “one-stop-shop” for their decarbonisation activities as part of our growth strategy. It will enable E.ON to deliver a full outsourcing proposition to decarbonise, from site specific optimised carbon capture to secure long-term storage and clean hydrogen supply.”
“Collaborating with Horisont Energi will enable us to be a first mover in the future industrial carbon cycle business, that will be a key driver in European industrial and municipal decarbonisation in the second half of the decade”.