Aker Horizons

Aker Horizons released its second quarter 2024 results today, reporting:  ➡ Net capital employed at NOK 7.1 billion, an increase of NOK 1.9 billion from Q1, mainly driven by a gain from the Aker Carbon Capture-SLB transaction  ➡ Cash position of NOK 3.1 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 8.8 billion   What were the main developments that marked our portfolio in the quarter? ✅ Aker Carbon Capture ASA completed the transaction to combine its carbon capture business with SLB, with ACC ASA receiving NOK 4.1 billion in cash consideration ✅ Mainstream Renewable Power delivered on its strategy in Australia and Sweden, while the Andes Renovables platform in Chile maintained positive commercial margins ✅ Aker Horizons Asset Development made progress on key projects and continued to explore data center opportunities for sites in Northern Norway Tune in to our presentation at 08.30 am CEST where Aker Horizons’ CEO Kristian Røkke, CFO Kristoffer Dahlberg and Mainstream Renewable Power CEO Mary Quaney will present the main developments in the second quarter 👇 https://lnkd.in/dWxmm8Zk

Tailwind in Sweden! Mainstream Renewable Power and Freja Offshore with important progress 🌬️in Sweden! The County Administrative Board of Västra Götaland, proposes Government approval of the Freja´s application to build the 2.5 GW Mareld floating offshore wind farm, outside Lysekil. Freja Offshore is a joint venture between Mainstream Renewable Power and Swedish company Hexicon, and when fully developed expected to deliver 12 TWh electricity every year to meet the rapidly increasing demand for renewable power in Sweden. https://lnkd.in/dnjRkgNc

🌈 Celebrating Pride Month at Aker Horizons As we step into June, we at Aker Horizons join the global community in celebrating Pride Month. This is a time to honor the resilience, courage, and diversity of the LGBTQ+ community, and to reaffirm our commitment to fostering an inclusive and accepting environment.   Pride Month is more than just a celebration; it’s a testament to the progress made and a reminder of the work that still needs to be done. It’s about acknowledging the struggles faced by the LGBTQ+ community, and standing together in the pursuit of equality and justice.   At Aker Horizons, we believe that everyone should feel safe and accepted for who they are. We understand that our strength lies in our diversity, and we are committed to maintaining a culture where everyone is treated with respect.   Every day, let’s continue to learn, grow, and support each other in creating a world where everyone can be proud to be themselves. Happy #PrideMonth! 🧡💛💚💙💜

🎉 Congratulations to Principle Power for featuring among the five winners selected for the second phase of the Floating Offshore Wind ReadINess (FLOWIN) Prize by the U.S. Department of Energy (DOE)! The prize was set up to support technologies that can facilitate mass production and deployment of floating wind turbines. The award consists of a $450,000 cash prize and $100,000 in technical assistance from the DOE National Labs. Principle Power will use the prize money to advance WindFloat® manufacturing, supply chain, and deployment plans in the US market. 🇺🇸

Thank you to Wikborg Rein and the German-Norwegian Chamber of Commerce for bringing together actors across industry, government, finance and the legal sector to discuss developments in the clean hydrogen market in the EU, Germany and Norway, including hydrogen grid regulation, pipeline infrastructure, support schemes and investment trends. Rob Marshall and Stein Nestvold provided an update on our Narvik Green Ammonia project being developed together with Statkraft, which can help initiate large-scale green hydrogen export to Germany and the EU once in operation in 2029. #energytransition #greenhydrogen #netzero

Congratulations to Mainstream Renewable Power for this major onshore wind award in Australia! Australia has set an ambitious energy policy target: the country aims to elevate renewable energy's share from 32% today to an impressive 82% by 2030! 💪 This translates into the deployment of 4 GW of wind and solar each year. 🌬 ☀

Aker Horizons released its first quarter 2024 results today, reporting: ➡ Net asset value of NOK 8.7 billion, gross asset values of NOK 15.1 billion at the end of Q1 ➡ Cash position of NOK 3.2 billion and an undrawn credit facility of EUR 500 million, giving available liquidity of NOK 9.0 billion What were the main developments that marked our portfolio in the quarter? ✅ Aker Carbon Capture ASA and SLB agreed to merge their carbon capture businesses to accelerate industrial decarbonization at scale ✅ Mainstream Renewable Power continued to execute on its near-term project pipeline, with the Ckhúri 109 MW onshore wind project in Chile resuming construction and new 50 MW private PPA project in South Africa nearing financial close ✅ Aker Horizons Asset Development completed pre-FEED study for Narvik Green Ammonia and is exploring power-intensive growth industries for sites in Northern Norway Tune in to our presentation at 08.30 am CEST where Aker Horizons’ CEO Kristian Røkke, CFO Kristoffer Dahlberg and Mainstream Renewable Power CEO Mary Quaney will present the main developments in the first quarter 👇  https://lnkd.in/db3edr6u

🎬 Great video by Principle Power showcasing the technological advances for floating offshore wind, enabling further industrialization of the sector to deliver GW-scale floating wind projects globally. By 2030, Principle Power aims to have enabled the deployment of 300 floating offshore wind turbines. 🌬 #OffshoreWind #FloatingWind #NetZero

📢 Exciting news out of Seattle! 🇺🇸   Our portfolio company Aker Carbon Capture has signed a memorandum of understanding with CO280 and Microsoft to explore opportunities for scaling the full physical and digital value chain of #CarbonRemoval in the US and Canada. The collaboration aims to facilitate the deployment of large-scale projects quickly to meet global #NetZero targets by providing traceability of data and high-integrity #CarbonCredits. This is a significant step towards achieving permanent, verifiable, and affordable Carbon Dioxide Removals. 🌍   “It’s time to move past the first-of-a-kind and the demonstration projects for carbon removal. The deployment rate needs to be accelerated by the hundreds to deliver the ‘net’ in net zero. We have demonstrated the strength of working together in the past, and we are excited to expand our collaboration with Microsoft and CO280 to further deliver impact” says Egil Andre Fagerland, CEO of Aker Carbon Capture. Read more here 👇 https://lnkd.in/ghPhZrcT #netzero #CCS #CDR

How can early-bird green hydrogen producers catch the worm? 🐦🐛 That was among the questions addressed by Aker Horizons, Statkraft and VNG Handel & Vertrieb GmbH during our seminar held in Brussels this week on scaling up clean hydrogen supply in Europe. 🇪🇺 The EU aims for a major clean hydrogen ramp up to decarbonize industries and transport, targeting 10 million tonnes of domestic renewable hydrogen production and 10 million tonnes of imports by 2030. Green hydrogen value chains are both complex and capital intensive to develop, so getting there will require new industrial partnerships and policy support, including financing. Bringing together EU policymakers, industry and energy association leaders, our event included interventions by Jannicke Elisabeth Witsø, Bjørn Holsen, Thomas Schrepffer, Markus Exenberger, Fridtjof Unander, Knut Nyborg, Stein Nestvold and Rob Marshall who presented the Narvik Green Ammonia project to showcase how to develop the entire value chain from production to use to ensure that significant volumes of green ammonia, compliant with RED RFNBO requirements, are delivered to European offtakers in time for that critical 2030 target. 🎯 #energytransition #netzero #greenhydrogen