Norwegian clean energy company Horisont Energi and the Finnish energy company Helen will cooperate on hydrogen economy and carbon storage (CCUS).
The parties have signed a memorandum of understanding for cooperation in the areas of CCUS and hydrogen. They are jointly exploring the capture of CO2 from power plant flue gases. They are also looking into the use, logistics, and storage of the recovered CO2.
“ Carbon dioxide is a climate-warming greenhouse gas, but it can also be utilised as a raw material for various products. Among other things, carbon dioxide can be used to manufacture chemical industry products or carbon-neutral fuels for transport,” explained Tuukka Hartikka from Helen.
“Industrial decarbonization is central to reaching net-zero emission targets; and cost-effective carbon value chains will be a key component in achieving this. Horisont Energi aims to provide cost-leading carbon storage across the Norwegian Continental Shelf in the coming years and the collaboration with Helen is an important step in opening up our activities further toward 3rd party CCUS,” said Bjørgulf Haukelidsæter Eidesen , CEO of Horisont Energi.
Horisont Energi is participating in the EU Hydrogen IPCEI call with its clean ammonia project in Northern Norway. The goal of the hydrogen IPCEI is to create value chains for the production and use of H2. Helen also supports Horisont Energi’s project.
Power to X – a step towards a carbon-neutral society You can manufacture carbon-neutral products with emission-free electricity, such as solar or wind power. These are collectively often referred to as “Power to X”. For example, various raw materials for the chemical industry can be produced using carbon capture and renewable hydrogen.
These Power to X projects will require vast amounts of emission-free energy, and new business opportunities are emerging for Finland along with the projects. The growth of emission-free energy creates a competitive advantage for Finland. The production of carbon-neutral energy and customer solutions also feature strongly in Helen’s strategy.
“Carbon neutrality is just the beginning; we are already looking to 2040 and the goal of carbon negativity. In practice, this means that more carbon will be removed than is released into the atmosphere. In other words, emissions are negative. This can for example be achieved by capturing bio-based carbon dioxide from flue gases and storing it underground,” said Sari Mannonen from Helen.