Norwegian Energy Company Horizont Energi AS intends to phase out its operations by the end of September 2025 amid an unfavorable market situation and inability to secure strategic investments. This is reported in the Horisont Energi press release.
In June 2025 Horizont Energi has stopped implementing a blue ammonia production project in the Barents region in an effort to raise capital for its other businesses, including the Gismarvik Co. hub and the Polaris carbon storage initiative. Despite actively attracting investors, Horizont Energi has not received any firm offers.
Horisont Energi's net loss for the first half of the year was NOK 34.5 million, down from NOK 64.6 million a year earlier, despite cost and headcount reductions. After September, the company plans to retain several employees to manage asset sales and explore potential shareholder returns.
Horisont Energi was founded as part of the transition Norway's path to clean energy through the production of pure ammonia. The shutdown reflects the broader challenges faced by early-stage green technology companies in the face of rising interest rates and investors' preference for more profitable assets.
Horisont Energi is a Norwegian renewable energy company. The company specializes in the production of pure ammonia and hydrogen, and provides services for the transportation and storage of CO2 using a patented technology. Kvakrtir's headquarters is located in Sandnes (Norway).
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