The companies announced the merger in an announcement on the stock exchange on Wednesday morning.
The plans mean that Aker Offshore Wind and Aker Clean Hydrogen will become wholly owned companies in the Aker Horizon portfolio, thus all of Aker’s renewable energy and zero-emissions businesses will be merged. Aker Horizons is an Aker investment firm focused on green solutions.
According to the announcement, the merger will enhance Aker Horizon’s ability to contribute to the energy transition and increase value added from businesses.
Norway has all the prerequisites for building green industries, including access to affordable energy and advanced technical expertise, says Christian Roque, CEO of Aker Horizons, in a press release.
One of the things the company is now looking at is decarbonizing steel production, an industry with high emissions, as an opportunity for the combined company. They have the goal of developing integrated production of green steel with hydrogen in Narvik.
broke up in 2020
Aker Solutions has distinguished itself for its investments in offshore wind and CO22Capturing them as separate work areas in 2020. In February last year, the company launched its hydrogen investment, Aker Clean Hydrogen, with the goal of having the company have an installed capacity of 5 gigawatts by 2030.
So the two of them will now be under the Aker Horizons umbrella.
For Aker Offshore Wind, this means a closer collaboration with Mainstream Renewable Power, also owned by Aker Horizons.
This creates an industrially and financially stronger developer of renewable energy. (…]It will provide better access to financing for Aker Offshore Winds projects and help Mainstream become a global player in renewable energy more quickly, the companies write in the report.
Withdrawing from the Yarra project
Recently yesterday, it became known that Aker Clean Hydrogen and Statkraft are pulling out of the ammonia project at Herøya in Porsgrunn, which they had with Yara. Just before Christmas, the project was even promised 283 million from Enova. The money will go to build a 24 megawatt electrolysis plant to produce hydrogen from water and electricity.
In today’s stock announcement, the company said that Aker Horizons, through its merger with Ajker Clean Hydrogen, plans to further develop large-scale decarbonization projects with integrated hydrogen production.
They will continue to focus on a growing market for hydrogen, ammonia and methanol and build on Aker Clean Hydrogen projects in an industry that has difficulty reducing emissions. They mention, among others, projects related to green steel, and look in particular at the integrated production of green steel with hydrogen at Narvik.
The merger with Aker Horizons will enhance the company’s ability to fund and implement its existing projects, as well as open up new opportunities to build a stronger industrial development muscle, to achieve decarbonization on a larger scale, says Karl Jonny Hersvik, Chairman of the Board at Aker Clean Hydrogen in the letter. .
Companies have a plan to complete the merger in June this year.
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