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Horisont Energi AS ( (DE:9GJ) ) just unveiled an announcement.
Horisont Energi announced the completion of a strategic review aimed at maximizing shareholder value and securing funding for its CCS and clean ammonia projects. Despite significant investor interest, no additional financing was secured, largely due to a market downturn and shifting investor focus towards cash flow-positive businesses. The company is implementing cost reduction measures, including manpower reductions, to extend its capital runway and continue progressing on key projects like Barents Blue and Gismarvik CO2 hub, positioning itself to navigate current market challenges.
More about Horisont Energi AS
Horisont Energi is a Norwegian clean energy company focused on providing clean energy and carbon transport and storage services. Established in 2019 and headquartered in Sandnes, Norway, it aims to transform gas, water, and renewable energy into cost-effective clean ammonia and hydrogen. The company also offers CO2 transportation and storage services using proprietary technology, contributing to a low carbon economy. It operates through subsidiaries specializing in clean ammonia, carbon storage, and mid-stream CCS infrastructure.
YTD Price Performance: -39.41%
Average Trading Volume: 279
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €2.97M
See more insights into 9GJ stock on TipRanks’ Stock Analysis page.