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Saga Pure ASA: Private placement in Horisont Energi

Saga Pure ASA
·2-min read

(Oslo, 30 December 2020) Reference is made to the stock exchange release as of 28 December 2020 regarding Saga Pure ASA’s (Saga, OSE: SAGA) subscription of NOK 35 million in a gross NOK 150 million private placement of new shares (the “Private Placement”) in Horisont Energi AS (“Horisont Energi”), corresponding to an ownership of 11.7% in Horisont Energi.

On 30 December the Board of Directors of Horisont Energi approved the oversubscribed Private Placement, whereof Saga has been allocated shares for the full subscription amount of NOK 35 million, corresponding to an ownership of 11.7% in the company. Payment of the Private Placement is expected to take place on or about mid-January 2021, and Saga will be offered to nominate one director to the Horisont Energi Board. The completion of the offering in Horisont Energi is subject to customary conditions. Horisont Energi intends to apply for listing of its shares on Euronext Growth.

“We’re very excited to become a shareholder in Horisont Energi, who are developing innovative solutions for blue hydrogen and ammonia production which include cost effective CO2-handling, and look forward to working actively with the company,” says Bjørn Simonsen, CEO of Saga.

Horisont Energi will use the net proceeds from the Private Placement to build the organization and make preparatory work to reach a final investment decision for the first project in Northern Norway.

ENDS

For further information, please contact:
Bjørn Simonsen, CEO, +47 97 17 98 21
Espen Lundaas, CFO, +47 92 43 14 17

About Saga Pure ASA
Saga Pure is an investment company focusing on opportunities within renewable energy, hydrogen, circular economy and CO2-reductions.
About Horisont Energi AS
Horisont Energi is a company based in Stavanger, Norway which is developing blue hydrogen, blue ammonia and carbon storage solutions.
The company has an experienced team with background from the oil and gas sector and the energy supplier industry. The company is combining cutting-edge ammonia production technologies which enable effective CO2-capture along with a transport and storage solution which enables a significantly lower cost of carbon capture and storage (CCS) than that of today’s available solutions.
The company’s first blue ammonia plant is planned to be established in Finnmark in the north of Norway in a partnership together with Equinor, and the company is already in dialogue with several other large international companies for further blue ammonia and CCS projects.

More information on www.horisontenergi.no