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Horisont Energi accelerate their transition to carbon neutrality using the EU Taxonomy

Ellen Braune
August 16, 2022
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Horisont Energi accelerate their transition to carbon neutrality using the EU Taxonomy

What:

Founded in 2019, Horisont Energi is a Norwegian and Sandnes-based energy company that provides clean energy and carbon storage services. Being listed on the Euronext Growth in Oslo in January 2021, Horisont Energi’s business idea is to convert gas, water and renewable energy into cost-leading clean ammonia and hydrogen while providing CO2 transport and storage services using proprietary technology. This way, Horisont Energi aims to facilitate a low carbon economy.

Horisont Energi is primarily known for the Barents Blue project, which combined with the CO2 storage reservoir Polaris aims to develop the world's largest clean ammonia factory virtually without emissions. With a mission to accelerate the transition to carbon neutrality through pioneering projects, Horisont Energi considers sustainability measurement as an important tool for highlighting green choices for investors and other business partners. As a key legislative framework, the EU Taxonomy was early identified as a pillar in their sustainability tracking and reporting.

How:

Using Celsia, Horisont Energi assessed their projects within clean ammonia and carbon transport and storage. As Horisont Energi still is in the concept phase of their project, their assessment was based on the EU Taxonomy’s CapEx plan allowance. This involves that investments and costs related to bringing an activity to alignment within a timespan of up to 5 years, can be counted as green. In a resource-efficient way, Horisont Energi was able to complete the taxonomy assessment through individual comparison of performance and requirements while getting audit-ready. After finishing the assessment, Horisont Energi initiated verification of their taxonomy score by an independent third-party assessor with separate auditor access to Celsia. The software’s collaboration possibilities resulted in both an efficient and cost-saving verification process.

Impact:

Horisont Energi completed the initial EU taxonomy assessment in a compliant, low-cost and resource-efficient way. Using Celsia, Horisont Energi can map and plan potential taxonomy-aligned sustainability focus areas in the projects. This way, their project development can be adapted to achieve the goals of being an important contributor to environmental change. Horisont Energi plans to use their verified results in external communication and reporting towards investors and business partners.

quote
We needed a way of assessing and proving our sustainable impact on our surroundings. Even if the taxonomy is not fully in place, we saw a need to adapt to the requirements known going forward with our projects. Celsia helped us starting the process to quantitatively measure our sustainability, confirming the value of our green efforts and avoiding potential challenges in being defined as a sustainable company.
Ellen Braune
COO, Horisont Energi
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