Sandnes, Norway, 21 August 2025 - Horisont Energi AS ("Horisont Energi" or the
"Company") announces its unaudited results for the first half of 2025 and the
Board of Directors' decision to plan for an orderly wind-down of day-to-day
operations. The focus going forward will be on realisation of value related to
IP, technology, concepts, projects and other assets.
The first half of 2025 was marked by challenging market conditions, limited
investor traction, and lack of commercial progress across core projects. Since
the last update, the shares in Barents Blue AS (previously known as Horisont
Ammoniakk AS) were distributed as dividend in-kind to the shareholders in the
Company in June this year. As of end June, Barents Blue is consequently not
part of the Company's business. Despite actively attempting to identify
opportunities, no significant advancement has been made in the investor
dialogues, and the number of interested parties has declined. Efforts to secure
funding or strategic partnerships have consequently not been successful so far.
The Board has therefore resolved to instigate a plan to wind down project
activities from 30 September 2025. The current plan is that most employees will
leave the Company by 30 September and with the remaining employees leaving by
year-end.
Key Financials (NOK, unaudited H1 2025):
o Total income: 1.0 million
o Operating loss: -30.5 million
o Net loss: -34.2 million
o Cash & equivalents: 29.2 million (no interest-bearing debt)
Projected cash position is MNOK 21 on 30 September 2025 and MNOK 18 at year-end,
with an expected monthly burn rate of MNOK 3 until September and around MNOK 2
in the period from October 1st until December 31st. Unless other solutions
materialize, the Company expects to be in a position to consider a return of
paid-in capital to shareholders in Q4 2025, subject to legal and financial
conditions.
For further information, please contact:
Horisont Energi AS
Leiv Kallestad, CEO
Email: leiv.kallestad@horisontenergi.com
Tel: +47 9589 5661