

The purchase of green ammonia from the Narvik project might be an important step along the way," HeitmA 1/4ller added. "Our goal is to drive decarbonization in eastern Germany, especially in industry. VNG and Aker Horizons have complementary skills, strengths and know-how, providing a solid foundation to develop green business models," Ulf HeitmA 1/4ller, CEO of VNG, explained. We are pleased that the Letter of intent signed today will be the foundation for future cooperation with Aker Horizons and at the same time strengthen the energy relationship with Norway. "Norway has been a stable and trustworthy energy supplier for VNG for many years and will remain so in the future. Through this collaboration, Aker Horizons and VNG will accelerate the ramping up of the hydrogen economy in line with German and EU ambitions, supporting the decarbonization of hard-to-abate industries." "Achieving a fully-decarbonized energy system requires close collaboration between governments, local authorities, regulators, investors, and industry. "The Narvik project is an important milestone in the development of industrial-scale production of green hydrogen and green ammonia in Europe, and we are pleased to be joined on this journey by an established industry player such as VNG," said Kristian RAkke, CEO of Aker Horizons. The partnership between Aker Horizons and VNG supports Norway's commitment to become a key supplier of clean hydrogen to Germany and the European Union (EU), helping foster new green industrial development and strengthening European energy security. The agreement was signed in Berlin during a visit by Norway's Minister of Trade, Industry and Fisheries Jan Christian Vestre to German Vice-Chancellor Robert Habeck. The LOI is a first step towards a firm supply agreement between the parties and could be expanded to further areas of collaboration. The green ammonia will be shipped from Narvik to terminals in Germany, where VNG will distribute it further as ammonia or hydrogen to its customers, who will use it to decarbonize their operations. VNG intends to procure up to 200,000 tonnes of green ammonia per year from Aker Horizons' large-scale green industrial hub under development in Narvik as of 2028.
