Q2 2024 Horisont Energi AS Earnings Call Transcript
Key Points
- Horisont Energi AS (FRA:9GJ) has made significant progress on commercial agreements for various new projects.
- The company has reduced costs by 50% compared to the same quarter last year, leading to a reduced loss of NOK29 million.
- The Barents Blue project has generated substantial local interest and support, creating several hundred new jobs.
- The company has received the status of a project of mutual interest from the EU for the Gismarvik project, which could lead to EU funding.
- Horisont Energi AS (FRA:9GJ) has strong support from local communities and stakeholders for its projects, enhancing its market penetration and sustainability credentials.
- Despite progress, the company acknowledges that some stakeholders are impatient for more news and results.
- The capital runway remains a concern, with the company actively exploring additional funding options.
- The timeline for key projects like Barents Blue and Polaris has been extended, potentially delaying returns.
- The company faces challenges in achieving commercial maturity for its projects, which is crucial for moving forward.
- There is uncertainty regarding the award of new CCS licenses, which could impact future project developments.
Good morning and welcome to the second quarter presentation for Horisont Energi. My name Bjørgulf Haukelidsæter Eidesen, I'm one of the two co-CEOs of Horisont Energi. With many of my (inaudible)
Siri Melberg, responsible for branding and communication of Horisont Energi.
(multiple speakers) My name is Leiv Kallestad, I'm the other Co-CEO in Horsont. I will take you through the introductions and the first couple of slides. And then Bjørgulf and I will present the message to be (technical difficulty) today between ourselves as we go forward. You've seen this slide before. I'm not going to spend a lot of time on this, but since we introduced the BU structure internally in the company, we have been working along these lines. And we have been pushing the Barents Blue projects for Clean Ammonia in the Barents Sea. We
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