Horisont Energi is making significant progress with its Barents Blue project located in Northern Norway. The company has reached a new milestone by signing a term-sheet with a European energy group for the sale of ammonia from the planned clean ammonia plant. This development is crucial for the project's commercial advancement towards the concept select milestone later this year. The project, part of the EU IPCEI Hydrogen program, aims to set high environmental standards for clean ammonia production. With a focus on clean energy, the Barents Blue project is characterized by its best-in-class carbon capture rate exceeding 99% and energy efficiency. The next steps involve finalizing Sales and Purchase Agreements targeted for completion by 2026. The project is well-positioned from technical, contractual, and zoning perspectives, with a strong emphasis on environmental sustainability. Additionally, the project has secured sufficient power supply for its initial phase and is supported by a significant grant from the EU. The Barents Blue project targets a final investment decision by 2026, with production expected to commence in 2029/2030.