Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and hydrogen and develops industrial scale decarbonization projects.
Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Through its portfolio companies, Aker Horizons employs over 1,100 people across 18 countries and five continents. Aker owns 67.25 of the shares in Aker Horizons.
Aker’s ownership agenda
Aker’s ownership agenda for Aker Horizons is to continue to develop the company as a driving force for decarbonization and environmental improvements through shareholdings in companies that develop and deliver industrial solutions. The ambition is to build a platform for long-term value creation, where Aker Horizons can benefit from technologies, industrial expertise, and industrial software in Aker-owned companies and in strategic industrial partnerships.
Øyvind Eriksen represents Aker on Aker Horizons’ board of directors.
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Investments
Aker Horizons’ portfolio comprises Aker Carbon Capture (43.3 percent ownership), Mainstream Renewable Power (58.4 percent ownership), Aker Horizons Asset Development (100 percent ownership), and SuperNode (50 percent ownership.
Aker Carbon Capture: A commercial breakthrough for carbon capture
Aker Carbon Capture is a pure play carbon capture company with solutions, services and technologies serving a range of industries. The company has a proprietary and field-proven technology, with more than 60,000 hours of operation, to enable carbon emission reduction and removal in sectors such as cement, gas-to-power, biomass and waste-to-energy, blue hydrogen and other hard-to-abate industries. The company builds on more than 20 years of carbon capture technology development and operational facility experience as part of the Aker group.
The major commercial breakthrough for the company was the framework agreement with the HeidelbergCement/Norcem facility in Breivik, Norway, that has set its goal for yearly reduction of CO2 emissions to 400 000 tonnes,. Today, Aker Carbon Capture has a total of seven carbon capture units under development, including at Ørsted in Denmark and at Twence in the Netherlands.
The company is listed on the Oslo Stock Exchange.
In July 2023, Aker Carbon Capture and Aramco signed a Memorandum of Understanding (MoU) to explore partnership opportunities to deploy carbon capture, utilization and storage (CCUS) and industrial modularization in Saudi Arabia. The MoU is expected to focus on carbon emissions reduction and removal through CCUS from industries and energy solutions by offering modular carbon capture plants and aftermarket services. The parties also aim to assess the potential for developing local supply chains and module fabrication. The MoU has a duration of two years.
Mainstream Renewable Power: Creating a renewable energy major
Mainstream Renewable Power is a leading pure-play renewable energy company with a presence across Europe, Latin America, Africa, and Asia-Pacific. As per mid-2023, the company had a global portfolio of 20.8 GW. In May 2021, Aker Horizons acquired a majority stake in Mainstream and, in April 2022, Japan-based Mitsui & Co., Ltd. joined Aker Horizons as a long-term strategic investor. In addition to bringing forward industrial-scale onshore wind and solar projects around the world, Mainstream is advancing gigawatt-scale offshore wind projects in Vietnam, South Korea, Norway, Ireland, the UK, Sweden and Australia.
The company's growth trajectory and offshore wind ambition accelerated in 2022 with the integration of Aker Offshore Wind, combining world-class development and industrialization capabilities through the Aker group of companies with Mainstream's strong development and execution track record. Mainstream is currently developing a net capacity of 1.5 GW of floating offshore wind in Scotland and South Korea, and 1.3 GW of fixed bottom offshore wind in Vietnam.
Aker Horizons Asset Development: Green industry
Aker Horizons’ wholly-owned asset development arm was established following the merger between Aker Horizons and Aker Clean Hydrogen in June 2022. The business unit is set up to originate, develop, own and operate industrial-scale hydrogen projects to meet growing demand for decarbonizing energy-intensive, hard-to-abate industries such as shipping, steel and fertilizers. Initial focus areas include green ammonia, green methanol and green iron.
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