Finland – Horisont Energi and Helen, a Finnish energy company, have signed a memorandum of understanding to collaborate on hydrogen economy and carbon storage.
The companies are working together to investigate the capture of carbon dioxide from power plant flue gases, as well as the utilization, logistics, and storage of the recovered carbon dioxide.
With its world-scale clean ammonia project in Northern Norway, Horisont Energi is taking part in the EU Hydrogen IPCEI (Important Projects for Common European Interest) call. The hydrogen IPCEI’s goal is to create value chains related to the production and use of hydrogen, as well as to provide adequate funding for these important projects. Helen is involved in the project of Horisont Energi.
Emission-free electricity, such as solar or wind power, can be used to manufacture carbon-neutral products, a concept known as “Power to X.” Carbon capture and renewable hydrogen, for example, can be used to produce a variety of raw materials for the chemical industry. These Power to X projects will necessitate massive amounts of emission-free energy, and new business opportunities for Finland will emerge as a result of the projects. The expansion of emission-free energy, particularly wind power, provides Finland with a competitive advantage. Helen’s strategy emphasizes the production of carbon-neutral energy as well as customer solutions. For example, the Lakiakangas 3 wind farm, which is scheduled to be completed in January, will more than fivefold Helen’s wind power production.
