{"id":11606,"date":"2024-11-01T14:55:01","date_gmt":"2024-11-01T07:55:01","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=11606"},"modified":"2024-11-01T14:55:01","modified_gmt":"2024-11-01T07:55:01","slug":"aker-horizons-asa-third-quarter-results-2024","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=11606","title":{"rendered":"Aker Horizons ASA: Third-quarter results 2024"},"content":{"rendered":"<p><span class=\"legendSpanClass\">FORNEBU,\u00a0Norway<\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 1, 2024<\/span><\/span> \/PRNewswire\/ &#8212; Aker Horizons ASA (OSE:\u00a0AKH), a developer of green energy and industry, today announced results for the third quarter 2024. Aker Horizons&#8217; net capital employed stood at <span class=\"xn-money\">NOK 6.1 billion<\/span>, a decrease of <span class=\"xn-money\">NOK 1.0 billion<\/span> from the second quarter, mainly driven by impairments in Mainstream. The company reported a cash position of <span class=\"xn-money\">NOK 3.0 billion<\/span> and an undrawn credit facility of <span class=\"xn-money\">EUR 500 million<\/span>, giving available liquidity of <span class=\"xn-money\">NOK 8.8 billion<\/span>.<\/p>\n<p><b>Third quarter main developments: <\/b><\/p>\n<p>The JV between Aker Carbon Capture (ACC) and SLB was renamed SLB Capturi and announced its first US-based project:<\/p>\n<ul type=\"disc\">\n<li>SLB Capturi was awarded a FEED contract by CO280 Solutions for a large-scale carbon capture plant at a pulp and paper mill on the US Gulf Coast.<\/li>\n<li>The Board of Directors of ACC continues the process of determining the future strategy and structure of ACC and will communicate conclusions within Q1 2025.<\/li>\n<\/ul>\n<p>Mainstream Renewable Power (Mainstream) is delivering on its pipeline in <span class=\"xn-location\">South Africa<\/span> and focuses on business optimization:<\/p>\n<ul type=\"disc\">\n<li>The 50 MW solar project Ilikwa in <span class=\"xn-location\">South Africa<\/span> reached financial close.<\/li>\n<li>The commercial margin of the Andes platform in <span class=\"xn-location\">Chile<\/span> improved in Q3.<\/li>\n<li>Mainstream is streamlining its business to focus on growth in core markets <span class=\"xn-location\">South Africa<\/span>, <span class=\"xn-location\">Australia<\/span> and <span class=\"xn-location\">the Philippines<\/span>, with continued investment in key offshore projects.<\/li>\n<\/ul>\n<p>Aker Horizons Asset Development (AAD) completed a concept optimization for Narvik Green Ammonia; strong data center interest for sites in <span class=\"xn-location\">Northern Norway<\/span>:<\/p>\n<ul type=\"disc\">\n<li>A concept optimization for the Narvik Green Ammonia project has been concluded with a decision to move the project to Lallasletta.<\/li>\n<li>An MoU was signed with Masdar to explore collaboration and investment opportunities in green hydrogen.<\/li>\n<li>Data center players are showing significant interest in Kvandal and other industrial sites in the Powered Land site portfolio.<\/li>\n<\/ul>\n<p>SuperNode secured funding to advance superconducting transmission technology development:<\/p>\n<ul type=\"disc\">\n<li>Significant grants were secured from Irish and UK institutions to fund research &amp; development.<\/li>\n<li>SuperNode opened a new Cable Technology Centre in Blyth, UK, enabling first production of superconducting cables for bulk electricity transmission<\/li>\n<\/ul>\n<p>Lars P. S\u00f8rvaag Sperre, CEO of Aker Horizons, commented:<\/p>\n<p>&#8220;We are pleased to see ACC and SLB Capturi reaching material milestones this quarter to enter the important US carbon capture market. Mainstream will now embark on a business plan that focuses on growth in selected core markets. This will enable Mainstream to speed up the development of projects. Furthermore, we have continued to develop and explore options for Aker Horizon&#8217;s green hydrogen projects and the Powered Land sites. It is really encouraging to see the strong interest from the data center industry around our activities in the Narvik area&#8221;.<\/p>\n<p>Aker Horizons reports net capital employed to reflect a portfolio composed mainly of unlisted assets. Net capital employed includes Aker Horizons&#8217; initial investment in the portfolio company, adjusted for any profit or loss and any additional investments, adjusted for foreign exchange fluctuations. As of the third quarter, Aker Horizons had <span class=\"xn-money\">NOK 2.4 billion<\/span> net capital employed in ACC, <span class=\"xn-money\">NOK 2.8 billion<\/span> in Mainstream, <span class=\"xn-money\">NOK 543 million<\/span> in AAD, <span class=\"xn-money\">NOK 197 million<\/span> in SuperNode and <span class=\"xn-money\">NOK 242 million<\/span> in other assets.<\/p>\n<p>The Q3 2024 presentation is attached.<\/p>\n<p>Aker Horizons&#8217; CEO <span class=\"xn-person\">Lars P. S\u00f8rvaag<\/span> Sperre and CFO <span class=\"xn-person\">Kristoffer Dahlberg<\/span>, and Mainstream&#8217;s CEO <span class=\"xn-person\">Mary Quaney<\/span> will present the main developments in the third quarter 2024 today at <span class=\"xn-chron\">08:30 CEST<\/span>, followed by a Q&amp;A session. The presentation, which is open to all, will be held in English and will be webcast on Aker Horizons&#8217; website:<\/p>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=757926231&amp;u=https%3A%2F%2Fakerhorizons.com%2Finvestors&amp;a=https%3A%2F%2Fakerhorizons.com%2Finvestors\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/akerhorizons.com\/investors<\/a>\u00a0<\/p>\n<p>For further information, please contact:<\/p>\n<p><span class=\"xn-person\">Stian Andreassen<\/span>, Investor Relations, tel: +47 41 64 31 07, email: <a href=\"mailto:stian.andreassen@akerhorizons.com\" target=\"_blank\" rel=\"nofollow noopener\">stian.andreassen@akerhorizons.com<\/a>\u00a0<\/p>\n<p><span class=\"xn-person\">Mats Ektvedt<\/span>, Media, tel: +47 41 42 33 28, email: <a href=\"mailto:mats.ektvedt@corporatecommunications.no\" target=\"_blank\" rel=\"nofollow noopener\">mats.ektvedt@corporatecommunications.no<\/a>\u00a0<\/p>\n<p><b>About Aker Horizons <\/b><\/p>\n<p>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. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, <span class=\"xn-location\">Norway<\/span>. Across its portfolio, the company is present on five continents. <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=3705758034&amp;u=https%3A%2F%2Fwww.akerhorizons.com%2F&amp;a=www.akerhorizons.com\" target=\"_blank\" rel=\"nofollow noopener\">www.akerhorizons.com<\/a>\u00a0<\/p>\n<p>This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements in Regulation EU 596\/2014 and the Norwegian Securities Trading Act \u00a7 5-12. This stock exchange announcement was published by <span class=\"xn-person\">Mats Ektvedt<\/span>, Partner in Corporate Communications, on <span class=\"xn-chron\">1 November 2024<\/span> at <span class=\"xn-chron\">07:00 CET<\/span>.<\/p>\n<p>This information was brought to you by Cision <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=1593174896&amp;u=http%3A%2F%2Fnews.cision.com%2F&amp;a=http%3A%2F%2Fnews.cision.com\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/news.cision.com<\/a><\/p>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=4067076376&amp;u=https%3A%2F%2Fnews.cision.com%2Faker-horizons%2Fr%2Faker-horizons-asa--third-quarter-results-2024%2Cc4059993&amp;a=https%3A%2F%2Fnews.cision.com%2Faker-horizons%2Fr%2Faker-horizons-asa--third-quarter-results-2024%2Cc4059993\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/news.cision.com\/aker-horizons\/r\/aker-horizons-asa&#8211;third-quarter-results-2024,c4059993<\/a><\/p>\n<p>The following files are available for download:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=1876190563&amp;u=https%3A%2F%2Fmb.cision.com%2FPublic%2F20659%2F4059993%2F81b1b2d3cb4be27b.pdf&amp;a=https%3A%2F%2Fmb.cision.com%2FPublic%2F20659%2F4059993%2F81b1b2d3cb4be27b.pdf\" target=\"_blank\" class=\"prnews_a\" rel=\"nofollow noopener\">https:\/\/mb.cision.com\/Public\/20659\/4059993\/81b1b2d3cb4be27b.pdf<\/a><\/span><\/p>\n<\/td>\n<td class=\"prngen1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Aker-Horizons-Q3-2024-Presentation<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<p><span class=\"legendSpanClass\">FORNEBU,\u00a0Norway<\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 1, 2024<\/span><\/span> \/PRNewswire\/ &#8212; Aker Horizons ASA (OSE:\u00a0AKH), a developer of green energy and industry, today announced results for the third quarter 2024. Aker Horizons&#8217; net capital employed stood at <span class=\"xn-money\">NOK 6.1 billion<\/span>, a decrease of <span class=\"xn-money\">NOK 1.0 billion<\/span> from the second quarter, mainly driven by impairments in Mainstream. The company reported a cash position of <span class=\"xn-money\">NOK 3.0 billion<\/span> and an undrawn credit facility of <span class=\"xn-money\">EUR 500 million<\/span>, giving available liquidity of <span class=\"xn-money\">NOK 8.8 billion<\/span>.<\/p>\n<p><b>Third quarter main developments: <\/b><\/p>\n<p>The JV between Aker Carbon Capture (ACC) and SLB was renamed SLB Capturi and announced its first US-based project:<\/p>\n<ul type=\"disc\">\n<li>SLB Capturi was awarded a FEED contract by CO280 Solutions for a large-scale carbon capture plant at a pulp and paper mill on the US Gulf Coast.<\/li>\n<li>The Board of Directors of ACC continues the process of determining the future strategy and structure of ACC and will communicate conclusions within Q1 2025.<\/li>\n<\/ul>\n<p>Mainstream Renewable Power (Mainstream) is delivering on its pipeline in <span class=\"xn-location\">South Africa<\/span> and focuses on business optimization:<\/p>\n<ul type=\"disc\">\n<li>The 50 MW solar project Ilikwa in <span class=\"xn-location\">South Africa<\/span> reached financial close.<\/li>\n<li>The commercial margin of the Andes platform in <span class=\"xn-location\">Chile<\/span> improved in Q3.<\/li>\n<li>Mainstream is streamlining its business to focus on growth in core markets <span class=\"xn-location\">South Africa<\/span>, <span class=\"xn-location\">Australia<\/span> and <span class=\"xn-location\">the Philippines<\/span>, with continued investment in key offshore projects.<\/li>\n<\/ul>\n<p>Aker Horizons Asset Development (AAD) completed a concept optimization for Narvik Green Ammonia; strong data center interest for sites in <span class=\"xn-location\">Northern Norway<\/span>:<\/p>\n<ul type=\"disc\">\n<li>A concept optimization for the Narvik Green Ammonia project has been concluded with a decision to move the project to Lallasletta.<\/li>\n<li>An MoU was signed with Masdar to explore collaboration and investment opportunities in green hydrogen.<\/li>\n<li>Data center players are showing significant interest in Kvandal and other industrial sites in the Powered Land site portfolio.<\/li>\n<\/ul>\n<p>SuperNode secured funding to advance superconducting transmission technology development:<\/p>\n<ul type=\"disc\">\n<li>Significant grants were secured from Irish and UK institutions to fund research &amp; development.<\/li>\n<li>SuperNode opened a new Cable Technology Centre in Blyth, UK, enabling first production of superconducting cables for bulk electricity transmission<\/li>\n<\/ul>\n<p>Lars P. S\u00f8rvaag Sperre, CEO of Aker Horizons, commented:<\/p>\n<p>&#8220;We are pleased to see ACC and SLB Capturi reaching material milestones this quarter to enter the important US carbon capture market. Mainstream will now embark on a business plan that focuses on growth in selected core markets. This will enable Mainstream to speed up the development of projects. Furthermore, we have continued to develop and explore options for Aker Horizon&#8217;s green hydrogen projects and the Powered Land sites. It is really encouraging to see the strong interest from the data center industry around our activities in the Narvik area&#8221;.<\/p>\n<p>Aker Horizons reports net capital employed to reflect a portfolio composed mainly of unlisted assets. Net capital employed includes Aker Horizons&#8217; initial investment in the portfolio company, adjusted for any profit or loss and any additional investments, adjusted for foreign exchange fluctuations. As of the third quarter, Aker Horizons had <span class=\"xn-money\">NOK 2.4 billion<\/span> net capital employed in ACC, <span class=\"xn-money\">NOK 2.8 billion<\/span> in Mainstream, <span class=\"xn-money\">NOK 543 million<\/span> in AAD, <span class=\"xn-money\">NOK 197 million<\/span> in SuperNode and <span class=\"xn-money\">NOK 242 million<\/span> in other assets.<\/p>\n<p>The Q3 2024 presentation is attached.<\/p>\n<p>Aker Horizons&#8217; CEO <span class=\"xn-person\">Lars P. S\u00f8rvaag<\/span> Sperre and CFO <span class=\"xn-person\">Kristoffer Dahlberg<\/span>, and Mainstream&#8217;s CEO <span class=\"xn-person\">Mary Quaney<\/span> will present the main developments in the third quarter 2024 today at <span class=\"xn-chron\">08:30 CEST<\/span>, followed by a Q&amp;A session. The presentation, which is open to all, will be held in English and will be webcast on Aker Horizons&#8217; website:<\/p>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=757926231&amp;u=https%3A%2F%2Fakerhorizons.com%2Finvestors&amp;a=https%3A%2F%2Fakerhorizons.com%2Finvestors\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/akerhorizons.com\/investors<\/a>\u00a0<\/p>\n<p>For further information, please contact:<\/p>\n<p><span class=\"xn-person\">Stian Andreassen<\/span>, Investor Relations, tel: +47 41 64 31 07, email: <a href=\"mailto:stian.andreassen@akerhorizons.com\" target=\"_blank\" rel=\"nofollow noopener\">stian.andreassen@akerhorizons.com<\/a>\u00a0<\/p>\n<p><span class=\"xn-person\">Mats Ektvedt<\/span>, Media, tel: +47 41 42 33 28, email: <a href=\"mailto:mats.ektvedt@corporatecommunications.no\" target=\"_blank\" rel=\"nofollow noopener\">mats.ektvedt@corporatecommunications.no<\/a>\u00a0<\/p>\n<p><b>About Aker Horizons <\/b><\/p>\n<p>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. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, <span class=\"xn-location\">Norway<\/span>. Across its portfolio, the company is present on five continents. <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=3705758034&amp;u=https%3A%2F%2Fwww.akerhorizons.com%2F&amp;a=www.akerhorizons.com\" target=\"_blank\" rel=\"nofollow noopener\">www.akerhorizons.com<\/a>\u00a0<\/p>\n<p>This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements in Regulation EU 596\/2014 and the Norwegian Securities Trading Act \u00a7 5-12. This stock exchange announcement was published by <span class=\"xn-person\">Mats Ektvedt<\/span>, Partner in Corporate Communications, on <span class=\"xn-chron\">1 November 2024<\/span> at <span class=\"xn-chron\">07:00 CET<\/span>.<\/p>\n<p>This information was brought to you by Cision <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=1593174896&amp;u=http%3A%2F%2Fnews.cision.com%2F&amp;a=http%3A%2F%2Fnews.cision.com\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/news.cision.com<\/a><\/p>\n<p><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=4067076376&amp;u=https%3A%2F%2Fnews.cision.com%2Faker-horizons%2Fr%2Faker-horizons-asa--third-quarter-results-2024%2Cc4059993&amp;a=https%3A%2F%2Fnews.cision.com%2Faker-horizons%2Fr%2Faker-horizons-asa--third-quarter-results-2024%2Cc4059993\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/news.cision.com\/aker-horizons\/r\/aker-horizons-asa&#8211;third-quarter-results-2024,c4059993<\/a><\/p>\n<p>The following files are available for download:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4292897-1&amp;h=1876190563&amp;u=https%3A%2F%2Fmb.cision.com%2FPublic%2F20659%2F4059993%2F81b1b2d3cb4be27b.pdf&amp;a=https%3A%2F%2Fmb.cision.com%2FPublic%2F20659%2F4059993%2F81b1b2d3cb4be27b.pdf\" target=\"_blank\" class=\"prnews_a\" rel=\"nofollow noopener\">https:\/\/mb.cision.com\/Public\/20659\/4059993\/81b1b2d3cb4be27b.pdf<\/a><\/span><\/p>\n<\/td>\n<td class=\"prngen1\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">Aker-Horizons-Q3-2024-Presentation<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-11606","post","type-post","status-publish","format-standard","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/11606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11606"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/11606\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}