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1/12, 8:04 PM (Source: TeleTrader)
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E.ON-0.45%

9.366
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E.ON to take 25% stake in Horisont Energi

E.ON announced on Wednesday it struck a strategic cooperation agreement with Horisont Energi and agreed to acquire a 25% stake in the company by the end of the month.

The two companies will join forces on the development of a European end-to-end carbon capture, transport and storage service offering to new and existing E.ON customers, the development of a carbon removal business, and production and value chains for clean hydrogen and ammonia.

E.ON is set to take responsibility for the carbon capture and liquefaction, while Horisont Energi will be in charge of the transport and sequestration of the carbon dioxide.

Baha Breaking News (BBN) / NP