YARIY Yara International ASA (PK)

By Dominic Chopping

Aker Clean Hydrogen AS said Tuesday that the company will end its participation in the Hegra green ammonia project along with Norwegian state-owned energy producer Statkraft, leaving Yara International ASA to solely work on the project.

Hegra was launched in 2021 as a collaborative project between Yara, Aker Clean Hydrogen and Statkraft with the aim of electrifying Yara's ammonia plant at Heroya in Norway.

"The recently completed feasibility study shows that Hegra is feasible, but due to commercial and strategic reasons there is no basis for continuing the project under the current ownership structure," the company said.

Each of the companies will continue to promote hydrogen production and demand in Norway and internationally, and the companies are still open to cooperating in parts of the value chain, it added.

Going forward, Statkraft and Aker Horizons--the majority owner of Aker Clean Hydrogen--will seek to develop further green hydrogen and ammonia projects together.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 29, 2022 08:15 ET (12:15 GMT)

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