STATEMENT: The Norne Carbon Storage Center, a project of common interest according to the European Union

(Information sent by the signatory company).

STATEMENT: The Norne Carbon Storage Center, a project of common interest according to the European Union

(Information sent by the signatory company)

- The Norne Carbon Storage Center, by Fidelis New Energy, declared a project of common interest by the European Union

- The European Union has designated the Norne Carbon Storage Center as a Project of Common Interest to promote the safe and effective storage of European CO2 emissions in Denmark

COPENHAGEN; Denmark, November 28, 2023/PRNewswire/ -- The European Commission today announced that it has selected the Norne Carbon Storage Facility ("Norne") as a Project of Common Interest ("PIC"), a priority category of strategic projects of cross-border infrastructure. Launched by Fidelis New Energy ("Fidelis") in 2021, the Norne Project has been designed to be a large-scale, vertically integrated terrestrial CO2 transport and storage network in Denmark, which will support decarbonization efforts across Europe.

The PIC announcement took place in Aalborg at the EU CCUS-Forum, where Denmark, France, the Netherlands, Germany and Sweden also importantly signed the Aalborg Declaration. The Aalborg Declaration confirms the importance of European cross-border infrastructure enabling carbon capture, utilization and storage (CCUS) to achieve Danish and European climate goals.

"Although Norne is based in Denmark, our vision has always been to create a project of true common European interest, a pan-European solution that helps decarbonize Denmark, as well as our neighbors. Our receiving facilities and future gas pipelines will allow us to accept CO2 from our current Danish industry, as well as our neighbors, helping the EU achieve its climate goals. Thanks to our privileged location and geology, Denmark will become a global leader in the carbon management sector and allow investments to continue and industrial growth in northern Europe," said Ulrik Weuder, CEO of Fidelis New Energy Europe.

"We are very pleased that the Norne Carbon Storage Facility has been identified as a strategic priority by the European Union as a Project of Common Interest. CCS plays an important role in the Danish and European climate strategies to contribute to the decarbonization of difficult industries to reduce, and has a crucial role to play in helping the world achieve its climate goals. We are proud to have contributed to the creation of Norne, Denmark's first onshore CO2 PIC project," said Dan Shapiro, co-founder, CEO and managing partner of Fidelis.

"By using onshore storage, Norne enables proven, safe and environmentally friendly decarbonization of hard-to-eliminate segments of the Danish and European economy. Norne's storage network offers CO2 emitters the opportunity to decarbonize, while maintaining global competitiveness and thus preserving European jobs," added Bengt Jarlsjo, co-founder, president and COO of Fidelis.

About Fidelis New Energy

Fidelis New Energy, LLC is a decarbonization energy transition company that develops, finances, supplies, owns and operates energy transition infrastructure.

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About the Norne Carbon Storage Hub

Norne Carbon Storage Hub consists of CO2 receiving facilities, pipelines and storage facilities designed to safely and permanently store CO2. Norne will receive and store CO2 from Danish and European customers.

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