Aker Horizons cites ‘market turmoil’ after posting NOK823m Q3 loss

Aker Horizons has pointed to “significant turmoil” in the market after posting a NOK823m loss in Q3.

Kristian Røkke, CEO of Aker Horizons, said the challenging conditions have impacted capital markets and the pace of green industry development more broadly, including several of its projects.

But one cause for optimism was “strong momentum” for Aker Carbon Capture with commercial activity picking up, as witnessed by an increase in pre-FEEDs and studies, and the signing of an MOU with Aramco. Order intake for year-to-date totals around 9 million tonnes of carbon dioxide per year, while its overall order backlog has doubled to NOK3bn.

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