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Vow ASA — M&A Activity 2022
May 16, 2022
3785_iss_2022-05-16_8d210430-e417-4c8c-816e-f160052321c8.html
M&A Activity
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Vow ASA: Largest single landbased contract in Vow's history marks breakthrough in the US
Vow ASA: Largest single landbased contract in Vow's history marks breakthrough in the US
Vow ASA ("Vow", ticker OSE: VOW) has entered into an agreement with an
undisclosed North American renewable energy company to deliver a complete
biocarbon production system within the United States valued at USD 27 million.
This is the largest single landbased contract signed to date by Vow, and a
breakthrough for Vow technology in landbased applications in the US. Engineering
of this industry scale system starts immediately. Timing of subsequent stages in
the project are pending government permits and final design.
"In Vow we have been fortunate to work with great entrepreneurial minds in the
cruise industry for decades, inventing technologies for cleaner oceans. We are
now embarking on a similar journey with landbased industries in the US, aiming
at converting waste and biomass into renewable energy and biocarbon for many
industrial applications," said Henrik Badin, CEO of Vow ASA.
According to the agreement, Vow will deliver four state-of-the-art BioGreen
lines with full upstream and downstream processing, including systems for
storage, drying, shredding of feedstock, and cooling and bagging system.
The project currently under development is the first of its kind for Vow in the
US, and a key strategic opportunity to make economic and environmental impact in
the US market.
The biocarbon produced in the plants will be used in several markets currently
under development by an expert team assembled by the new US partner. In addition
to direct revenue for the biocarbon, the partnership will produce carbon
credits.
In Europe, Vow is currently in the process of delivering similar equipment for
an advanced biocarbon production plant at Follum, an industrial site near Oslo,
Norway.
For more information, please contact
Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Email: [email protected]
Erik Magelssen, CFO, Vow ASA
Tel: +47 928 88 728
Email: [email protected]
About Vow
Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about
preventing pollution. The company's world leading solutions convert biomass and
waste into valuable resources and generate clean energy for a wide range of
industries.
Cruise ships on every ocean have Vow technology inside which processes waste and
purifies wastewater. Fish farmers are adopting similar solutions, and public
utilities and industries use our solutions for sludge processing, waste
management and biogas production on land.
With advanced technologies and solutions, Vow turns waste into biogenetic fuels
to help decarbonise industry and convert plastic waste into fuel, clean energy,
and high-value pyro carbon. The solutions are scalable, standardised, patented,
and thoroughly documented, and the company's capability to deliver is well
proven. They are key to end waste and stop pollution.
Located at Lysaker outside Oslo, the parent company Vow ASA is listed on the
Oslo Stock Exchange (ticker VOW).
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.