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Vow ASA — M&A Activity 2022
May 3, 2022
3785_iss_2022-05-03_ddbf8197-24cc-4d23-9760-46ad85ca5a57.html
M&A Activity
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Vow ASA: VOW SUBSIDIARY C.H. EVENSEN SECURES CONTRACT WITH LEADING ALUMINIUM PRODUCER
Vow ASA: VOW SUBSIDIARY C.H. EVENSEN SECURES CONTRACT WITH LEADING ALUMINIUM PRODUCER
Vow ASA ("Vow") subsidiary C.H. Evensen Industriovner ("C.H. Evensen") has
secured a contract to deliver a preheating furnace to an undisclosed aluminium
producer. The contract is valued at almost EUR 1.3 million.
C.H. Evensen develops, designs, and produces industrial furnaces and equipment
for a variety of heat treatment processes and applications. For one of the
world's leading aluminium producers, the company will deliver an electric
furnace for preheating of aluminium ingots. Delivery is scheduled for Q1 2023.
"We are thrilled to supply one of the world's leading aluminium producers with a
state-of-the-art furnace. As C.H. Evensen's technology is energy efficient, our
solution is attractive from an environmental point of view. This contract
demonstrates our attractiveness within industrial heat treatment," said Henrik
Wulff, managing director of C.H. Evensen.
"This is the second contract of significant size announced in just a couple of
weeks, underlining the strong position C.H. Evensen has within industrial
processes that demand very high temperatures. Increasing our customer base, this
contract demonstrates the strong position the company has among large industrial
players in power-intensive industries, who all are looking to lower their
emissions," said Henrik Badin, CEO of Vow ASA.
In addition to heat treatment furnaces and ovens, C.H. Evensen's product range
for industries to lower emissions and improve operational efficiencies comprises
hot-dip galvanising solutions and pyrolysis. Lately, the company has also
developed solutions within a growing market for battery production and
recycling.
C.H. Evensen is contributing significantly to Vow's 'green technology offering',
which is expected to expand significantly in the coming years, as players across
a wide range of industry verticals continue to reduce their dependence of fossil
fuels and fossil carbon.
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 in 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.