Vow's subsidiary ETIA has today entered into a supply agreement with Circular Carbon (Würzburg, Germany), member of econnext group, for the delivery of a Biomass Energy System to be owned and operated by Circular Carbon, for the processing of cocoa shells from the food industry.
The Biomass Energy System, delivered by ETIA, will create a strong environmental impact by enabling Circular Carbon to help its clients reduce industry carbon footprint by offsetting natural gas and the production of biochar (reducing CO2 emissions). The Biomass Energy System comprises ETIA's Biogreen carbonization unit producing biochar and steam (to be used in the local food production).
"The delivery, within this food industry vertical, will demonstrate the relevance and value of Vow Group's decarbonisation technologies in the food processing industry", says Vow's CEO, Mr. Henrik Badin.
"The agreement between ETIA and Circular Carbon manifests the beginning of a mutually valuable cooperation for decarbonisation of industrial processes in the food sector, and the parties are happy to have successfully concluded the engineering study, as well as the pan-European negotiations, despite the exceptional times we are living in", says Circular Carbon's CEO, Mr. Felix Ertl.
"Our vision is to build companies with a positive impact on society and the environment, and we are very pleased to see Circular Carbon enter into this cooperation with ETIA and Vow Group", says Dr. Jobst von Hoyningen-Huene, Co-CEO/Co-Founder of econnext, the majority owner of Circular Carbon.
The Biomass Energy System is scheduled to be delivered and commissioned 2021. The value of this first supply agreement with Circular Carbon is in the region of EUR 2.4 million.
For further queries, please contact:
Henrik Badin - CEO
Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com
About Vow ASA
In Vow and our subsidiaries Scanship and Etia we are passionate about preventing pollution. Our 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.
Our ambitions go further than this. With our advanced technologies and solutions, we turn waste into biogenetic fuels to help decarbonize industry and convert plastic waste into fuel, clean energy and high-value pyro carbon.
Our solutions are scalable, standardized, patented and thoroughly documented, and our 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 from 13 January 2020). The Vow group has 120 employees in Norway, France, Poland and the US.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
