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WKN: A111AY ISIN: NO0010708068 Ticker-Symbol: 213 
Tradegate
30.11.20
21:26 Uhr
3,080 Euro
+0,125
+4,23 %
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3,0403,08021:15
3,0403,08021:27
GlobeNewswire (Europe)
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Vow ASA: Unique teamwork will convert plastic to electricity in Indonesia

Vow ASA and Tinfos AS has entered into a cooperation agreement to distribute Vow's onshore 'Plastic to Electricity' solution in selected countries and markets, starting with Indonesia.

Vow offers a wide range of technologies and solutions which converts different waste materials into valuable raw materials and clean energy. These days, handling of plastic waste is a particularly relevant topic in the company's dialogue with customers.

The solution which will be offered in Indonesia is mobile and container based. It basically converts plastic waste to electricity through pyrolysis. The solution will replace diesel in local power production. Similar container based units are already in use as part of a pilot project at the municipal waste company Lindum's facilities outside Drammen, Norway, and at Vow's own facility at Vernon, France.

"We are looking forward to working with Tinfos AS and deliver such ground-breaking technology and solutions to a significant problem in many communities. The main objective is to solve local plastic waste problems to prevent this entering our oceans, at the same time to generate energy. This means that we give plastic waste an economic value for the local communities and an incentive to solve the problem. We expect that the cooperation agreement will result in delivery of several such units in the course of the coming years, said Henrik Badin, CEO of Vow ASA.

Tinfos AS is one of Norway's oldest companies and among the first in the world to generate renewable energy in form of electricity from hydro power. Today, the company is involved in development and operation of run-of-river hydro power stations in Norway and abroad. Outside Norway, Tinfos AS is particularly engaged in Indonesia where the company has operated since 2009, and in Western Balkan.

"For a long period of time, Tinfos AS has witnessed with grave concern how lack of solutions for collection and handling of plastic has led to significant damage to the environment, both on shore and in the sea around Indonesia," said Øyvind Frydenberg, CEO in Tinfos AS.

"By using Vow's solutions for 'Plastic to Electricity', Tinfos AS wishes to contribute to solving this challenge, and at the same time provide meaningful jobs for local waste collectors in Indonesia," he added.

Tinfos AS sees strong synergies between the company's ongoing activities related to development and operation of run-of-river powerplants in Indonesia and Vow's solutions. Indonesia comprises around 17 000 islands with a complex logistics, which makes Vow's 'plug-and-play' solutions particularly relevant.

For further queries, please contact

Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Email: henrik.badin@vowasa.com

Øyvind Frydenberg, CEO Tinfos AS
Tel: + 47 93 44 37 49
Email: oyvind.frydenberg@tinfos.no


About Vow ASA

In Vow and our subsidiaries Scanship and Etia we are passionate about preventing pollution and giving waste value. 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).

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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© 2020 GlobeNewswire (Europe)
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