A large steel manufacturer listed in India enters into a partnership with Vow to diversify its business and enter the lucrative spice industry, a pillar of Indian exports and economy. As part of the partnership, Vow ASA's subsidiary ETIA will deliver a Safesteril spice sterilisation unit valued at around EUR 0.55 million.
The unit has the capacity to treat 1.5 tonnes of product per hour, and will be used to sterilise chilli, turmeric, seeds, and grains. The spice processing factory will be up and running by the end of this year.
"This second contract won by ETIA this month, reminds us again of the versatility of our proprietary and patented Spirajoule technology and its relevance in a wide range of industrial applications," said Henrik Badin, CEO of Vow ASA.
In Safesteril systems, Vow's patented Spirajoule electrical heating screw in combination with saturated steam removes pathogen and reduces the total amount of micro-organisms in the product. Since 2003, ETIA has delivered close to one hundred such systems to customers all over the world, representing an important after-market potential for the company.
India ranks as one of the biggest spice growers in the world and it is therefore an important market for ETIA's Safesteril. Several large Indian corporations are currently branching out into the spice industry.
Vow's Spirajoule technology is a core component in a wide range of other products and systems from Vow, including Biogreen solutions which are used for valorisation of waste and production of CO2 neutral energy and biogenic (non-fossil) carbon.
"Our Biogreen process has many applications that are potentially highly relevant also for our client's steel manufacturing business, and we are looking forward to exploring other areas of cooperation with them going forward," said Badin.
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).
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
