Vow ASA ("Vow") and its subsidiary, C.H. Evensen AS ("CHE"), have recently been awarded three contracts worth a total of NOK 17 million, highlighting the significance of CHE's cutting-edge technologies.
The larger of the three contracts is a NOK 10 million front-end-engineering design (FEED) agreement for a major international pyrolysis project. This project has the potential to pave the way for a process equipment contract that surpasses in size anything previously delivered by Vow, utilizing CHE's advanced pyrolysis technology.
"While the metal industry came first, we now see other industries embracing our large-scale pyrolysis solutions to an increasing degree. With this FEED contract, our customer has secured access to our expertise. We are keen and committed to providing all the support we can as they develop their project towards a final investment decision," said Henrik Badin, CEO of Vow ASA.
Additionally, CHE has successfully secured two smaller contracts for the supply of its state-of-the-art electrical hot dip galvanizing furnace. These contracts are with a global market leader in material science, specializing in steel wire transformation and coating technologies. The furnaces are set to be delivered to the client's manufacturing facilities in Brazil and China.
CHE is part of Vow's Industrial Solutions reporting segment. The contracts will be booked as order intake in the third quarter 2023.
For more information, please contact:
Henrik Badin, CEO, Vow ASA
Tel: +47 90 78 98 25
Email: henrik.badin@vowasa.com
Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: tina.tonnessen@vowasa.com
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.
Advanced technologies and solutions from Vow enable industry decarbonisation and material recovery. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company's capability to deliver is well proven.
The company is a cruise market leader in wastewater purification and valorisation of waste. It provides technology and solutions which enable industries to transition towards a fossil-free future by converting biomass and waste into valuable resources and clean energy. The company also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda.
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.
