Vow ASA (OSE: VOW) subsidiary Scanship AS has been awarded a contract with a major European shipyard to deliver technology on what will be one of the world's largest cruise ships under construction.
The contract covers equipment delivery in 2024 for a first ship and was first mentioned by Vow as an option in 2019. According to the new contract, the customer may order similar equipment for delivery to yet another ship in 2025. The total combined value of the firm order and the option for delivery to a second ship is EUR 19.3 million.
"We are very pleased to announce this repeat order and option, which we see as a confirmation of our long-standing relationship with leading cruise industry yards and operators. We will do our utmost to continue to deserve the trust of such industry leaders, as we deliver state-of-the-art environmental solutions to the cruise industry," said Henrik Badin, CEO of Vow ASA.
"With Scanship technology onboard, all wastewater on the ships will be purified according to the requirements in the Baltic Sea and Alaskan State waters, which are to date the highest standards at sea. All residue sludge from the wastewater, along with food waste and other biogenic waste from hotel operations, will undergo several processing steps such as dewatering, homogenization, thermal hydrolysis, drying, and pyrolysis," he explained.
The end products are climate neutral energy and carbon for capture and storage CCS. The waste management system further enhances the abord circular economy, recovering valuable commodities such as glass and aluminium for landing.
The state-of-the-art system is a fully integrated clean ship solution for more than 10,000 people at sea, ensuring compliance with all maritime environmental requirements, reducing greenhouse gas emissions, recovering important resources from waste, and preventing pollution.
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).
The information is such that Vow ASA is required to disclose in accordance with the EU Market Abuse Regulation. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
