NEWS

Vow ASA subsidiary C.H. Evensen Industriovner (C.H. Evensen) continues to gain ground in a growing market for electrification of heat treatment processes. Of seven significant contracts awarded since summer, six are for industrial customers in Europe and one in the US.

The most recent contract for a customer in Belgium is valued at NOK 12 million. The total value of the seven contracts amounts to NOK 35 million. Other European countries served include Greece, Germany, Romania, Norway and Sweden.

"We continue to see strong and increasing demand for our solutions as companies in various heat-intensive industries are transitioning from fossil to renewable fuels. In the corresponding period last year, our order intake was around NOK 20 million, and bidding activity remains high," said Henrik Wulff, managing director of C.H. Evensen.

C.H. Evensen is part of Vow's Industrial solutions segment.

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 recycling. 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 also has strong niche positions in food safety 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).