NEWS

Scanship AS has achieved a significant milestone today by securing a change order worth EUR 2.1 million from a prominent European shipyard.

This is a change order to two existing contracts in the company's backlog. With this change order, the total scope of the largest contract now amounts to EUR 10.4 million, ranking it as the largest single technology supply contract ever awarded to Scanship for a cruise ship under construction.

"This is more than double the average size of contracts only a few years back. It confirms a trend we see among shipowners and shipyards to include more advanced climate and cleantech technology and solutions aboard the cruise ships. With increased emphasis on environmentally sustainable practices and innovative technologies, and construction of even larger ships, our offering is becoming increasingly relevant and attractive," said Henrik Badin, CEO of Vow ASA.

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).