NEWS

Vow ASA (“Vow”) subsidiary C.H. Evensen Industriovner (“C.H. Evensen”) has secured a contract to deliver a preheating furnace to an undisclosed aluminium producer. The contract is valued at almost EUR 1.3 million.

C.H. Evensen develops, designs, and produces industrial furnaces and equipment for a variety of heat treatment processes and applications. For one of the world’s leading aluminium producers, the company will deliver an electric furnace for preheating of aluminium ingots. Delivery is scheduled for Q1 2023.

“We are thrilled to supply one of the world’s leading aluminium producers with a state-of-the-art furnace. As C.H. Evensen’s technology is energy efficient, our solution is attractive from an environmental point of view. This contract demonstrates our attractiveness within industrial heat treatment,” said Henrik Wulff, managing director of C.H. Evensen.

“This is the second contract of significant size announced in just a couple of weeks, underlining the strong position C.H. Evensen has within industrial processes that demand very high temperatures. Increasing our customer base, this contract demonstrates the strong position the company has among large industrial players in power-intensive industries, who all are looking to lower their emissions,” said Henrik Badin, CEO of Vow ASA.

In addition to heat treatment furnaces and ovens, C.H. Evensen’s product range for industries to lower emissions and improve operational efficiencies comprises hot-dip galvanising solutions and pyrolysis. Lately, the company has also developed solutions within a growing market for battery production and recycling.

C.H. Evensen is contributing significantly to Vow’s ‘green technology offering’, which is expected to expand significantly in the coming years, as players across a wide range of industry verticals continue to reduce their dependence of fossil fuels and fossil carbon.

For more information, please contact

Henrik Badin, CEO, Vow ASA Tel: + 47 90 78 98 25 Email: henrik.badin@vowasa.com

Erik Magelssen, CFO, Vow ASA Tel: +47 928 88 728 Email: erik.magelssen@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.

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.

With advanced technologies and solutions, Vow turns waste into biogenetic fuels to help decarbonise industry and convert plastic waste into fuel, clean energy, and high-value pyro carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company’s 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).

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.