NEWS

A subsidiary of Vow ASA (OSE: VOW) has received two purchase orders from a large Japanese corporation for advanced pyrolysis equipment, which will be used for treatment of sewage sludge. The combined value is EUR 2.9 million.

The Japanese corporation is engaged in the water and wastewater treatment business, and has cooperated with Vow for some time, promoting Vow's proprietary technology for pyrolysis of sludge in wastewater purification plants in Japan. The Vow group technology was used by the Japanese corporation in a pilot plant in 2019. The current contracts are the first major purchase orders to be signed under this partnership. The equipment is scheduled for delivery in the first quarter of 2024.

"With our proprietary pyrolysis technology, sewage sludge is transformed to biogenic coal which in turn replaces fossil fuel in coal fired power plants. We are very proud to have been selected by our Japanese partner to provide our advanced pyrolysis technology to two of their projects," said Henrik Badin, CEO of Vow ASA.

The technology in question, Biogreen, is patented by Vow's wholly owned subsidiary ETIA Ecotechnologies and has been in the market since 2003. The Biogreen technology is highly versatile and can be used to decarbonise many industrial processes, such as converting plastics, waste, and biomass into renewable carbon materials and fossil-free energy.

"Japan has an impressive position in technology and industry, and we are pleased to see that our advanced solutions have again attracted interest from a leading industrial corporation in the country. At the end of last year, we teamed up with ETEL, a subsidiary of Japan's Itochu in the end-of life tyre business. Now, another prominent player has selected Vow technology for its water and wastewater treatment business," said Badin.

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.

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 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).