Contract wins in heat intensive sector

Vow ASA subsidiary C.H. Evensen continues to prove its relevance in the heat intensive industry sector, this by being awarded NOK 30 million of contracts to undisclosed blue chip recurring customers in Europe.

The bidding activity continues to be high in Vow’s Heat Solutions division, and the order backlog within this division now stands at around NOK 110 million of which a substantial part will convert to revenue in 2024 with robust margins.

Faced with high costs for energy and emissions, companies in heat intensive industries are intensifying their efforts to decarbonise. Electrification of heating processes is becoming increasingly relevant and therefore popular.

For C.H. Evensen this has meant more than doubled revenue in two years, from NOK 59 million in 2021 to NOK 121 million in 2023.