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Vow ASA: Two Hot Dip Galvanising Contracts for Vow Subsidiary C.H. Evensen

May 20th, 2022

Vow ASA (“Vow”) subsidiary C.H. Evensen Industriovner (“C.H. Evensen”) has secured two contracts to deliver electrical hot dip galvanising furnaces to undisclosed industrial customers in Austria and Germany respectively. The combined value of the two contracts is NOK 6 million.

C.H. Evensen develops, designs, and produces industrial furnaces and equipment for a variety of heat treatment processes and applications, including world leading technology for electrical hot dip galvanising, an industrial process that protects metal from corrosion.

“As industry across Europe is decarbonising and diversifying their energy sources, we see a clear shift away from furnaces powered by fossil natural gas, and increased interest, activity, and demand for our electrical solutions. Electricity is considered more flexible and offers the possibility of powering the heating process with sustainable green energy,” said Henrik Wulff, managing director of C.H. Evensen.

C.H. Evensen has extensive experience and expertise with electrical furnaces for a variety of industrial purposes. The company’s competence on electrical processes dates to the early 1950’s when the company became an important supplier to and integral part of the Norwegian aluminium industry, which to a large degree is powered by electricity from hydropower stations.

“C.H. Evensen’s recent and repeated success in this field is the result of the decarbonising efforts of heat intensive industries across Europe, and proof of C.H. Evensen’s strong position. The company has a proven track record and is broadly recognised as a world leader within this area,” said Henrik Badin, CEO of Vow ASA.

In addition to hot dip galvanising furnaces, C.H. Evensen offer a wide range of heat treatment furnaces and ovens which lower emissions and improve operational efficiency, including pyrolysis technology.

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.

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BUSINESS INQUIRIES

Henrik Badin

Chief Executive Officer (CEO)

+47 90 78 98 25

henrik.badin@vowasa.com
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