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Vow ASA: Vow receives modification order for hybrid heating system to decarbonize the hot-dip galvanizing industry

September 21st, 2023

Vow ASA ("Vow") subsidiary, C.H. Evensen AS ("CHE") is pleased to announce that it has received a modification order for a state-of-the-art hybrid heating system on a hot-dip galvanizing furnace. This modification is an addition to the previously announced furnace contract award in December 2022. The hybrid system enables the furnace to operate at full production capacity using both electric power and gas heating, while running entirely on renewable energy.

Upon delivery to the esteemed customer, LCC Group in Cookstown, Northern Ireland, in 2024, this furnace valued at NOK 24 million will become the largest of its kind in the world.

Henrik Badin, CEO of Vow ASA, expressed his pride in assisting the heat demanding industry in transitioning to fossil-free solutions, overcoming what was once deemed nearly impossible. He emphasized that this achievement aligns with Vow's mission to diversify industries and minimize their environmental impact.

The modification order falls under Vow's Industrial Solutions reporting segment and will be recorded as order intake in the third quarter of 2023.

For more information, please contact:

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

Tina T√łnnessen, 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).

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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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