Vow secures long-term funding to expand operations for large-scale industry projects

Vow has secured NOK 620 million long-term financing with DNB, Norway’s largest financial services group, providing a strong financial foundation and support to Vow’s planned growth.

"Over the past few years, Vow has become a key partner and provider of technology to large energy companies and process industry. They expect us to provide solutions that allow them to transform their business models, adapt to new regulatory requirements, environmental standards, and climate concerns, and adopt circular solutions. In order to meet their expectations, Vow will continue to grow," said Henrik Badin, CEO of Vow ASA.

The debt package consists of a NOK 380 million term loan, a NOK 160 million overdraft facility and a NOK 80 million trade finance facility. It will be used to refinance existing loans and support the company’s planned growth and working capital needs. The financing facilities are at attractive terms, similar to those offered in 2021.

The term loan will be classified as "green financing" within the DNB Sustainable Product Framework. This framework includes a verification by DNV, the assurance and risk management company, and is based on the international Green Loan Principles (GLP).

"We appreciate the partnership with DNB. By making such green financing available for us, they support our contribution to the energy transition and transformation of industry. We also consider this a recognition of the work that our team is doing to make our own operations more sustainable," said Mr. Badin.

For more information, please contact:

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

Tina Tønnessen, CFO, Vow ASA Tel: +47 406 395 56 Email: tina.tonnessen@vowasa.com