Vow ASA: Vow in position for Caribbean carbon recycling project
Vow ASA (ticker OSE:VOW) has signed a long-term cooperation agreement and a long-term equipment supply agreement and been selected to be the exclusive provider for large-scale Carbon Refinery® projects expected to break ground in the Caribbean in 2024.
The agreements are entered into with Circon Energy LLC (Circon) and its sister company ReCO2, LLC (ReCO2) respectively.
Multiple projects are under advanced development, the first of which will deploy 19 lines of Vow’s equipment to process feedstocks into low-carbon fuels, biochar and recovered carbon black without any direct emissions. Subject to the completion of final engineering and design works, ReCO2 anticipates executing a purchase order with Vow in the first quarter of 2024.
“We look forward to cooperating with Circon and ReCO2 to develop their business model and their portfolio of projects. We are impressed with their passion and commitment to ushering in the circular economy and their pioneering energy transition, which will produce efficient energy, reform used materials, create valuable resources, and reduce carbon footprint. Our large CHE pyrolysis reactor will be a central piece of equipment in the planned Carbon Refinery® projects,” said Henrik Badin, CEO of Vow ASA.
With Vow’s pyrolysis reactor inside, the Carbon Refinery® will be processing feedstock sourced from organic components of municipal solid wastes, plastics, end-of-life tires, storm debris, wood, and agricultural wastes into low-carbon fuels, biochar, recovered carbon black, and other coproducts.
For more information about Circon Energy, LLC, ReCO2, LLC and the planned Carbon Refinery® projects, please see the attached press release.
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 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 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).
The information is such that Vow ASA is required to disclose in accordance with the EU Market Abuse Regulation. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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