Vow ASA: Leading hydrocarbon company selects Vow technology to convert plastic waste into fuel

Vow ASA: Leading hydrocarbon company selects Vow technology to convert plastic waste into fuel

15 Jul 2024 15:04 CEST

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Issuer

Vow ASA

Oslo, Compiègne, 15 July 2024: ETIA Ecotechnologies, a subsidiary of Vow ASA
(OSE: VOW) has signed a partnership and services and supply agreement with a
leading international independent hydrocarbon company operating globally to
further advancing plastic-to-fuel conversion technology towards industry-scale
application.

The services and supply agreement, which is valued at around EUR 1.5 million,
includes a six-month trial period at ETIA's test site in France and the shipment
of a first unit that will be installed in a plastic waste recycling project
outside France. The hydrocarbon company has laid out plans to deploy more than
ten similar units in Africa and Latin America.

The agreement follows more than two years of joint research at pilot scale,
resulting in the undisclosed hydrocarbon company decision to select ETIA's
pyrolysis technology for its plastic waste-to-fuel projects. By implementing
such solutions, the hydrocarbon company will be providing a circular solution
for plastic waste in the countries where it operates, and produce fuel for own
consumption, thereby reducing its CO2 footprint.

"With the execution of this agreement, the project is now entering its
pre-industrial test phase before the first unit becomes operational. Our plastic
waste-to-fuel solution is based on a low temperature process which is
complementary to other solutions provided by Vow, proving the relevance of Vow's
thermo-chemical technologies to decarbonize several industry verticals and
develop circular solutions," Henrik Badin added.

Pending a successful test in France, the first unit will be installed on
location outside of France, while ETIA will continue to provide maintenance
support, spare parts, and training of personnel. For the next potential
projects, ETIA would deliver its pyrolysis reactor technology into a
standardised plastic waste valorisation plant with capacity around 3 tons a day.

Plastic waste is a major environmental issue globally, with 4-8 percent of
annual global oil consumption associated with plastics, according to the World
Economic Forum. Humans produce over 400 million tons of plastic waste every
year, according to the United Nations Environment Program. It is estimated that
eight million tons of plastics end up in the oceans, causing devastating effects
for wildlife and the food chain.

For more information, please contact

Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Email: [e-mail]

Tina Tønnessen, CFO, Vow ASA
Tel: [phone]
Email: [e-mail]

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).

More information:
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Source

Vow ASA

Provider

Oslo Børs Newspoint

Company Name

VOW

ISIN

NO0010708068

Symbol

VOW

Market

Oslo Børs