Vow ASA: Order received to double production capacity at VGM’s Follum factory

Vow ASA is pleased to announce that it has received an order from Vow Green Metals AS to enhance the production capacity at their biocarbon production plant in H?nefoss, Norway.

This order is an extension of the equipment order received in October 2021, resulting in a new total contract value of NOK 332 million.

In addition to some modification on the original equipment order, the expansion will involve the addition of a new process line, effectively doubling the factory's capacity. This will enable the production of up to 20,000 tons of biocarbon annually.

The increased capacity is made possible by utilizing self-sufficient renewable gas to power the new reactor technology developed and manufactured by Vow's subsidiary, C. H. Evensen Industriovner AS. This ensures that the expanded capacity remains within the site's power supply limits.

Henrik Badin, CEO of Vow ASA, expressed enthusiasm for this solution, emphasizing its ability to enhance efficiency, significantly increase capacity, and potentially accelerate the scale-up for Vow Green Metals.

The equipment included in this order is expected to be delivered in 2024 and will be reported as part of Vow's Industrial segment.

It is important to note that the Follum plant will be constructed, owned, and operated by Vow Green Metals AS, in which Vow ASA holds 50.173.890 shares.