Vow ASA: Vow subsidiary CHE awarded multiple contracts

21 Dec 2022 07:20 CET

So far in December, Vow ASA ("Vow") subsidiary C.H. Evensen AS (CHE), a
specialist in heat treatment solutions, has been awarded five large orders for
advanced technology to leading industry players. The orders have a combined
value of NOK 57 million.

The two larger orders, each valued at around NOK 20 million, are for a hot-dip
galvanising system to an unnamed customer in Northern Ireland and an unnamed
Swedish customer in metals manufacturing. The other three orders are for
ThyssenKrupp in Germany, and unnamed customers in Sweden and Norway.

"We are experiencing strong demand for our state-of-the-art technology from
energy intensive industrial sectors, such as manufacturing and metals
production. With soaring energy costs and a growing demand for low-carbon
solutions, our solutions are seen as instrumental to improve cost efficiency,"
said Henrik Badin, CEO of Vow ASA.

CHE develop, design, and fabricate industrial furnaces and equipment for heat
treatment processes, and the company is also specialists in hot-dip galvanizing.
The company develops furnaces powered by electricity, gas, or oil, which can
heat the product by either radiant heating or forced air recirculation. Within
hot-dip galvanising, the company has special core competence within spin
galvanizing, machines for automatic galvanizing of threaded bolts, and pipes.

"Order intake this year has been very strong. C.H. Evensen entered this year
with an order backlog of NOK 58 million. Now twelve months later, we estimate
our backlog at NOK 130 million," said Henrik Wulff, Managing Director of C.H.
Evensen AS.

This backlog is reported as part of Vow's Landbased segment and does not include
CHE's deliveries to other parts of Vow.


For more information, please contact:

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

Erik Magelssen, CFO, Vow ASA
Tel: +47 928 88 728
Email: erik.magelssen@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).


This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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