Vow Green Metals AS: Annual Report 2022

27 Apr 2023 07:00 CEST

Vow Green Metals AS (“Vow Green Metals” or the “Company”) today publishes its
Annual Report 2022, which includes consolidated accounts for the Company,
sustainability report and the independent auditor’s report.

In her letter to the shareholders and stakeholders, Vow Green Metals’ Chief
Executive Officer, Cecilie Jonassen, writes:

“Vow Green Metals hit the ground running and are entering 2023 prepared to
produce and deliver biocarbon at an industrial scale already in the third
quarter. We are also starting the construction phase of one of Europe’s largest
biocarbon facilities as we continue to make significant strides in our mission
to accelerate the world’s transition to renewable materials by spearheading the
development of a rapidly growing biocarbon industry.”

With unique access to proven technology and standardized solutions, and a
growing pipeline totaling 600,000 tons of biocarbon production capacity, the
Company is well-positioned for further growth.

“Backed by favorable industrial trends and strong regulatory tailwinds, we
expect the demand and price competitiveness of biocarbon to increase
significantly. The cost of CO2 emissions in Europe has grown rapidly and is
expected to continue its path for years to come, meaning that the cost of using
fossil reduction materials is on the rise. As coal is phased out as an energy
source, it will also become increasingly difficult to source high-quality coal
needed for metal production. At the same time, the green transition and other
macro trends, like the rise of the middle class worldwide, are creating a push
in demand for sustainable metal-based materials to be used in transportation and
electronics, and silicon-based renewable technologies, such as solar PV,”
Jonassen adds.

The reports are attached and are also available on:
https://www.vowgreenmetals.com/investors/results-and-presentations

ENDS

For more information, please contact
Cecilie Jonassen, CEO, Vow Green Metals AS Tel: + 47 954 20 126
Email: cecilie.jonassen@vowgreenmetals.com

About Vow Green Metals
Vow Green Metals’ strategy is to be a leading producer of biocarbon and other
carbon neutral products that enables the green transition in hard-to-abate
industries. We are on a mission to accelerate the world’s transition to
renewable materials by offering green alternatives to replace fossil reduction
agents in the metallurgical industry. The core of our business is to build, own
and operate biocarbon production plants using state-of-the-art pyrolysis
technology to turn biomass and biomass waste-streams into our core product,
biocarbon. Our biocarbon production process also creates other valuable products
like bio-oil and bioenergy. With our standardized solutions, unique access to
proprietary technology, and a growing global pipeline of projects, we are
upholding our first mover position in a growing market where speed and scale
will be determining factors. Vow Green Metals is building a new biocarbon
industry on the shoulders of its main owner and technology partner, Vow ASA,
which provides access to competence and capabilities acquired through decades of
industrial innovation.

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

More information:
Access the news on Oslo Bors NewsWeb site

588693_VOW GREEN METALS - ANNUAL REPORT 2022.pdf