Vow ASA: Service agreement signed for first large-scale Carbon Refinery® project in the Caribbean

05 Sep 2024 08:00 CEST

Oslo, 5 September 2024 - Vow ASA (ticked OSE: VOW) has signed service agreements
to participate in a front-end engineering and design (FEED) study for a large-
scale Carbon Refinery® project in the Caribbean. The agreements which are
entered into with Circon Energy LLC (Circon) and its sister company ReCO2, LLC
(ReCO2) respectively, are extensions of a cooperation agreement signed last year
(see stock exchange announcement 28 November 2023).

This FEED is for the first of potentially multiple plants under development by
Circon and ReCO2. The first plant will deploy 12-19 lines of Vow equipment, and
process various feedstocks into low-carbon fuels, biochar and recovered carbon
black, all without any direct emissions.

"We are extremely excited to see that the project is developing and progressing
with our dedicated partners at Circon and ReCO2. It has been a long time coming,
but we are finally taking the next step towards realising this first project in
the Caribbean," 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.

"Circon is excited about this milestone and to have Vow as a valued partner
through our development process and now for our final engineering preparations
to execute this project" said David L. Duren. "Our engagement with Henrik and
his leadership team has been vital in advancing these projects. Vow's technology
and expertise outpaces global sentiment for "green ideas" and delivers true
impact. With our recent funding and Vow's full engagement, Circon is rapidly
advancing its Caribbean projects. These projects will deliver sustainable
social, financial, and technical consequences, with meaningful and measurable
results. When most companies only promise to do good things, Vow is helping
Circon to deliver credible solutions."


For more information, please contact

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


Tina Tønnessen, CFO, Vow ASA
Tel: +47 406 39 556
Email: tina.tonnessen@vowasa.com (mailto: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 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).

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