Vow Green Metals announced a new large-scale project in Norway

18 Sep 2024 23:37 CEST

Vow Green Metals today announced a new large-scale project, adding an annual
production capacity of 30,000 tons of biocarbon to its portfolio of key
projects. Located at Eiktyr Industrial Park at Orkland, central Norway, the
project is part of a circular green industry supercluster together with five
other industrial companies; Elinor Batteries, Norsk e-Fuel, Norsk
Industriutvikling, Vala Bio and Green Move.

Today, the CEOs of the six companies met with the Norwegian Minister of Trade
and Industry, Cecilie Myrseth, before formally signing a collaboration agreement
at the regional industry and business conference, Thamskonferansen. The
companies within the cluster will jointly develop green industries at scale
while leveraging the industrial symbiosis and ecosystem at Eiktyr Industrial
Park. Initial studies conducted by the six companies indicate significant
synergies from utilizing energy and resources from the recovery and reuse of
residual products.

The industrial establishment will enable up to 500,000 tons of annual emission
reductions and create around 1,000 new local jobs. The aim is to ensure that all
energy produced within the cluster will be utilized two times.
Vow Green Metals has completed a feasibility study for a large-scale biocarbon
facility at Eiktyr Industrial Park with an annual production capacity of 30,000
tons of biocarbon and is currently entering a pre-study phase, maturing the
project towards final investment decision (FID) by the end of 2025.

“At Vow Green Metals, we are producing biocarbon in Norway as we speak. We are
proud to contribute to large industries, that are important to all of us, being
able to speed up the transition from fossil coal to the use of biocarbon. In
line with our expansion plans, we are continuously looking for attractive
industrial sites that facilitate green industrial development in symbiosis with
other industry players. For more than a year we have been working with Eiktyr
industrial park and we are pleased to announce Eiktyr Industrial Park as the
latest addition to our portfolio of key projects in Norway”, said CEO of Vow
Green Metals, Cecilie Jonassen.

Vow Green Metals’ key projects portfolio now consists of four projects with a
combined annual biocarbon production capacity exceeding 80,000 tons, making the
company well-placed to reach its 2028 target of realizing projects with a
combined production capacity of 200,000 tons:

• Hønefoss early production line (2,500 tons p.a.)
• Hønefoss large-scale project (20,000 tons p.a. -10,000 first phase)
• Viken Park (30,000 tons p.a.)
• Eiktyr Industrial Park (30,000 tons p.a.)

For further information, please contact:
Mathias Nilsen Reierth, Director of Corporate Affairs and Commercial, Vow Green
Metals AS
Tel: + 47 988 05 724
Email: mathias.reierth@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.

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