Cambi signs contract expanding the delivery scope for the Veas project in Norway

25 Mar 2025 12:33 CET

Asker, Norway, 25 March 2025

Reference is made to Cambi’s stock exchange notice from 6 July 2023 regarding a
construction contract including a thermal hydrolysis process (THP) system for
Veas, Norway’s largest wastewater treatment plant.

Cambi has now signed a medium-sized contract expansion for the ongoing project,
reflecting Veas’ continued focus on solutions for sustainable and
energy-efficient wastewater sludge treatment.

The additional scope includes a process to remove ammonium from effluent water
coming from the anaerobic digestion process by recovering nitrogen into valuable
ammonium sulphate. Cambi will also deliver a backup electrical steam boiler
integrated with the THP delivery.

Cambi’s CEO, Per Lillebø, commented: “We are pleased to extend our collaboration
with Veas, leaders in sustainable wastewater sludge management. This project
demonstrates how forward-thinking utilities can unlock additional value through
integrated solutions. By leveraging Cambi’s technology and expertise, Veas is
further strengthening its ability to recover resources, enhance biogas
production, and contribute to restoring the health of the Oslo fjord.”

The contract illustrates Cambi’s ability to increase the scope of its THP
delivery projects when and where the organisation has the capacity and know-how
to do so at acceptable risk. Cambi has successfully taken on additional scope
beyond its core thermal hydrolysis technology in several recent and ongoing
projects, particularly in Scandinavia, and plans to continue doing so.

Cambi applies different commercial terms for this delivery, which mainly
consists of third-party equipment and has a gross margin lower than that of THP
technology delivery contracts.

The overall project continues to progress well, with the updated project
schedule setting the full scope delivery for the end of 2026.

For more information, please contact:
• Per Lillebø, CEO, per.lilleboe@cambi.com, +47 918 88 365
• Mats Tristan Tjemsland, CFO, mats.tjemsland@cambi.com, +47 920 67 094

Note on contract value
Category Medium
NOK million 50-100


About Cambi:

Cambi is a global supplier of biogas technology and solutions for wastewater
treatment plants and anaerobic digestion facilities. Since 1992, Cambi has
retained market leadership through continuous innovation and a robust portfolio
of proven and patented technologies. With strong project delivery and customer
support capabilities, the company has delivered many well-performing
installations in 28 countries on six continents.

Cambi’s thermal hydrolysis process increases renewable energy output, reduces
operational costs, protects public health, and minimises greenhouse gas
emissions. It is a future-proof solution suitable for all biosolids outlets,
including land application and thermal processes such as drying, pyrolysis, and
incineration. Thermal hydrolysis is compatible with all sludge and waste
treatment regulations and can be integrated smoothly at new and existing
anaerobic digestion sites.

Cambi is listed on Euronext Growth Oslo, a multilateral trading facility in
Euronext, Europe’s largest stock exchange platform. Find out more at cambi.com.

More information:
Access the news on Oslo Bors NewsWeb site

642152_2025.03.25 - Press Release - Cambi signs contract expanding the delivery scope for the Veas project in Norway.pdf