Vow ASA: Vow receives payment for Early Production Line at VGM’s Hønefoss plant
08 Mai 2024 - 12:27PM
Vow ASA: Vow receives payment for Early Production Line at VGM’s
Hønefoss plant
Vow ASA (OSE: VOW) is pleased to note that its
customer Vow Green Metals (VGM) today confirmed that it has secured
lease financing with SpareBank 1 SR-Bank (SR-Bank) for its Early
Production Line at Hønefoss.
With the leasing arrangement confirmed, Vow will receive payment
for its deliveries to the Early Production Line, and free up in
excess of NOK 40 million in cash in the second quarter this year.
Working capital will be reduced with a similar amount.
As previously informed, the Early Production Line has the
capacity to produce 2,500 tonnes of biocarbon per year. First
biocarbon was produced in November 2023, and the plant is currently
in the process of ramping up production.
For more information, please contact:
Henrik Badin, CEO, Vow ASATel: +47 90 78 98 25Email:
henrik.badin@vowasa.com
Tina Tønnessen, CFO, Vow ASATel: +47 406 39 556Email:
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 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).
The information is such that Vow ASA is required to disclose in
accordance with the EU Market Abuse Regulation. This information is
subject of the disclosure requirements pursuant to section 5-12 of
the Norwegian Securities Trading Act.
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