OSLO, NORWAY: Vow ASA has entered into an agreement with an undisclosed North American renewable energy company to deliver a complete biocarbon production system within the United States valued at USD 27 million.
This is the largest single landbased contract signed to date by Vow, and a breakthrough for Vow technology in landbased applications in the US. Engineering of this industry scale system starts immediately. Timing of subsequent stages in the project are pending government permits and final design.
“In Vow we have been fortunate to work with great entrepreneurial minds in the cruise industry for decades, inventing technologies for cleaner oceans. We are now embarking on a similar journey with landbased industries in the US, aiming at converting waste and biomass into renewable energy and biocarbon for many industrial applications,” said Henrik Badin, CEO of Vow ASA.
According to the agreement, Vow will deliver four state-of-the-art BioGreen lines with full upstream and downstream processing, including systems for storage, drying, shredding of feedstock, and cooling and bagging system.
The project currently under development is the first of its kind for Vow in the US, and a key strategic opportunity to make economic and environmental impact in the US market.
The biocarbon produced in the plants will be used in several markets currently under development by an expert team assembled by the new US partner. In addition to direct revenue for the biocarbon, the partnership will produce carbon credits.
In Europe, Vow ASA is currently in the process of delivering similar equipment for an advanced biocarbon production plant at Follum, an industrial site near Oslo, Norway.
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