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launched, is headed by Repsol, a leading and global multi-energy provider
headquartered in Spain.
The project involves thirteen partners from seven countries and is planned for a
five-year duration (2022-2027). Its total budget is EUR 33.3 million, of which
EUR 18 million will be funded by the EU. This project receives funding from the
European Union’s Horizon Europe Research and Innovation programme under Grant
Agreement No 101058032.
“We are proud to be included in this programme and enthusiastic about its
impact. The project is part of the European Commission’s concrete action plan
aimed at transforming the European economy towards a sustainable and circular
economy, and to become carbon neutral by 2050. We are also pleased to see this
concrete result of our partnership with Repsol, which we announced at the end of
2020,” said Henrik Badin, CEO of Vow ASA.
The plastics-to-olefins project aims to demonstrate a novel plastics recycling
process based on high-temperature ETIA Spirajoule pyrolysis technology. Olefins
are the basis for an extensive petrochemical industry and have typically been
produced from fossil hydrocarbons.
Reducing carbon emissions
The main product of the ETIA process will be a gas stream instead of a liquid.
This means that the lifecycle greenhouse gas emissions will be reduced by more
than 70 percent compared to existing plastics recycling processes for unsorted
plastic waste. Compared with the current end-of-life options for these wastes,
i.e., incineration, the climate benefits will be even greater, reducing
emissions by more than 80 percent.
Under the Horizon Europe programme, the thirteen partners will design, build,
and run a demonstration plant for recycling of unsorted plastic waste at a
Repsol’s petrochemical site in Spain. The plant will run on 100 percent
renewable electric energy and be digitalised to achieve system integration and
optimisation.
Partnerships that transform industries
“In many ways, our partnership with Repsol reminds me of relationships we
started two decades ago with leading cruise ship operators, and which have
brought forward environmental solutions which means that cruise ships today are
able to operate without any emission of wastewater to sea”, said Henrik Badin.
Vow has delivered and services clean ship solutions on board 130 cruise ships,
some of them among the largest in the world. Among the larger cruise ships, Vow
has a market share of around 70 percent, according to company estimates.
“Together with Repsol and other visionary and committed partners, we are
developing technologies which have the potential to transform many landbased
industries in similar ways and pyrolysis is core in many of these applications.
Our pyrolysis solutions are able to handle different types of feedstocks and
produce a wide range of circular carbon products and CO2 neutral energy,” Badin
said.
Versatile technology
In Norway, Vow is currently delivering equipment to Europe’s largest biocarbon
plant, which is being built and will be operated by Vow Green Metals, a company
which was originally launched by Vow, and which is now a separate company. The
biocarbon will be used by Elkem, a leading advanced materials company as
reduction agent in its metallurgical processes.
In the US, Vow recently secured a contract to deliver a pyrolysis solution for
production of CO2 neutral energy and biochar for soil improvements. In France,
the company is working with Europe’s second largest gas distributor GRTgaz to
qualify pyrolysis gas as replacement for fossil natural gas in the European gas
grid. And elsewhere in Europe, Vow is working with Vow Green Metals and an
undisclosed metals producer to qualify its pyrolysis solution for production of
advanced biocarbon which could replace fossil coal as reduction agent for
production of non-ferrous metals.
“These and other ongoing projects are examples of the versatility of our
pyrolysis offering and the depth of our competence within this field. With the
recent acquisition of C.H. Evensen we added a large-scale pyrolysis reactor to
our product range, which from before featured ETIA’s Biogreen solution and
Scanship’s MAP, a microwave assisted pyrolysis solution,” Badin explained.
For more information, please contact:
Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Email: henrik.badin@vowasa.com
Erik Magelssen, CFO, Vow ASA
Tel: +47 928 88 728
Email: erik.magelssen@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.
Cruise ships on every ocean have Vow technology inside which processes waste and
purifies wastewater. Fish farmers are adopting similar solutions, and public
utilities and industries use our solutions for sludge processing, waste
management and biogas production on land.
With advanced technologies and solutions, Vow turns waste into biogenetic fuels
to help decarbonise industry and convert plastic waste into fuel, clean energy,
and high-value pyro carbon. The solutions are scalable, standardised, patented,
and thoroughly documented, and the company’s capability to deliver is well
proven. They are key to end waste and stop pollution.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange
(ticker VOW).
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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