Vow ASA : Vow ASA launches Vow Industries and signs letters of intent for pioneering environmental industry at Follum, Norway
December 15, 2020 02:00 ET
| Source:
Vow ASA
Vow ASA
Lysaker, NORWAY
Vow has decided to establish a new subsidiary, Vow Industries, which will accelerate the green shift in the industry. The company will develop, own and operate facilities based on Vow’s process technology. Vow Industries' first goal is to build a factory to produce biocarbon for the metallurgical industry, CO2-neutral gas for district heating and biofuel for the petrochemical industry.
As part of this initiative, Vow has agreed letters of intent with the forest owners' association Viken Skog and the district heating company Vardar Varme. Both are central to the realization of the new factory. Viken Skog will supply biomass to the factory, which in turn will supply clean and CO2-neutral gas to Vardar Varme's district heating plant. Vow is also in dialogue with companies in the metallurgical industry about the sale of biocarbon, which will be the factory's main product.