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    VGM   NO0011037483

VOW GREEN METALS AS

(VGM)
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Vow Green Metals AS : - Follum equipment order

10/22/2021 | 07:32am EST
Vow Green Metals AS - Follum equipment order 

Oslo, 22 October 2021Vow Green Metals AS is pleased to announce that the company have now formally
signed the contract for the process equipment for the Follum project. According
to which Vow ASA will deliver process equipment and engineering support to Vow
Green Metals' biocarbon plant at Follum in Norway. The contract is valued at NOK
215 million.

"It is with great satisfaction that we now confirm that the contract is signed,
and that construction of equipment is well underway. It is less than a year
since we first announced the partnership with local industry at Follum and
advanced materials producer Elkem, and our plans to build this unique plant for
production of CO2 neutral biocarbon. This is an ideal reduction agent which will
help metallurgical industry decarbonise," said Cecilie Jonassen, CEO of Vow
Green Metals AS.

The equipment will be completed and shipped to Norway during 2022. 

"This is the first major contract awarded by Vow Green Metals since the company
was listed on Euronext Growth in July this year. It is an important milestone in
our plans to support visionary and environmentally concerned industry players in
their efforts to meet new demands and expectations from owners, customers and
other stakeholders," said Cecilie Jonassen, CEO of Vow Green Metals AS.

For more information, please contact:
Lars Mårdalen, CFO, Vow Green Metals AS
Tel: +47 91 10 77 02
Email: lars.mardalen@vowgreenmetals.com

About Vow Green Metals ASVow Green Metals AS build, own, and operate plants that produce high value
biocarbon for the metallurgical industry. In order to decarbonise the
metallurgical industry, there is a growing global interest in large scale
pyrolysis plants, motivated by both environmentally friendly treatment methods
for waste and for the production of biocarbon. Vow Green Metals AS aims to
provide solutions for the metallurgical industry and to meet the growing demand
for industry decarbonising.

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
VOW ASA -9.53% 20.32 Real-time Quote.-4.26%
VOW GREEN METALS AS -8.75% 3.349 Real-time Quote.0.56%
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Financials
Sales 2021 - - -
Net income 2021 -1,00 M -0,11 M -0,11 M
Net cash 2021 149 M 16,6 M 16,6 M
P/E ratio 2021 -552x
Yield 2021 -
Capitalization 552 M 61,2 M 61,4 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float -
Chart VOW GREEN METALS AS
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 3,35 NOK
Average target price 9,00 NOK
Spread / Average Target 169%
EPS Revisions
Managers and Directors
Cecilie Jonassen Chief Executive Officer
Narve Reiten Chairman
Elise Must Director