Vow Green Metals (the "Company"), a leading developer of production facilities
for biocarbon and other carbon-neutral products, and Vardar AS, a regional
renewable energy producer with operations and ownership within bioenergy, CCU,
wind, solar and hydropower, have signed a long-term energy offtake agreement
securing offtake of all excess energy produced from the production facility at
Hønefoss.
Vardar operates the district heating network in the Hønefoss region through its
subsidiary Vardar Varme AS and distributes thermal energy at Treklyngen
Industrial Park where the large-scale biocarbon production facility is under
development.
In relation to the completed infrastructure work on the plot of the facility,
Vardar Varme invested in district heating pipes connecting the production plant
to its district heating network, enabling energy offtake under the terms of the
signed energy offtake agreement. Vow Green Metals is expecting to deliver about
45 GWh from the facility on an annual basis.
The large-scale biocarbon production facility at Hønefoss will become one of
Europe's largest, with its 20,000 tons production capacity and abatement
potential of 100,000 tons of fossil CO2 p.a.
ENDS
For further information, please contact:
Mathias Nilsen Reierth, Director of Corporate Affairs and Commercial, Vow Green
Metals AS.
Tel: + 47 988 05 724
Email: mathias.reierth@vowgreenmetals.com
About Vow Green Metals
Vow Green Metals' strategy is to be a leading producer of biocarbon and other
carbon-neutral products that enable the green transition in hard-to-abate
industries. We are on a mission to accelerate the world's transition to
renewable materials by offering green alternatives to replace fossil reduction
agents in the metallurgical industry. The core of our business is to build, own
and operate biocarbon production plants using state-of-the-art pyrolysis
technology to turn biomass and biomass waste-streams into our core product,
biocarbon. Our biocarbon production process also creates other valuable products
like bio-oil and bioenergy. With our standardized solutions, unique access to
proprietary technology, and a growing global pipeline of projects, we are
upholding our first-mover position in a growing market where speed and scale
will be determining factors. Vow Green Metals is building a new biocarbon
industry on the shoulders of its main owner and technology partner, Vow ASA,
which provides access to competence and capabilities acquired through decades of
industrial innovation.