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Vow delivers world leading technology solutions that bring an end to waste and prevents pollution with clean technologies. Their customers are in cruise, aquaculture and a wide range of land-based industries.
The name Vow ASA can be translated to “valorisation-of-waste”, but also clearly states the commitment they have made to the world and themselves through the vow of providing solutions for cleaner oceans, Co2 reductions and ambitions of a more sustainable future.
World leading technology and solutions for cleaner oceans and Co2 reduction.
Revenue: NOK 381 million
EBITDA adj: NOK 46 million
Entry: 8th of May 2017
Vow came to light in 2020 when the company Scanship Holding ASA decided to change name to Vow ASA. During the preceding year, the company had undergone a remarkable and significant transformation, most notably by the acquisition of the French engineering company Etia Technologies. The new name reflects the group's commitment to deliver not only solutions for cleaner oceans, but also solutions for valorisation of waste on land.
Dating back to 1993, Scanship has become a preferred provider of wastewater treatment solutions for the cruise industry. At the end of 2019, the company had delivered 253 systems and 119 more were on order. They had by then also entered the aquaculture market.
Scanship is the subsidiary focusing on the maritime segment of their business, provides advanced technologies for processing waste and purifying water for cruise ships and aquaculture and land-based industries. Scanship systems convert all waste and wastewater into clean energy and purified water which meets the highest international discharge standards. Any residuals from the Scanship processes can be recovered, recycled or reused.
Etia is the subsidiary focusing on valorisation of waste in land based industries, provides food and industrial waste processing, production of renewable materials and products, molecules (methane and hydrogen), and fuels from organic waste and biomass, valorisation of non-recyclable plastic and polymers, sterilization of food and electrified high temperature processing of minerals.
The company is headquartered in Norway, with subsidiaries in the US, France and Poland. Listed on the Oslo Stock Exchange since 2014.
Reiten & Co did the investment on the 8th of May 2017.
The depth and width of their expertise and solutions, coupled with a reliable service and aftersales arm, gives Vow a premier position to service vessel owners in the growing need for more environmentally friendly operations. We also saw that their technology portfolio was equally relevant for landbased applications and holds potential for several industries.
New product innovations are continuously being developed, all with the emphasis on providing solutions to prevent Co2 pollution, while at the same providing tangible payback from operations.
“I have been working close with Narve Reiten for the last three years from when they invested in our business and he became the chairman. His passion for our company Vow has been a great inspiration for me and my team, creating a strong drive that has been an important part of our recent success. Together, we have lined out strategies to grow our business not only within our core cruise activities, but also into new industry verticals. Active and passionate ownership is always a winner”