Vow Green Metals signs LOI with Global producer of Non-Ferrous Metals

“For Vow Green Metals, which specialize in building, owning and operating facilities for production of biocarbon based on sustainable feedstock, this new partnership is a perfect match. We take great pride in supporting this company on its journey towards sustainable production, and we are impressed with its clear targets and its commitment to act now,” said Cecilie Jonassen, CEO of Vow Green Metals.

“We are thrilled with this opportunity to support a world leading non-ferrous metals producer with our technology in its efforts to decarbonise its business, and to work with Vow Green Metals to realise what could become this company’s second biocarbon plant and several more. The undisclosed client has projected a demand to replace 50.000 tonnes of fossil carbon with biocarbon by 2025, a volume representing 5 times the capacity of Vow Green Metal’s first plant at Follum, currently under construction. This LOI demonstrates the attractiveness of the combined value proposition that Vow Green Meals and Vow ASA brings to the metallurgical industry”, said Henrik Badin, CEO of Vow ASA.

As a first step, the parties have agreed to undertake a joint feasibility study for the purpose of evaluating the potential to develop a biocarbon for non-ferrous metals production. The parties will map feedstock supply chains and establish a business model for off-take of CO2 neutral gas which is also a product of the biocarbon production process. The biocarbon product will be made from sustainable feedstock such as forestry wood mass, biomass waste streams and other wood materials. Each party will carry their own cost in this initial stage.

Pending the successful completion of the study and the verification of the biocarbon, Vow Green Metals and Vow will together present an initial commercial proposal to the producer later this year.

Vow Green Metals is in the process of building its first biocarbon plant at Follum in Eastern Norway. This plant will have an initial capacity to produce 10.000 tonnes of biocarbon per year. The new plants for production of biocarbon to the undisclosed non-Ferrous metal producer would be based on similar technology.

The future biocarbon production facilities, as well as the business of producing biocarbon will be established by Vow Green Metals and owned by Vow Green Metals fully or partially, as decided by the company.