Norway-headed technology developer Vow ASA has announced that has signed a Letter of Intent (LoI) with an unnamed global non-ferrous metal producer and Vow Green Metals AS in a move that could eventually lead to the construction of large biocarbon production facilities, where technology will be supplied by Vow, and owned and operated by Vow Green Metals.
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As a first step, the non-ferrous metals producer, Vow Green Metals, and Vow have agreed to undertake a joint feasibility study to evaluate the potential of developing an advanced and commercially competitive biocarbon product for the undisclosed client.
We are thrilled with this opportunity to support a world-leading non-ferrous metals producer with our technology in its efforts to decarbonize its business and to work with Vow Green Metals to realize what could become this company’s second biocarbon plant and several more, said Henrik Badin, CEO of Vow.
As part of the study, the parties will map feedstock supply chains and establish a business model for the off-take of carbon dioxide (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 residues, woody biomass, biomass waste streams, and other waste wood materials. Each party will carry its own cost in this initial stage.
Plan a 50 000 tpa plant
Provided that the biocarbon product meets specifications, the LoI consists of a plan to build a plant with a capacity to produce 50 000 tonnes per annum (tpa) of biocarbon, to be operational by 2025.
There is further a possibility to substantially increase production capacity for this undisclosed client in the following years.
Vow is currently in the process of producing and assembling equipment for Vow Green Metals’ first biocarbon plant at Follum in Eastern Norway based on Vow’s advanced pyrolysis technology.
The Follum plant will have an initial capacity to produce 10 000 tonnes of biocarbon per annum. The new plants for the production of biocarbon for the undisclosed client would be based on similar technology.
The undisclosed client has projected a demand to replace 50 000 tonnes of fossil carbon with biocarbon by 2025, a volume representing five 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 bring to the metallurgical industry, ended Henrik Badin.
