Scaling a new biobased industry

Vow Green Metals has ongoing projects under development with a combined annual production capacity exceeding 80,000 tons of biocarbon. The company aims to build several new production facilities, targeting a combined production capacity of 200,000 tons of biocarbon by 2030.

About the early production line

With its production capacity of 2,500 tons of biocarbon, Vow Green Metals’ early production line at Hønefoss will accelerate the Company’s commercial operations by enabling the delivery of industrial volumes of biocarbon to established partners and product samples to mature new markets and relationships with industrial offtakers. The production facility employs a Biogreen pyrolysis reactor, which operates solely on electric power. This is the same technology that will be installed in the first phase of the Company’s largescale plant at Hønefoss. The facility entered operations in the first quarter of 2024, after a period of cold and hot commissioning, testing and identifying improvements which will reduce the cost and lead-time of future projects

About the Hønefoss project

Vow Green Metals is developing a large-scale biocarbon production facility at Hønefoss, Eastern Norway – a project set to become one of the largest of its kind in Europe. Once fully operational, the facility will have a total annual production capacity of more than 20,000 tons of biocarbon, with an abatement potential of approximately 100,000 tons of fossil CO2 per year. The entire biocarbon production capacity of the facility has been sold for the coming years under supply agreements to industrial leaders Elkem, a global provider of advanced silicon-based materials, and Outokumpu, a European leader in stainless steel. Furthermore, a long-term energy offtake agreement has been signed with Vardar Varme, securing the offtake of all surplus energy from the plant for use in the local district heating network. The project is being developed in phases, with the first phase delivering an annual production capacity of 10,000 tons. The first phase of the project is fully financed with a NOK 344 million green loan from DNB, supported by a 50 percent loan guarantee from Eksfin, Norway’s official export credit agency. In addition, Siva, the governmental enterprise for industrial infrastructure, has signed a forward purchase agreement for the buildings and infrastructure totaling approximately NOK 152 million, combined with a leaseback agreement. Vow Green Metals owns 67 percent of the project, in partnership with Vardar AS, a regional renewable energy producer active in bioenergy, CCU, wind, solar, and hydropower, which holds the remaining 33 percent.

About the Viken Park project

The Viken Park biocarbon production facility is located at Viken Park in Fredrikstad Eastern Norway, a green-field industrial park. The energy produced from pyrolysis gas at Vow Green Metals’s production facility will become the backbone of the energy generation on-site. High-value energy will be sold to a district heating company, and low-value heat will be consumed by Vow Green Metals. This large-scale project will supply the Viken Park area with bioenergy while producing biocarbon and bio-oil for industrial use, making it a key project in ensuring zero emissions industries in the area. As an important step to mature the project, Vow Green Metals has entered several strategic partnerships with the signing of Letter of Intents for feedstock and CCU and energy offtake for the large-scale production facility at Viken Park.

About the Eiktyr project

Located at Eiktyr Industrial Park at Orkland, central Norway, the Eiktyr project is part of a circular green industry supercluster together with five other industrial companies; Elinor Batteries, Norsk e-Fuel, Norsk Industriutvikling, Vala Bio and Green Move. The companies within the cluster will jointly develop green industries at scale while leveraging the industrial symbiosis and ecosystem at Eiktyr Industrial Park. Initial studies conducted by the six companies indicate significant synergies from utilizing energy and resources from the recovery and reuse of residual products. The industrial establishment will enable up to 500,000 tons of annual emission reductions and create around 1,000 new local jobs. The aim is to ensure that all energy produced within the cluster will be utilized two times. Vow Green Metals has completed a feasibility study for a large-scale biocarbon facility at Eiktyr Industrial Park with an annual production capacity of 30,000 tons of biocarbon and is currently entering a pre-study phase, maturing the project towards final investment decision (FID) by the end of 2025.