Vow ASA: Vow awarded three Safesteril contracts
Vow ASA (OSE: VOW) subsidiary ETIA Ecotechnologies (ETIA) has received orders for a total of three Safesteril food safety systems so far in the first quarter. The combined value of these orders is EUR 2.0 million.
ETIA designs and provides Safesteril plants for processing of dehydrated products in the food industry, pharmacy and petfood sectors. The success of Safesteril in the market is a reminder of the versatility of Vow and ETIA's proprietary and patented Spirajoule pyrolysis technology and its relevance in a wide range of industrial applications.
The systems ordered in the first quarter will be used for spice treatment, food life cycle services and vegetal proteins respectively, thereby ensuring food safety and contributing to good health and well-being as defined in the UN Sustainability Goals. According to the World Health Organization an estimated 600 million – almost 1 in 10 people in the world – fall ill after eating contaminated food every year.
One contract is with a Chinese customer, whereas the other two are in new European market segments which are developing quickly. The market for vegetal protein is particularly interesting in this respect.
“The market for vegetal proteins is growing in response to the world’s increasing food needs, and our expertise in this segment will open new market opportunities in both Europe and North America,” said Henrik Badin, CEO of Vow ASA.
In partnership with SAS IMPROVE, a French cutting-edge R&D platform dedicated to developing technological solutions for the farm to fork valorisation of future proteins, ETIA has developed a new process for the treatment of vegetable proteins. Using ETIA’s Safesteril technology, our new partner FlavaPulse, a food ingredient producer processing yellow peas in Bulgaria, will from next summer start production of an innovative pea protein concentrate with higher protein content and reduced bitter taste.
With 65 percent protein content, a better taste, and low microbial levels this new product will allow manufacturers to produce a wider range of clean label allergen free products using pea protein concentrate as a protein source.
The three Safesteril contracts mentioned above are booked as order intake in the first quarter in Vow's Landbased segment.
For more information, please contact:
Henrik Badin, CEO, Vow ASA
Tel: + 47 90 78 98 25
Erik Magelssen, CFO, Vow ASA
Tel: +47 928 88 728
Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company’s world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.
Advanced technologies and solutions from Vow enable industry decarbonisation and material recovery. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company’s capability to deliver is well proven.
The company is a cruise market leader in wastewater purification and valorisation of waste. It provides technology and solutions which enable industries to transition towards a fossil-free future by converting biomass and waste into valuable resources and clean energy. The company also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.