(GLOBE NEWSWIRE) - Vow ASA, through its subsidiary ETIA, has been awarded a contract to provide a pyrolysis testing unit for processing of waste plastics and polymers for Unipetrol in the Czech Republic. Unipetrol is a part of PKN ORLEN group, a leading player in the fuels and energy markets. Unipetrol is the largest refining and petrochemical group in the Czech Republic with distribution throughout Central and Eastern Europe. Unipetrol will develop an application for plastic waste to fuel based on the core technology of ETIA.
The pilot plant is financed by public funds under the name of “Extension of the R&D infrastructure of Unipetrol with the addition of a pyrolysis testing unit”, ref. no. CZ.01.1.02/0.0/0.0/17_165/0016037, carried out within the operational programme “Enterprise and Innovations for Competitiveness”.
The plant is planned to be operational during 2020, when it will become a first showcase of ETIA’s Biogreen pyrolysis unit potential for plastic to fuel. In the agreement, ETIA intellectual property is protected, and the outcome of the project will be made available for Vow ASA and its subsidiaries.
“This award shows our strong technology portfolio becoming relevant for the oil refinery and petrochemical industries as they are changing focus towards plastic waste recycling. It really aligns with our forward strategy to expand Vow into new verticals for growth”; says Vow ASA CEO Henrik Badin in a statement.
About Vow ASA
In Vow and our subsidiaries Scanship and Etia we are passionate about preventing pollution. Our world leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.
Cruise ships on every ocean have Vow technology inside which processes waste and purifies wastewater. Fish farmers are adopting similar solutions, and public utilities and industries use our solutions for sludge processing, waste management and biogas production on land.
Our ambitions go further than this. With our advanced technologies and solutions, we turn waste into biogenetic fuels to help decarbonize industry and convert plastic waste into fuel, clean energy and high-value pyro carbon.
Our solutions are scalable, standardized, patented and thoroughly documented, and our capability to deliver is well proven. They are key to end waste and stop pollution.
Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker SSHIP, VOW from 13 January 2020). In 2018 the Vow group had annual revenues of NOK 430 million and 120 employees in Norway, France, Poland and the US.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
© 2020 GlobeNewswire, Inc. All Rights Reserved.