Lysaker, 31 March 2022 

Vow Green Metals AS ("Vow Green Metals") reports good progress at its Follum
plant and high and increasing interest for its main products: BioCarbon and CO2
neutral energy. Interest is supported by strong regulatory and commercial
drivers that push metallurgical industry to decarbonise.

Vow Green Metals recorded an operating loss (EBITDA) for the period 2021 (period
from incorporation 14 January 2021 to 31 December 2021), of NOK 10.69 million.
The operating loss was due to expenses for the Euronext Growth Oslo stock
exchange listing, employee expenses, valuation of outstanding option program,
and other operating expenses. Net loss after net financial items for was NOK
10.73 million. 

Total non-current assets at the end of 2021 was NOK 74.9 and consist mainly of
the ordering of process equipment for the Follum plant. 

Total current assets were 69.4 million with a cash position of NOK 68.1 million.


At the end of 2021, total equity after retained earnings was NOK 141.1 million
and total equity and liabilities amounted to NOK 144.3 million. 

The company is fully funded for construction of Follum plant, financed with NOK
150 million in equity and in addition ENOVA grant of up to NOK 80.7 million.

See attached annual report for 2021 and Auditors report for further details. 

For more information, please contact

Cecilie Jonassen, CEO, Vow Green Metals AS
Tel: + 47 954 20 126
Email: cecilie.jonassen@vowgreenmetals.com

Lars Mårdalen, CFO, Vow Green Metals AS
Tel: +47 911 077 02
Email: lars.mardalen@vowgreenmetals.com


About Vow Green Metals

Vow Green Metals AS builds, owns, and operates plants that produce high value
biocarbon for the metallurgical industry.

In order to decarbonise the metallurgical industry, there is a growing global
interest in large scale pyrolysis plants, motivated by both environmentally
friendly treatment methods for waste and for the production of biocarbon.
Vow Green Metals AS aims to provide solutions for the metallurgical industry and
to meet the growing demand for industry decarbonising.

This information is subject to the disclosure requirements pursuant to the
Continuing Obligations for Issuers of Shares in accordance with Oslo Rule Book
II - Issuer Rules.