VOW GREEN METALS AND ELKEM ADVANCE THEIR COOPERATION TO DEVELOP BIOCARBON SUITED
FOR METALLURGICAL PROCESSES

Oslo, 19 October 2022 

Vow Green Metals AS and Elkem ASA are advancing their relationship beyond an
initial letter of intent and has entered an agreement to cooperate on the
further development and supply of biocarbon suited for Elkem's advanced metals
processes. 

The objective of the cooperation agreement is to develop a competitive reduction
material for the metallurgical industry. The production, which will take place
at Vow Green Metals' factory at Follum, will be based on forest waste and other
sustainable feedstock sourced in Norway.
 
As part of the agreement, the parties will collaborate to secure the
development, qualification and testing of the biocarbon product to Elkem.

For more information, please contact:

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

About Vow Green Metals AS
Vow Green Metals AS build, own, and operate 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 section
5-12 of the Norwegian Securities Trading Act.