Vow Green Metals AS ("Vow Green Metals" or the "Company") is evaluating funding
alternatives for scaling and realization of the Company's growing project
pipeline to meet an increasing interest in biocarbon. The Company plans to
bundle its portfolio of large-scale biocarbon production plants and seeks to
fund separate structures together with equity partners and debt facilities.
 
The Company has previously reported a global project pipeline totaling more than
600,000 tons of biocarbon production capacity. The pipeline consists plants of
various sizes located in the Nordics, Europe and the US. As a result of high
industrial activity and increased interest for biocarbon, Vow Green Metals aims
to scale its operations fast to meet the demand for relevant volumes of
biocarbon from the metallurgical industry.
 
"When embarking on a mission to build a new green industry, speed and scale are
determining factors. With a lean organization and a first-mover position, we are
keeping up the pace, which calls for reviewing available funding alternatives,"
said Chief Executive Officer of Vow Green Metals, Cecilie Jonassen.
 
Discussions between Vow Green Metals and financial and industrial equity
partners are progressing to ensure an accelerated realization of the Company's
project pipeline. Furthermore, dialogue with infrastructure funds, other
financial investors and energy companies are currently ongoing, including
evaluations of separate portfolio structures consisting of one or more
large-scale biocarbon production plants.
 
"It is important for us to find long-term partners who share our ambition to
scale fast. Our focus remains to produce relevant volumes of biocarbon for our
clients in the metallurgical industry and secure a scalable, standardized
roll-out of plants. With our standardized plant architecture and large-scale
facilities under development, we expect to see a reduction in CAPEX and
lead-time of our future biocarbon facilities," Jonassen adds.
  
Financing update Follum plant
Vow Green Metals' biocarbon production facility at Follum, Eastern Norway, is
progressing well with an early production line ready to produce biocarbon at an
industrial scale from the third quarter of this year. The Company expects to
produce vast volumes of biocarbon from its first large-scale production
facility, one of Europe's largest, about 12 months later. A second phase,
doubling the annual production capacity to 20,000 tons of biocarbon, is already
under development.
 
The company has worked thoroughly with the project throughout this spring and is
in process with banks and debt providers, as well as energy offtake partners and
infrastructure investors to fund the facility. Process equipment for the
Company's Follum plant phase 1 is fully financed.
 
With reference to the Company's stock exchange announcement dated 3 May, further
insight to the financing strategy will be presented at Vow Green Metals' company
update on 9 May 08:30 CEST.

ENDS

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 
Vow Green Metals' strategy is to be a leading producer of biocarbon and other
carbon neutral products that enables the green transition in hard-to-abate
industries. We are on a mission to accelerate the world's transition to
renewable materials by offering green alternatives to replace fossil reduction
agents in the metallurgical industry. The core of our business is to build, own
and operate biocarbon production plants using state-of-the-art pyrolysis
technology to turn biomass and biomass waste-streams into our core product,
biocarbon. Our biocarbon production process also creates other valuable products
like bio-oil and bioenergy. With our standardized solutions, unique access to
proprietary technology, and a growing global pipeline of projects, we are
upholding our first mover position in a growing market where speed and scale
will be determining factors. Vow Green Metals is building a new biocarbon
industry on the shoulders of its main owner and technology partner, Vow ASA,
which provides access to competence and capabilities acquired through decades of
industrial innovation.