Vow's subsidiary ETIA has entered into a supply agreement with Germany’s Circular Carbon, member of econnext group, for the delivery of a biomass energy system to be owned and operated by Circular Carbon, for the processing of cocoa shells from the food industry.
The Biomass Energy System, delivered by ETIA, will create a strong environmental impact by enabling Circular Carbon to help its clients reduce industry carbon footprint by offsetting natural gas and the production of biochar (reducing CO2 emissions). The Biomass Energy System comprises ETIA's Biogreen® carbonization unit producing biochar and steam (to be used in the local food production).
"The delivery, within this food industry vertical, will demonstrate the relevance and value of Vow Group's decarbonization technologies in the food processing industry," says Vow's CEO, Henrik Badin.
"Our vision is to build companies with a positive impact on society and the environment, and we are very pleased to see Circular Carbon enter into this cooperation with ETIA and Vow Group," says Co-CEO/Co-Founder of econnext, Dr. Jobst von Hoyningen-Huene.
The Biomass Energy System is scheduled to be delivered and commissioned 2021. The value of this first supply agreement with Circular Carbon is in the region of €2.4 million.