HitecVision has acquired a 91.4% stake in Vow Green Metals, a Norwegian biocarbon producer supplying the metallurgical industry, including clients like Outokumpu. The acquisition was made through Midas Industri AS, with Vow Green Metals now delisted from the Euronext Growth Oslo exchange.
The company is entering a new phase focused on building an integrated industrial platform for biocarbon production. Backed by HitecVision, Vardar AS, and Skagerak Energipartner AS, the firm aims to scale up operations at its Hønefoss facility and develop additional plants in Østfold and Orkland. The target is to reach 200,000 tonnes of annual biocarbon output by 2030.
Biocarbon is seen as a key climate solution, with the Norwegian Environment Agency estimating it could cut over 1.4 million tonnes of CO₂-equivalent emissions by 2030, primarily by replacing fossil coal in metallurgical processes.
