Vow ASA has signed a long-term cooperation agreement and a long-term equipment supply agreement and been selected to be the exclusive provider for large-scale Carbon Refinery projects expected to break ground in the Caribbean in 2024. The agreements are entered into with Circon Energy LLC (Circon) and its sister company ReCO2, LLC (ReCO2) respectively. Multiple projects are under advanced development, the first of which will deploy 19 lines of Vow's equipment to process feedstocks into low-carbon fuels, biochar and recovered carbon black without any direct emissions.

Subject to the completion of final engineering and design works, ReCO2 anticipates executing a purchase order with Vow in the first quarter of 2024. With Vow's pyrolysis reactor inside, the Carbon Refinery will be processing feedstock sourced from organic components of municipal solid wastes, plastics, end-of-life tires, storm debris, wood, and agricultural wastes into low-carbon fuels, Biochar, recovered carbon black, and other coproducts.