Vow ASA

Vow ASA appoints Gunnar Pedersen as New CEO

Oslo, 5 February 2025 – Vow ASA is pleased to announce the appointment of Gunnar Pedersen as its new Chief Executive Officer, effective no later than 1 August  2025.

Gunnar Pedersen brings extensive leadership experience from the maritime and industrial sectors. He is currently Executive Vice President, Automation & Control at Kongsberg Maritime, and he has worked within the Kongsberg Group since 2002. Throughout his tenure, he has held several senior positions, including Executive Vice President, Technology at Kongsberg Maritime and Senior Vice President, Software and Services at Kongsberg Oil & Gas Technologies/Kongsberg Digital.

“The Board looks forward to welcoming Gunnar Pedersen to Vow. With his extensive maritime and industrial expertise, we are confident that he will lead the company into its next phase of strengthening operational efficiency and restoring profitability. In addition to driving long-term value creation, he will continue to ensure a relentless customer focus,” said Thomas Borgen, Chair of the Board of Directors.

“I have followed Vow with great interest for some time and look forward to becoming part of the team. The company is a valued provider of technology and solutions across multiple industries, particularly in the cruise sector. This represents an excellent platform for further and sustainable value creation,” said Gunnar Pedersen.

CFO stepping down

Unrelated to the coming change of CEO, Chief Financial Officer (CFO), Tina Tønnessen, has decided to step down. She will remain in the job until the end of June this year. A search for her successor is underway.

Ms. Tønnessen has held this position since May 2023. As a member of Vow’s executive team, she has played a key role in a comprehensive refinancing of the company, which was successfully completed at the end of 2024.

“The Board of Directors appreciates Tønnessen’s contribution to the company, and we are grateful that she will stay on until the end of June,” said Thomas Borgen.

“My time in Vow has been rewarding in so many ways. It has been a privilege to work with CEO Henrik Badin and the rest of the Vow team. Vow now holds a much better financial position, supported by a robust investor base and a strong market position. I therefore believe this is the right time for me to pursue new opportunities,” Tina Tønnessen said.

About Vow ASA

Vow and its subsidiaries Scanship, C.H. Evensen and Etia are passionate about preventing pollution. The company’s world-leading solutions convert biomass and waste into valuable resources and generate clean energy for a wide range of industries.

Advanced technologies and solutions from Vow enable industry decarbonisation and material recovery. Biomass, sewage sludge, plastic waste and end-of-life tyres can be converted into clean energy, low carbon fuels and renewable carbon that replace natural gas, petroleum products and fossil carbon. The solutions are scalable, standardised, patented, and thoroughly documented, and the company’s capability to deliver is well proven.

The company is a cruise market leader in wastewater purification and valorisation of waste. It provides technology and solutions which enable industries to transition towards a fossil-free future by converting biomass and waste into valuable resources and clean energy. The company also has strong niche positions in food safety and robotics, and in heat-intensive industries with a strong decarbonising agenda.

Located in Oslo, the parent company Vow ASA is listed on the Oslo Stock Exchange (ticker VOW).

For inquiries directed to the Chairman of the Board, Thomas Fredrick Borgen, please contact:

Malena Morsbach
Chief of Staff
Vow ASA
+47 91875565
malena.morsbach@vowasa.com
Vow ASA | Renewable energy