Scanship Holding
Scanship Holding design, engineer, and produce solutions for waste management and wastewater purification to markets worldwide.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
NOK2.0m | Debt | ||
| Total Funding | 000k | ||
| EUR | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | 33 % | 32 % | 17 % | 14 % | 3 % | 64 % | 31 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 10 % | 12 % | 7 % | 8 % | 7 % | 11 % | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 5 % | 8 % | (4 %) | 6 % | 71 % | 2 % | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | (1 %) | - | - | - | - | - | - |
Source: Company filings or news article, Dealroom estimates
Scanship, a subsidiary of Vow ASA, operates as a key supplier of advanced environmental systems for the maritime industry, with a particular focus on cruise ships. The company's business model is centered on designing, selling, and installing proprietary technologies for waste management and wastewater purification directly to shipyards and cruise owners. Revenue streams are generated from these initial system sales, known as the Projects Cruise segment, as well as a stable, recurring income from an Aftersales segment that provides service, spare parts, and consumables for its installed base of over 400 systems on 175 cruise ships.
The company's history traces back to 1993, initially providing wastewater treatment solutions before Scanship Holding ASA was incorporated in 2011. A significant milestone occurred in January 2020 when Scanship Holding ASA was renamed Vow ASA, reflecting a broader commitment to valorizing waste on both sea and land following the 2019 acquisition of French pyrolysis technology company ETIA. Scanship itself was founded in 2007 and went public on the Oslo Axess in 2014, later moving to the main Oslo Stock Exchange.
Scanship's product portfolio is engineered to help cruise operators comply with stringent maritime regulations, such as those from the International Maritime Organization (IMO). Its Advanced Wastewater Purification (AWP) system treats all onboard wastewater—including from galleys, laundry, and sewage—through a multi-stage biological process and UV sterilization to ensure the discharged water is safe. In waste management, the company offers solutions to handle all garbage, food waste, and sludge. A core technology is the Electrically Assisted Pyrolysis (EAP), also referred to as Microwave-Assisted Pyrolysis (MAP), which converts carbon-based waste like food, plastic, and paper into biochar and syngas. This process not only manages waste but also creates value by generating energy that can be used onboard, reducing the vessel's reliance on fossil fuels. The produced biochar, a stable form of carbon, can be offloaded and sold for use in agriculture or metallurgy.
Keywords: maritime waste management, wastewater treatment, cruise ship environmental solutions, pyrolysis, waste-to-energy, syngas, biochar, advanced wastewater purification, marine pollution control, sludge treatment, circular economy at sea, shipboard waste processing, MARPOL compliance, Scanship AWP, green shipping technology, marine cleantech, Vow ASA, ETIA, aftersales service, retrofit solutions