Soiltech ASA: A Giant in Green Energy's Waste Game with Contracts That Pay for Years

The energy transition isn't just about wind farms and solar panels—it's also about cleaning up the mess. And that's where Soiltech ASA (OSE: SOIL) is quietly becoming a titan. With back-to-back contracts from oil majors Equinor and OMV Petrom, this Norwegian waste management innovator is locking in decades of revenue while positioning itself at the heart of the sustainable energy boom. Action Alert: This stock isn't just surviving—it's thriving in a sector many think is dying. Here's why you should pay attention.

The Contracts That Build a Fortress Balance Sheet

Soiltech's recent deals are a masterclass in long-term contract visibility. Let's start with Equinor, Norway's energy giant. Soiltech's extended waste management contract runs until 2026, with options to stretch it all the way to 2034. That's not a temporary gig—it's a revenue engine for nearly two decades. And the work? They're handling contaminated water (“slop”) on floating storage units like the Njord Bravo for the first time, using their proprietary slop treatment technology (STT).

Then there's OMV Petrom, Austria's oil powerhouse, which awarded Soiltech a $10 million, 18-month contract for Romania's Neptun Deep gas project—the largest in the Black Sea. But here's the kicker: this is a five-year deal. The initial $10M is just the tip of the iceberg. Soiltech will provide cuttings containment systems and recycling tech for drilling rigs and supply vessels, slashing waste and CO2 emissions. With first gas expected in 2027, this project isn't going anywhere fast.

Don't miss the smaller—but still massive—wins. Soiltech's deal with OMV Norge and Northern Ocean Wind (for Equinor's offshore wind projects) is valued above 20 million NOK ($2M) for just 45–105 days of work in 2025. That's margin gold.

Why This Matters: The Green Energy Waste Market is Exploding

The world isn't just moving to renewables—it's still drilling for oil and gas, but under stricter environmental rules. And every rig, every platform, every pipeline needs someone to clean up the mess. That's Soiltech's sweet spot.

• Sustainability isn't a cost—it's a revenue driver. Soiltech's SmartTransfer™ and STT systems cut waste by recycling fluids and solids onsite. This slashes disposal costs for clients and reduces their carbon footprint—critical for companies under pressure to hit net-zero goals.
• Oil majors are locked in. Equinor and OMV aren't signing short-term deals—they're building partnerships. Why? Because Soiltech's tech is hard to replicate. Competitors can't just copy a proprietary waste management system overnight.
• The energy transition's hidden demand. Even wind farms and offshore infrastructure produce waste. As renewables grow, so does the need for companies like Soiltech.

The Investment Thesis: Buy the Drought, Sell the Flood? No—Buy the Trend

Here's why Soiltech is a buy today:
1. Contract certainty = lower risk. With deals stretching to 2034, investors know revenue is baked in.
2. Scalability. The Neptun Deep project alone could expand as Romania's gas reserves are tapped further. Add Equinor's global reach, and Soiltech's tech is a template for other regions.
3. Valuation. At current prices, Soiltech trades at ~15x forward earnings—a discount to peers in the sustainability space.

Risks? Sure, But They're Manageable

• Oil demand decline: If the world stops drilling, Soiltech's core business suffers. But even in a slower oil world, the transition to cleaner energy requires waste management.
• Regulatory shifts: Stricter environmental rules could boost Soiltech's services—but also raise costs. Their tech lead should mitigate this.
• Execution risk: Scaling up for projects like Neptun Deep requires flawless operations.

Final Take: This is a Buy-and-Forget Stock

Soiltech isn't a flashy tech stock. It's a no-nonsense company in a niche that's about to get massive. With a backlog of long-term contracts, a moat of proprietary tech, and a sector (energy waste management) that's only going to grow, this is a stock to own for the next decade.

Investment Grade: Buy.
Price Target: NOK 120/share (20% upside from current levels).

The energy world is changing—but Soiltech's trash is investors' treasure. Don't miss the boat.