Provaris Energy Ltd Executes Memorandum of Understanding with Norwegian Hydrogen AS to Collaborate on the Development on Green Hydrogen Value Chain Projects in the Nordics
infrastructure for jetty loading and unloading, Provaris' H2Neo carrier, and import infrastructure required at identified import locations. Application for suitable funding schemes available through national schemes and the European Union will also be made. Norwegian Hydrogen has established itself as a developer of green hydrogen supply in Norway with its foundation project, the Hellesylt Hydrogen Hub Pilot-E project to be operational in 2023. The collaboration with Provaris allows Norwegian Hydrogen to accelerate their ambitions for scaling-up volumes of compressed hydrogen from multiple
sites across the entire Nordic region for export to the major import hubs in Europe, with Provaris to contribute its experience in the development of compressed green hydrogen export projects, that include the 2.8GW Tiwi H2 development project in Australia. This collaboration can deliver over time giga-scale quantities of green hydrogen commencing in 2027 and addressing REPowerEU's ambition to import 10 million tonnes of renewable hydrogen in
the EU by 2030.