Provaris Energy starts fabrication and testing H2Neo prototype tank; signs third European MoU
March 26, 2024 at 10:16 am EDT
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Martin Carolan, Provaris Energy Ltd (ASX:PV1) managing director and CEO, joins Proactive’s Jonathan to discuss the significance of the H2Neo prototype tank's fabrication and testing. Carolan highlights the project's progression, which is crucial for optimising shipyard operations through improved efficiency and flexibility, and is set to be a global first in high-pressure hydrogen storage. Provaris is on track to complete this phase by mid-2024, which could open up early revenue channels. The company has also signed a third non-binding MoU with a leading European energy company, demonstrating the growing industry recognition and potential for Provaris’ hydrogen storage solutions. Carolan delves into the European market dynamics, with a special focus on Germany, where energy providers are increasingly engaged with Provaris' innovations. This interest is driven by the need for cost-effective and scalable hydrogen supply solutions in response to Europe's substantial energy import requirements.
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Proactive Investors
Jonathan Jackson
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Provaris Energy Ltd is an Australia-based company, which is engaged in developing a portfolio of integrated green hydrogen projects for the regional trade of Asia and Europe, leveraging its compressed hydrogen bulk storage and carrier. The Company is principally involved in the development of hydrogen production, storage and transport projects, including its 100% owned Tiwi Islands Hydrogen Export project in the Northern Territory, Australia, and export projects under collaboration with local Norway Partners. It is engaged in the approval and development processes for its H2Neo carrier and H2Leo Storage Barge for the marine storage and transportation of compressed hydrogen. Its projects include FjordH2 Project with Norwegian Hydrogen AS, Afjord Project with Gen2 Energy AS, Tiwi H2 Project and HyEnergy Export Project. The Company's carriers include H2Neo with approximately 430-ton and H2Max with 2,000-ton capacity, and the H2Leo storage barge with a capacity range of 300 - 600 ton.
PROVARIS ENERGY LTD 
