Provaris (ASX:PV1) collaboration with Uniper and Norwegian Hydrogen for hydrogen supply to Germany

Provaris Energy Ltd (ASX:PV1) is advancing its memorandum of understanding (MOU) with Uniper Global Commodities SE (Uniper) and Norwegian Hydrogen AS for the regional supply of hydrogen to Germany. The collaboration aims to focus on key terms for a hydrogen Sales and Purchase Agreement (SPA) term sheet, targeted for the December 2024 quarter. The MOU signed in August this year aims to strengthen cooperation in developing hydrogen supply chains from Norway and other potential Nordic sites to import locations in North-Western Europe, using Provaris' H2Neo carriers.

Executive Commentary on Advancing MOU with Uniper for Regional Hydrogen Supply

The co-operation under the Memorandum of Understanding (MOU) with Uniper and Norwegian Hydrogen is a significant step towards establishing a sustainable hydrogen supply chain to Germany. We are pleased to be working towards the key terms for a hydrogen Sales and Purchase Agreement (SPA) and shipping contracts, which are essential for the long-term charter of our proprietary H2Neo carriers and H2Leo barge. This collaboration aligns with our commitment to developing innovative green hydrogen projects for regional trade, and we are optimistic about the potential for establishing an early-mover advantage for regional maritime trade of hydrogen.

Summary of Advancing MOU with Uniper for Regional Hydrogen Supply

Provaris Energy Ltd (ASX:PV1) is making significant progress in its collaboration with Uniper and Norwegian Hydrogen for the regional supply of hydrogen to Germany. The company aims to supply over 40,000 tonnes per year of RFNBO-compliant hydrogen and is targeting a 10-year contract tenure to support the long-term charter for its proprietary H2Neo carriers and H2Leo barge. The term sheets for hydrogen Sales and Purchase Agreement (SPA) and shipping contracts linked to the chosen development project are scheduled for Q4 2024. The collaboration is focused on developing hydrogen supply chains from Norway and other potential Nordic sites to import locations in North-Western Europe, using Provaris' H2Neo carriers. The company is optimistic about establishing an early-mover advantage for regional maritime trade of hydrogen and unlocking a world of potential in the European market.