Provaris Energy Ltd's Collaboration Announcement

Provaris Energy Ltd (ASX: $PV1) has announced a collaboration with Global Energy Storage (GES) for the development of a gaseous hydrogen import facility at the GES terminal in Rotterdam. This collaboration aims to demonstrate the technical and economic viability of berthing and unloading Provaris' H2Neo compressed hydrogen carriers, as well as joint marketing of the proposed facility.

Executive Commentary on Collaboration

Peter Vucins, CEO of GES, expressed enthusiasm for the partnership, highlighting the potential to facilitate the Energy Transition through storage and logistics solutions. Martin Carolan, CEO of Provaris Energy, emphasized the significance of the collaboration in accelerating the availability of green molecules for industrial users and supporting ambitious decarbonization goals in Europe.

Summary of Collaboration and Outlook

Global Energy Storage (GES) and Provaris Energy Ltd (Provaris) have entered a collaboration agreement to develop a gaseous hydrogen import facility at the GES terminal in Rotterdam. The collaboration aims to accelerate the availability of green molecules for industrial users in Europe and support ambitious decarbonization goals. Provaris' innovative compressed hydrogen bulk storage and carrier offer a competitive alternative for regional supply sources, positioning the company as an early mover in the regional maritime trade of hydrogen. The completion of prefeasibility studies in 2024 will focus on jetty facilities, grid connection, risk and safety, emissions, and environmental considerations. Provaris is also advancing the H2Neo hydrogen carrier through an extensive design and testing program, targeting final construction approval by mid-2024. This collaboration signifies a significant step towards advancing energy-efficient and timely green hydrogen supply to industrial users in Europe, aligning with Provaris' business model of simple and efficient hydrogen production and transport.