Provaris preliminary results for RED II compliance

Provaris Energy Ltd (Provaris, ASX:PV1) has reported the preliminary results for meeting Europe's Renewable Energy Directive II (RED II) emissions standards for bulk hydrogen shipping using its proprietary H2Neo carrier on a round-trip between Norway and Germany. RED II, implemented in December 2018, sets stringent emissions standards aimed at fostering the use of renewable energy sources and reducing greenhouse gas emissions across the European Union. The directive mandates that by 2030, at least 32% of the EU's energy consumption must come from renewable sources.

Provaris Chief Technical Officer's Commentary on RED II Compliance

Provaris Chief Technical Officer, Per Roed, commented, 'These positive results highlight our ongoing efforts to optimize our hydrogen supply chain to not only meet but exceed the stringent requirements set forth by the EU's RED II and RFNBO. The hybrid electric propulsion system developed with Wärtsilä provides a highly efficient solution today while ensuring a maximum level of flexibility to introduce alternative fuels and new technologies such as fuel cells in the future. We are dedicated to pioneering sustainable energy solutions and these advancements are a testament to the hard work and innovation of our team.'

Summary of Provaris' RED II Compliance

Provaris Energy Ltd has demonstrated compliance with Europe's RED II emissions standards for bulk hydrogen shipping using its proprietary H2Neo carrier. The company's preliminary results indicate that the estimated emission level of 7.6 g CO2e/ MJ H2 was well below the 28.2 g CO2e/ MJ level required for EU RED II compliance. The positive outcomes underscore the potential of integrating advanced propulsion technologies to achieve substantial emission reductions and meet stringent regulatory standards. Provaris will continue to work on the optimization of the entire compressed hydrogen production and supply chain certification to meet RED II requirements and RFNBO compliance. The company's commitment to innovation and sustainability for bulk-scale hydrogen production and transport is evident in these developments.