Provaris Energy

Payment under JDA with Yinson to develop CO2 storage and marine transport solutions

Provaris Energy Ltd (Provaris, ASX.PV1) is pleased to provide an update to shareholders on the Joint Development Agreement (JDA) with Yinson Production Offshore Pte Ltd (Yinson), as announced on 1 October 2024.


Yinson has made a payment of USD 200,000 related to Technical Service Fees for Provaris’ provision of its background IP and other technical information and services for the CO2 Tank project scope of work under the JDA, which commenced in October 2024. The agreed project scope and timetable for concept design activities runs into Q1 2025 where an update will be provided in conjunction with Yinson.

Background to the JDA for new CO2 Tank design

As announced on 1 October 2024, Yinson and Provaris are jointly evaluating the technical and economic viability of adapting Provaris’ proprietary tank design for compressed hydrogen to develop innovative and cost competitive alternatives for bulk-scale storage and transport of liquid CO2. The collaboration will also assess the potential for other gases such as ammonia.

Currently, there is no ship transport of CO2 in a low pressure and temperature range suitable for long sailing distances and large cargo volumes. This collaboration aims to help develop a new CO2 Tank design solution that will address current CO2 transit and storage limitations.

The development of CO2 storage and transport infrastructure is crucial for the widespread deployment of carbon capture, which is a critical pillar in meeting global emission reduction targets. The design of bulk scale CO2 Tanks is important for maximizing the amount of CO2 that can be stored and transported in a single cargo.

Provaris is being advised by the Energy Infrastructure Group, Clarksons Norway AS.


Click here for the full ASX Release

This article includes content from Provaris Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

Provaris Energy

Provaris Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Provaris Energy

Provaris Energy

Provaris Energy

Provaris Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Enabling the scale-up of clean energy supply chains through innovative hydrogen and CO2 storage and transport solutions.

Troy Minerals Inc. (CSE:TROY)

Troy Minerals Achieves Key Milestone Toward Operational Mining License for Its Tsagaan Zalaa Silica Project, Mongolia

Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to report that its subsidiary Grand Samsara Consulting LLC ("Grand Samsara") has successfully completed a key regulatory milestone in Mongolia - the official registration of its Tsagaan Zalaa Silica Project... Keep Reading...
Troy Minerals (CSE:TROY)

Troy Minerals Reports Completion of 2025 Summer Field Program and Progress at Table Mountain High-Purity Silica Project, British Columbia, Canada

Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to report the completion of its planned 2025 summer field exploration program and provide a progress update at its 100% owned high-purity silica Table Mountain Project ("Table Mountain" or the "Project"),... Keep Reading...
CoTec Holdings (TSXV:CTH)

Cotec Holdings Corp. Notes Hypromag USA Project Update

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note today's press release by HyProMag USA, LLC ("HyProMag USA"), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.HyProMag USA announced an update on the Detailed... Keep Reading...
Homerun Resources (TSXV:HMR)

Homerun Resources Inc. Provides Marketing Update Extends Closing of $3M Financing

Homerun Resources Inc. ("Homerun" or the "Company") (TSXV: HMR) (OTCQB: HMRFF) is pleased to announce that to further support investor understanding and broaden market awareness, Homerun has engaged Dig Media Inc (INN) and Rockstone Research. These partnerships will help deliver Bmely updates,... Keep Reading...
CoTec Holdings (TSXV:CTH)

CoTec Holdings Corp. Notes HyProMag USA Press Release Regarding Capacity Expansion Concept Study

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to note today's press release by HyProMag USA, LLC ("HyProMag USA"), its U.S.-based joint venture rare earth permanent magnet recycling and manufacturing company.HyProMag USA announced the commissioning of a... Keep Reading...
Provaris Energy

Provaris Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News