Provaris Energy

Progress Update on Hydrogen Supply Chain and Prototype Tank Activities

Provaris Energy Ltd (Provaris, ASX.PV1) is pleased to provide an update on recent progress towards its priority activities in Norway aimed at developing Hydrogen Supply Chains into Europe and advancing the Company’s proprietary hydrogen carrier.

HIGHLIGHTS:

  • Significant progress made on finalising a Term Sheet with Uniper and Norwegian Hydrogen for a Hydrogen Sale and Purchase Agreement (SPA) outlining key commercial terms, including targeting a 10-year offtake for over 40,000 tonnes per annum of hydrogen. Execution is imminent and expected to be executed after the European winter holiday period.
  • Completion of the Fiska Facility sale expected around 1st January 2025 will enable Provaris to move forward with a lease agreement with the new owners and finalise the purchase of robotic laser- welding requirement to restart its Prototype Tank fabrication and testing program.

Term Sheet for Hydrogen Supply and Offtake progressing towards execution

During December 2024, Provaris , together with Uniper and Norwegian Hydrogen, made significant strides towards the finalization of a Term Sheet that outlines the key terms for negotiation of a long term Hydrogen SPA. This agreement targets a 10-year offtake contract for over 40,000 tonnes per annum of renewable green hydrogen from the Nordics to Germany.

The Term Sheet represents a critical milestone in Provaris’ plans to establish reliable, long term, and low cost hydrogen supply utilising Provaris’ proprietary H2Neo carriers and H2Leo barge technology.

The completion of the Term Sheet is imminent however final execution may be slightly delayed by the winter holiday period in Europe, which concludes on 2 January 2025. The Term Sheet also supports discussions established with shipyards for newbuilds and shipowners for Time Charter of the carriers.

Provaris and Uniper continue to focus on optimal shipping, compression, and import terminal solutions in North-West Europe, ensuring a flexible and efficient transport network. The collaboration with Norwegian Hydrogen, including the Fjord H2 project and other Nordic sites, aims to provide RFNBO-compliant hydrogen delivered in compressed form. These initiatives support Uniper’s hydrogen portfolio requirements and align with Provaris’ vision of delivering cost-effective, low-emission supply chains from production to end-user markets.

Restart of Prototype Tank Program at Fiskå Facility and completion of final Class Approvals.

Provaris has maintained regular engagement with the secured lenders and their appointed Advisor regarding the ongoing sale process of the Fiskå Facility and associated assets. While the process has taken longer than initially anticipated progress has been achieved over the past 6 weeks with finalization and title transfer to the new owner anticipated on or around 1st January 2025.

Securing a lease agreement for a portion of the Fiskå Facility’s production floor and associated office space will provide for a resumption of the Prototype Tank fabrication and testing program. The lease is close to finalization and will provide ample room for future growth, including the potential production of small-scale hydrogen storage tanks that can be an important step towards improving the operational economics for industrial hydrogen users.

Concurrently, Provaris has advanced negotiation of the key terms for an asset purchase agreement to acquire the installed Production Cell (including robotic arms, laser-hybrid welding equipment, pedestals, jigs and related tools) essential for the Prototype Tank construction. Owning these valuable production assets and associated intellectual property will strengthen Provaris’ manufacturing capabilities in Norway and potential licensing opportunities within Europe and Asia.


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


Keep reading...Show less

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

Troy Minerals (CSE:TROY)

Troy Minerals Reports Ongoing Geophysical Studies at the Lake Owen Project, Wyoming

Troy Minerals Inc. ("Troy" or the "Company") (CSE:TROY)(OTCQB:TROYF)(FSE:VJ3) is pleased to report on the processing and interpretation status of the airborne geophysical survey covering the 100% owned Lake Owen Project (the "Project"), which is located 50 km southwest of Laramie, Wyoming, USA (see Figure 1, 2).

Covering 1,424 hectares, the project is an exploration asset in the Proterozoic Lake Owen complex, favorable for titanomagnetite-hosted mineralization. Historically explored for Platinum Group Elements (PGE), it shows strong potential for vanadium, titanium, PGE, and other critical minerals.

Keep reading...Show less
Green360 Technologies Limited

Successful Production of High-Quality Metakaolin for Low- Carbon Cement

Green360 Technologies Limited (ASX:GT3) (Green360 or the Company) is pleased to announce that it has produced a number of metakaolin samples from its kaolin resources and deposits. Successful internal laboratory testing of the metakaolin validates its exceptional quality, exceeding industry benchmarks, making it suitable for use in low-carbon cement formulations and high-performance structural concrete.

Keep reading...Show less
Solar panels and windmills.

10 Biggest ASX Renewable Energy and Sustainability Stocks in 2025

As the energy transition continues to gain urgency, investors should keep an eye on cleantech stocks, including sectors such as low-emission technologies, renewable energy, water and wastewater technologies and waste and resource efficiency.

With US President Donald Trump pulling away from the investments in the energy transition made by the previous Biden administration, Australian green companies could pick up momentum. Researchers for Deloitte project that Australia could attract a share of roughly AU$123 billion in clean tech investment, based on an analysis by Net Zero Policy Lab of new supply chain markets.

With the positive outlook for cleantech in mind, here’s a look at 10 ASX cleantech stocks listed in order of largest to smallest by market cap. All figures were current as of May 5, 2025.

Keep reading...Show less
Electric car and control panel.

10 Biggest EV Stocks to Watch in 2025

The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative.

The shift toward green energy is gathering momentum, with governments adding more incentives to accelerate this transition. Increasing EV sales are good news for battery metals investors, as EVs are significant drivers for commodities such as lithium, cobalt and graphite, key components in the cathodes of EV batteries. Additionally, interest in EV options outside of Tesla is heating up in 2025, and Chinese EVs are increasing in popularity outside of the country.

For investors interested in getting exposure to the EV trend, the Investing News Network has gathered a list of the largest EV makers by market cap. This electric car stock list was generated using TradingView's stock screener on April 17, 2025, and it includes companies with an EV focus under the motor vehicles industry filter.

Keep reading...Show less
CoTec Holdings (TSXV:CTH)

Cotec Holdings Corp. Files Annual Audited Financial Statements and MD&A

CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has filed its audited annual financial statements and the accompanying management discussion and analysis for the financial year ended December 31, 2024. The Company reported net income of $0.5 million and net loss of $0.2 million for the quarter and the year, respectively.

Julian Treger, CoTec CEO commented; "2024 was a transformative and exciting year for CoTec during which we have achieved all our objectives and completed two very successful independent technical studies for our HyProMag USA joint venture and the Lac Jeannine project. We are now extremely well positioned to become a resource producing company by H1, 2027, a mere five years since launching CoTec. This would be a remarkable achievement for a resource-based company, compared to the 12 - 15 years plus timeframe for conventional mining companies."

Keep reading...Show less
Troy Minerals (CSE:TROY)

Troy Minerals


Keep reading...Show less
Provaris Energy

Provaris Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×