Provaris Energy

Investor Insight

Provaris presents a unique and attractive investment proposition in the rapidly expanding green hydrogen sector in Europe. With its proprietary technology, strategic partnerships and integrated business model, Provaris is well-positioned to capitalize on the growing demand for clean energy solutions.

Company Highlights

• Provaris is a leading innovator in the green hydrogen sector, leveraging its proprietary compressed hydrogen technology to develop sustainable, clean energy supply chains across Europe.
• The company combines proven technology and unique IP for cost-effective hydrogen storage and transport solutions, with a first-mover advantage through its proprietary ship design and low-cost delivery.
• Provaris has established strong strategic partners across Europe, enhancing its credibility in delivering hydrogen to market
• In addition to green hydrogen, the company is leveraging its tank IP for application into the established CO2 storage and shipping market.

Overview

Provaris (ASX:PV1), a leading innovator in the green hydrogen sector, is well-placed to become integral to the European green hydrogen supply chain through its groundbreaking compressed hydrogen solutions. The company focuses on developing regional projects that span the entire value chain, from production to export, with a particular emphasis on delivering hydrogen with the highest energy efficiency and the lowest cost.

With a vision to develop a portfolio of integrated green hydrogen projects, Provaris leverages its proprietary tank IP and innovative ship design, with a focus on collaborating with world-class partners.

Provaris stands at the forefront of the green hydrogen revolution, dedicated to developing innovative and efficient supply chains for zero-carbon energy in the European region. With its rapid adoption of green hydrogen, the European market presents a golden opportunity for Provaris. As countries across the continent seek to decarbonize their economies, the demand for sustainable energy sources has skyrocketed. Provaris’ use of compressed hydrogen technology offers a compelling solution to the logistical challenges associated with hydrogen distribution, replacing complexity with simplicity to lower the delivered cost.

Core Product: H2Neo Carrier

At the heart of Provaris’ innovative H2Neo carrier solution is its proprietary compressed hydrogen technology. The H2Neo offers a more efficient and cost-effective alternative to traditional methods of hydrogen storage and transport. These carriers are designed to address the growing global demand for clean energy while overcoming the logistical challenges associated with green hydrogen distribution.

Key Features and Benefits

• Enhanced Safety: Provaris’ compressed hydrogen technology prioritizes safety in storage and transportation.
• Cost-effectiveness: By eliminating the need for complex liquefaction or ammonia synthesis processes, the company's solutions reduce overall costs.
• Scalability: The technology is adaptable to various project sizes, from regional supply chains to large-scale international exports.
• Environmental Sustainability: Compressed green hydrogen aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.

Innovative Vessel Designs

Complementing its innovative compressed hydrogen technology, Provaris is developing new vessel designs specifically tailored for hydrogen transport. These specialized ships are engineered to safely and efficiently carry compressed hydrogen across maritime routes, opening up new possibilities for international green energy trade.

CO2 Storage and Transport

As part of its commitment to sustainable energy solutions, Provaris is expanding its portfolio to include CO2 storage technologies. This strategic move aligns with the company's core competencies in gas handling and storage, while addressing the growing demand for large scale CO2 storage and transport solutions in the European market, and beyond.

Provaris is leveraging its expertise in compressed gas handling to develop innovative CO2 solutions, through the following strategies:

Adapting Hydrogen Tank Designs: The company is modifying its proprietary compression systems to efficiently capture and store CO2 from industrial processes.

Collaboration with Global Partner: Provaris announced a Joint Development Agreement with Yinson Product AS, a global energy infrastructure and technology company, which is developing CO2 infrastructure and supply chains.

Extension to Onshore Storage Solutions: Utilizing its experience in gas storage, Provaris is developing land-based facilities for intermediate CO2 storage before permanent sequestration.

Strategic Partnerships

At the forefront of Provaris Energy's European strategy is a groundbreaking Memorandum of Understanding (MoU) with Norwegian Hydrogen and Germany-based international energy company Uniper Global Commodities. This tripartite agreement marks a pivotal step in developing hydrogen supply chains, leveraging each partner's unique strengths.

The collaboration strategically capitalizes on the Nordic region's geographical advantages, facilitating efficient hydrogen distribution across Europe, with a particular focus on the German market. Germany is reliant on the import of over 70 percent of its hydrogen demand by 2030. This partnership not only underscores Provaris' role as an enabler for hydrogen transport at scale, but also a commitment by Uniper to support the development of Provaris’ unique approach.

A significant milestone is expected in the December 2024 quarter, including a maiden Term Sheet for supply and offtake.

Provaris also has a joint development agreement with Yinson Production, a global energy infrastructure and technology company, to explore CO₂ storage and marine transportation solutions, leveraging Provaris' hydrogen tank technology for enhanced carbon capture capabilities.

In The Netherlands, Provaris is collaborating with Global Energy Storage (GES) to develop a bulk-scale hydrogen import facility within Rotterdam’s global energy hub. The agreement involves the completion of a comprehensive prefeasibility study to demonstrate the technical and economic viability of berthing and unloading of Provaris’ H2Neo compressed hydrogen carriers. Provaris will be responsible for the transportation of the hydrogen in the H2Neo carriers and GES will be responsible for the discharge and injection into the hydrogen grid.

Management Team

Martin Carolan – Managing Director & CEO

Greg Martin – Chairman

Andrew Pickering – Non-executive Director

David Palmer – Non-executive Director

Per Roed – Chief Technical Officer

Mats Fagerberg – Business Development, Europe

Garry Triglavcanin – Product Development Director

Norman Marshall – Group Commercial Manager

John Stevenson – Group Financial Controller

Jessica Roed – Operations Manager, Norway