Provaris Energy hydrogen partnership aims for long-term supply to Europe

Proactive - Interviews for investors

Provaris Energy Ltd (ASX: PV1) managing director and CEO Martin Carolan sits down with Proactive’s Jonathan Jackson to discuss a tri-party Memorandum of Understanding (MOU) with Norwegian Hydrogen AS and Uniper for the supply of hydrogen to Germany. The MOU aims to develop hydrogen supply chains from Norway and other Nordic locations to northwest Europe, focusing on green hydrogen production by Norwegian Hydrogen, which will be transported using Provaris’ H2 Neo carriers and H2 Leo storage barges. Current efforts are concentrated on finalising a hydrogen sales and purchase agreement term sheet by December 2024 with a target of a 10-year contract. Provaris and Norwegian Hydrogen are identifying potential sites for RFNBO-compliant hydrogen production in the Nordics, including the FjordH2 Project in Norway. Provaris recently conducted a concept design study confirming the energy-efficient and cost-effective nature of its compressed hydrogen technology. The study showed the advantages of compression over ammonia conversion, such as lower energy consumption and costs, allowing for higher volumes of hydrogen delivery. Compression-based shipping requires around €6 per kilogram, 20% less than ammonia-based transport. The EU hydrogen market shows strong demand for cost-effective hydrogen, with significant funding allocated to green hydrogen projects through the H2Global and EU Hydrogen Bank initiatives. #ProactiveInvestors #ProvarisEnergy #ASX #HydrogenSupply #GreenHydrogen #CompressedHydrogen #NordicHydrogen #RenewableEnergy #H2Neo #H2Leo #HydrogenTransport #EnergyEfficiency #HydrogenTechnology #RFNBO #HydrogenStorage #MarineTransport #CleanEnergy #EUHydrogenMarket #AmmoniaConversion #HydrogenEconomy #SustainableEnergy #Electrolysis #EnergyTransition #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews