Highlights:
- Uniper to evaluate the supply of green hydrogen to Germany using Provaris’ compressed hydrogen H2Neo carriers.
- Compression offers a flexible and energy efficient delivery model for the regional supply of ‘gaseous’ pipeline ready green hydrogen as one alternative to support of Germany’s ambitions for decarbonisation of industry and energy security.
SYDNEY– Provaris Energy Ltd (ASX.PV1, Provaris, or the Company) has entered into a non-binding Memorandum of Understanding (MOU) with Uniper Global Commodities SE (Uniper), an international energy company that operates approximately 22.5 GW of generation capacity in Europe.
Provaris and Uniper will work together to qualify the technical, operational, and economic benefits of Provaris’ H2Neo carriers and compressed hydrogen supply chain.
The supply of green hydrogen is key to energy security and decarbonization ambitions for German industrial sectors and the energy generators. The development of a national hydrogen infrastructure is of great importance for the competitiveness of the German economy and central to achieving decarbonisation targets.
Uniper is systematically evaluating a portfolio of alternatives and opportunities for hydrogen along the entire value chain, from production and trading to transport, storage and distribution.
Provaris’ Managing Director and CEO, Martin Carolan, added: “Our focus on the development of regional supply chains provide a practical and relevant delivery model, providing flexibility to a portfolio of hydrogen import alternatives required for Germany. Provaris continues to gain the attention of industrial users in Germany due to an increased understanding of the benefits of compression that include a focus on capital and energy efficiency.
The term of the MOU is for twelve (12) months.
About Provaris Energy
Provaris Energy Ltd (ASX: PV1) is an Australian public company developing a portfolio of integrated green hydrogen projects for the regional trade of Asia and Europe, leveraging our innovative compressed hydrogen bulk storage and carrier. Our focus on value creation through innovative development that aligns with our business model of simple and efficiency hydrogen production and transport can establish an early-mover advantage for regional maritime trade of hydrogen and unlock a world of potential. In August 2022 Provaris Norway AS was established to advance the development of regional hydrogen supply in Europe.
Main Image caption: Illustration of Provaris’ H2Neo Compressed Hydrogen Carrier and the H2Leo Barge Storage for continuous loading of hydrogen
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