Highlights:
- Provaris Norway AS registered with a corporate office located in Oslo.
- Chief Technical Officer (CTO) Per Roed relocated to Oslo.
- Europe now a key region of focus for commercialisation activities.
- Oslo is an established hub for gas-carrier companies, with access to ship owners, engineering companies and equipment suppliers.
- European subsidiary opens access to new sources of government funding and a deeper pool of capital market participants.
SYDNEY: Provaris Energy Ltd (ASX.PV1, Provaris, or the Company) is pleased to announce it has established an office in Oslo, Norway, to be its European corporate office, including the registration of Provaris Norway AS.
Provaris’ Managing Director and CEO Martin Carolan commented: “We are excited to have established a European subsidiary, Provaris Norway AS, and corporate office in Oslo, where the Company’s Chief Technical Officer, Per Roed, has relocated to. Europe is a key region of our focus for the commercialisation of integrated compressed hydrogen supply chain solutions. The location of Norway is strategic, and we expect it to remain an important region long term.
“The Company has experienced an increase in opportunities across many supply and demand hubs in Europe, so it makes sense to be closer to technical partners, suppliers and off-takers. This is a major reason for our focus in Europe, as it will also open up access to sources of government funding and a deeper pool of capital market participants.”
Provaris’ CTO Per Roed commented: “Oslo is an established hub for gas-carrier companies, with relevant ship owners, engineering companies and equipment suppliers all present. This will allow Provaris to leverage local knowledge and expertise as we grow in the years ahead.
“To help Europe’s energy crisis and meet its 2030 decarbonisation goals, the EU has a plan for the internal production of 10 million tonnes of hydrogen and the importation of another 10 million tonnes. Norway also has hydrogen high on their agenda, and compression is widely accepted as a means for production and distribution.”
About Provaris Energy
Provaris Energy Ltd (ASX: PV1) is the leading developer of integrated compressed hydrogen projects for export to regional markets. Our purpose is to develop green hydrogen supply chains that are simple and efficient to enable the global transport of zero-carbon energy.
Provaris is developing a portfolio of integrated green hydrogen projects, leveraging our innovative compressed hydrogen GH2 Carrier with a focus on value creation through innovative development that aligns with our business model of simplicity and efficiency.
The choice to support all development phases of a project is in line with Provaris’ strategic desire to develop and invest in profitable hydrogen projects across the value chain, with a measured risk profile, and to retain an equity position of these assets over the long term.
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