Provaris Energy (ASX:PV1) Advances CO₂ Shipping Solutions with Yinson

Highlights

• Provaris Energy and Yinson finalize next-gen LCO2 tank design, marking a major development in carbon shipping.

• A new 50:50 joint venture will commercialize large-scale CO2 storage and transport infrastructure.

• Next stage includes integration into Yinson’s floating storage injection unit for the Havstjerne CCS project.

Provaris Energy Ltd (ASX:PV1), also listed on the OTC markets as OTC:GBBLF, operates in the rapidly evolving carbon transport segment within the energy sector. As a constituent of the All Ordinaries and ASX 300, the company is scaling innovation in liquid carbon dioxide (LCO2) shipping infrastructure.

In collaboration with global offshore production specialist Yinson Production AS, Provaris has completed the second phase of its LCO2 tank design. This milestone marks significant progress in carbon capture and storage (CCS) logistics, especially amid rising global emphasis on decarbonisation.

New Tank Design Clears Regulatory Hurdles

The design has been formally submitted for class approval to a Marine Classification Society. Engineered to comply with the International Gas Code, the tank is considerably larger than current models and built around a low-pressure concept that prioritizes efficiency and cost-effectiveness.

This updated architecture eliminates the need for multiple smaller tanks and their related equipment, simplifying construction and reducing shipping costs. Provaris’ design approach aligns with industry trends aimed at minimizing operational complexity while improving scale and performance.

Strategic Joint Venture to Drive Commercialisation

Provaris and Yinson are launching a 50:50 joint venture that will hold full intellectual property rights to the LCO2 tank, encompassing design, fabrication processes, and future enhancements. The partnership is structured to streamline the commercial rollout of the tank across marine and onshore markets.

As part of this collaboration, Provaris is allocating a tranche of PV1 shares to Yinson to secure ongoing technical and commercial support. The joint venture is also set to explore broader applications across the carbon transport chain, particularly as CCS initiatives grow across Europe and beyond.

FEED Stage to Enable Real-World Deployment

The project now transitions to the front-end engineering and design (FEED) phase, focused on integrating the tank into a floating storage injection unit (FSIU). Yinson is developing the FSIU for its Havstjerne CCS project, which operates offshore Norway and is connected to the wider Stella Maris carbon hub spearheaded by Harbour Energy.

Yinson's chief technical leadership has highlighted the tank’s technical viability, positioning it as a key element in building a scalable CO2 infrastructure network. The FSIU will play a pivotal role in CO2 capture, transport, and eventual storage.

Collaborations Extend to Broader Industry Players

In addition to Yinson, Provaris is collaborating with K Line Energy Shipping to expand the development of LCO2 carriers and FSIUs. These partnerships underscore the increasing momentum within Europe’s CCS sector, as countries and corporations seek reliable and scalable solutions to meet long-term emission reduction targets.

This multi-partner strategy reinforces Provaris’ role in addressing logistical and technological barriers in carbon transport. The focus remains on creating modular, cost-efficient solutions to support global decarbonisation pathways.

Positioned for Long-Term Growth in CO2 Infrastructure

As global investment accelerates across carbon management technologies, the new tank design and its integration into advanced maritime platforms place Provaris at the forefront of infrastructure innovation. With the joint venture providing a centralised mechanism for development and distribution, the company is strategically aligned with growing demand for end-to-end carbon handling systems across industrial supply chains.