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Highlights
Provaris Energy raises funds to accelerate hydrogen and carbon transport solutions
Collaborations with Yinson and K LINE aim to scale maritime clean energy infrastructure
Prototype development and regulatory milestones continue in Norway and Malaysia
Clean energy innovator Provaris Energy Ltd (ASX:PV1), listed on the All Ordinaries, has completed a strategic capital raising initiative to strengthen its hydrogen and carbon dioxide infrastructure activities across Europe. The company is developing marine-based storage and transportation technologies in response to growing decarbonisation policies across industrial supply chains in the region.
Provaris is progressing its proprietary compressed hydrogen and CO₂ tank systems through design and prototyping milestones, aiming to provide a low-emission shipping alternative for key energy molecules.
Deployment of Hydrogen and CO₂ Technology in Europe
The newly raised capital is being directed toward advancing the technical pathway for the H2Neo™ hydrogen carrier, alongside the continued design and development of a CO₂ storage tank. This latter initiative is being delivered through a joint effort with Malaysian-based Yinson Production.
In Norway, progress on hydrogen infrastructure includes work on Provaris’ prototype tank, which is central to the company’s compressed gas shipping strategy. Parallel to this, a joint development agreement with Yinson is funding efforts to bring to market a dedicated CO₂ tank capable of supporting offshore and maritime carbon capture and storage needs.
Strategic Collaborations Strengthen European Market Entry
To support commercial scaling, Provaris has partnered with Japanese shipping major Kawasaki Kisen Kaisha Ltd, widely known as K LINE. This alliance is focused on accelerating deployment of Provaris’ hydrogen technology in Europe and Asia, tapping into the regulatory push for low-emission logistics across regional borders.
The venture with Yinson, formed in June, is also viewed as a pivotal development to expand Provaris’ presence in Europe’s decarbonisation supply chain. Together, these collaborations aim to deliver integrated solutions for transporting both hydrogen and CO₂ by sea, aligning with market demand for cost-effective clean energy delivery systems.
Placement Structure and Next Steps
As part of the capital raise, Provaris is issuing new shares under ASX Listing Rules 7.1 and 7.1A, accompanied by unlisted options for participating shareholders, subject to approval at a scheduled extraordinary general meeting in August. The capital structure is designed to support the business through its current technical and commercial phases.
Ethicus Advisory Partners acted as lead manager for the placement. Settlement is anticipated early next week, aligning with Provaris’ strategy to maintain development momentum in both hydrogen and CO₂ technologies.
