Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Provaris Energy Ltd ( (AU:PV1) ) just unveiled an announcement.
Provaris Energy Ltd has initiated the Front End Engineering Design (FEED) phase for its proprietary large-scale low-pressure liquid CO2 (LCO2) tanks, in collaboration with Yinson Production AS. This development is fully funded by Yinson under a Joint Development Agreement, allowing Provaris to advance towards commercial readiness without increasing its cash burn. The FEED phase will focus on structural engineering and hull integration, with the first deliverables expected by December 2025. This strategic move positions Provaris as a leader in the carbon capture and storage (CCS) value chain, with significant market opportunities identified in Asia for large-scale LCO2 shipping solutions. The initiative is expected to strengthen Provaris’ market presence and offer scalable solutions to meet the growing demand for carbon capture and storage globally.
More about Provaris Energy Ltd
Provaris Energy Ltd is a company operating in the energy sector, focusing on the development of proprietary technologies for the storage and transportation of low-pressure liquid CO2 (LCO2) and hydrogen (H2). The company is positioning itself as a dual-market technology provider, addressing industry cost and scale barriers with its innovative tank designs.
YTD Price Performance: 17.65%
Average Trading Volume: 1,556,597
Technical Sentiment Signal: Hold
Current Market Cap: A$15.59M
See more insights into PV1 stock on TipRanks’ Stock Analysis page.