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Provaris Energy Ltd ( (AU:PV1) ) just unveiled an update.
Provaris Energy Ltd has announced significant progress in its collaboration with Yinson Production AS, including the issuance of 10 million shares to Yinson and the formation of a Norwegian Joint Venture Company to commercialize large-scale liquid CO2 (LCO2) tank designs. The joint venture aims to leverage Norwegian and European state aid funding schemes. A Front-End Engineering Design (FEED) is underway for a Floating Storage Injection Unit (FSIU) with a 25,000 cbm capacity LCO2 tank, part of Yinson’s Havstjerne CCS project in Norway. The project is expected to meet the increasing demand for LCO2 carriers in Europe by 2030, as highlighted by DNV, which projects a need for a new fleet of carriers to support CO2 capture efforts.
More about Provaris Energy Ltd
Provaris Energy Ltd (ASX: PV1) is a company focused on advancing innovative storage and transport solutions for Compressed Hydrogen (H2) and Carbon Dioxide (CO₂) through proprietary tank designs for maritime gas carriers. The company aims to simplify, enhance efficiency, and scale regional supply chains to support the global energy transition.
Average Trading Volume: 1,533,333
Technical Sentiment Signal: Sell
Current Market Cap: A$14.37M
For detailed information about PV1 stock, go to TipRanks’ Stock Analysis page.