Provaris Energy in 'sweet spot' with second MOU for hydrogen transport

Provaris Energy Ltd (ASX:PV1, OTC:GBBLF) managing director and CEO Martin Carolan talked with Proactive about the company’s latest progress in hydrogen transport and storage solutions. The company has signed a second non-binding memorandum of understanding (MoU) to supply hydrogen from Norway to Germany, aiming for discussions on non-binding term sheets by mid-2025.Carolan emphasised that Provaris is in a "sweet spot" given the industry’s shift towards practical hydrogen projects, with a focus on cost efficiency and scalable delivery. He highlighted that recent developments in Germany reinforce the country’s commitment to hydrogen as a decarbonistion strategy.Additionally, Provaris is advancing its CO2 storage initiative through a joint development with Yinson Production, targeting large-scale liquid CO2 storage solutions. The company also secured the Fiska facility in Norway, which will play a role in testing and validating its H2 Neo carrier technology.Looking ahead, Carolan noted that investors can anticipate key milestones, including binding hydrogen sales agreements and further progress on CO2 storage projects.For more insights from industry leaders, visit Proactive’s YouTube channel, like this video, subscribe, and turn on notifications for future updates.