HIGHLIGHTS:
- Memorandum of Understanding (MOU) signed with Norwegian Hydrogen AS to collaborate on the
identification and development of green hydrogen value chain projects in the Nordics.
- Norwegian Hydrogen is a developer of green hydrogen projects focussed on the Nordic region of
Europe to supply a range of sectors that include transport, maritime, and industrial with an industrial
ownership base (Flakk Group, Mitsui & Co., Ltd., Hexagon Purus, Hofseth International and Tafjord).
- Collaboration will accelerate the development of green hydrogen export supply chains, using Provaris’
GH2 Carriers and storage solutions, and Norwegian Hydrogen’s proposed hydrogen production and
export sites across the Nordics, including Norway.
- Provaris’ compressed H2 supply chain provides a flexible, cost-competitive solution that supports gigawatt scale generation capacity to be transported as gaseous hydrogen.
- Norway represents 50 per cent of the hydropower reservoir capacity of EU and is consequently key in
reaching the REPowerEU ambition of 10mtpa hydrogen import by 2030. Furthermore, Norway is
committed to be a long-term hydrogen supplier to Europe as confirmed in the Joint Statement (link)
of the German and Norwegian governments on increasing maturity of the hydrogen value chain.
- A joint Design Concept Study will be completed in the March quarter of 2023 to identify a preferred
production and export site and determine the technical and economic viability of a fast-track green
hydrogen supply chain connected to the key ports in Germany and the Netherlands.
Provaris Energy Ltd (ASX.PV1, Provaris, or the Company) is pleased to announce it has executed a
Memorandum of Understanding (MOU) with Norwegian Hydrogen AS, a Norwegian-based developer of hydrogen production hubs and value chains across the Nordic region, to collaborate on the development on green hydrogen value chain projects in the Nordics.
The collaboration brings together the skills, experience and ambitions of both companies to accelerate the development of a hydrogen value chain covering large scale production and export of hydrogen to the key ports of Europe.
The MOU provides a framework to jointly undertake a Concept Design Study to:
- Review identified sites and select a preferred location suitable for domestic and export volumes of hydrogen.
- Undertake a technical and economic review for the production and supply of compressed gaseous green
hydrogen to nominated European ports.
The scope of the study will include the renewable power supply, production of hydrogen, compression facilities, storage, infrastructure for jetty loading and unloading, Provaris’ H2Neo carrier, and import infrastructure required at identified import locations. Application for suitable funding schemes available through national schemes and the European Union will also be made.
Martin Carolan, Provaris Managing Director and CEO commented: “Provaris is delighted to collaborate with
Norwegian Hydrogen to accelerate our development ambitions of an integrated export hydrogen project from the Nordic region that will benefit from the simplicity and efficiency of compressed hydrogen as a marine carrier. ”
