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Highlights

  • Provaris Energy signs MOU with “K” LINE to jointly develop hydrogen shipping and offshore storage solutions.

  • Collaboration supports hydrogen export initiatives in Europe, including projects aligned with German hydrogen import plans.

  • Joint studies to focus on H2Neo™ Carrier and H2Leo™ Barge development, construction, and operational frameworks.

     

Provaris Energy Ltd (ASX:PV1) has announced the signing of a Memorandum of Understanding (MOU) with global shipping company Kawasaki Kisen Kaisha, Ltd. (“K” LINE), marking a key milestone in the commercialisation of Provaris’ proprietary compressed hydrogen technologies. The collaboration focuses on the development and operation of the H2Neo™ Carrier and H2Leo™ Barge, with both companies set to undertake a 12-month joint evaluation of commercial and technical structures.

The partnership comes at a time when demand for low-carbon hydrogen in Europe is rapidly rising. The continent is forecast to require 7 million tonnes of hydrogen by 2030, with Germany expecting to import as much as 70% of its total supply. Provaris’ collaboration with “K” LINE is designed to support these goals through the advancement of its regional export initiatives, including planned supply chain projects in Norway. The initiative is further aligned with Provaris' existing MOUs signed with German utility companies for hydrogen delivery.

Under the MOU, “K” LINE will provide technical, commercial, and operational expertise to assist in the development of Provaris' compressed hydrogen vessels. This includes input on cost modelling, charter terms, and construction planning. Commercial advisory support will be provided by Clarksons Norway AS.

About the Technology: H2Neo™ and H2Leo™

The H2Neo™ Carrier is a purpose-built vessel for regional marine transport of compressed hydrogen. It features a carrying capacity of up to 27,000 m³ and is engineered for scalability, safety, and operational efficiency. The design has advanced to the Front-End Engineering Design (FEED) class approval stage.

The H2Leo™ Barge is designed for near-shore hydrogen storage and is suitable for last-mile delivery, port operations, and integration with terminal infrastructure and distribution pipelines. Both vessels comply with stringent safety regulations, including Quantitative Risk Assessments (QRA) and emissions studies.

About “K” LINE

Founded in 1919, “K” LINE is a global logistics and shipping company operating a fleet of over 400 vessels. The company is committed to delivering sustainable and environmentally friendly maritime transport services. It continues to pursue innovation in green logistics, aligning with its core value of building “Trust from all over the world.”

Provaris share price jumped 20% to 1.2 cents per share on Driday (20 June 2025) morning.